| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-82,177 | -76,398 | -44,656 | -30,404 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
2,663 | 2,180 | 1,304 | 153 | |||
Net accretion and amortization of premium and discounts on marketable securities | ||||||
1,151 | 955 | -182 | - | |||
Stock-based compensation | ||||||
10,852 | 9,441 | 3,034 | 224 | |||
Loss on extinguishment of promissory notes | ||||||
- | - | - | -9,377 | |||
Non-cash interest expense | ||||||
- | - | - | 2,223 | |||
Loss on disposal of property and equipment | ||||||
- | 45 | 15 | - | |||
Common stock granted to third party | ||||||
965 | - | 44 | 447 | |||
Change in fair value of strategic investment | ||||||
4,507 | - | - | - | |||
Accretion of tenant improvement allowance | ||||||
1,275 | 605 | 605 | 403 | |||
Change in fair value of contingent consideration for license agreements | ||||||
-1,352 | 4,542 | - | - | |||
Changes in operating assets and liabilities: | ||||||
Contribution receivable | ||||||
- | -1,382 | 1,382 | - | |||
Prepaid expenses and other current assets | ||||||
169 | 842 | 746 | 229 | |||
Other long-term assets | ||||||
31 | 604 | -23 | 41 | |||
Accounts payable | ||||||
-227 | 2,228 | 1,198 | 198 | |||
Accrued compensation | ||||||
2,114 | 1,610 | 1,607 | 504 | |||
Accrued and other current liabilities | ||||||
-587 | 1,446 | 1,258 | 1,046 | |||
Deferred rent, net of current portion | ||||||
2,461 | -93 | 366 | 27 | |||
Other non-current liabilities | ||||||
- | - | - | 480 | |||
Net cash used in operating activities | ||||||
-72,421 | -56,623 | -38,358 | -16,398 | |||
Investing activities | ||||||
Purchase of marketable securities | ||||||
119,270 | 204,086 | 134,465 | - | |||
Maturities of marketable securities | ||||||
188,809 | 133,644 | 49,849 | - | |||
Purchase of investment in stock | ||||||
- | 500 | - | 500 | |||
Purchase of property and equipment | ||||||
1,586 | 1,264 | 1,689 | 2,244 | |||
Net cash provided by investing activities | ||||||
67,953 | -72,206 | -86,305 | -2,744 | |||
Financing activities | ||||||
Proceeds from issuance of common stock under ATM Offering Program, net of issuance costs | ||||||
26,085 | - | - | - | |||
Proceeds from issuance of convertible promissory notes payable | ||||||
- | - | - | 16,887 | |||
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||
- | 59,881 | 42,867 | 90,956 | |||
Proceeds from issuance of common stock upon exercise of stock options, net of repurchases | ||||||
840 | 374 | -37 | 95 | |||
Proceeds from issuance of common stock under ESPP | ||||||
586 | - | - | - | |||
Proceeds from initial public offering, net of issuance costs | ||||||
- | 79,055 | - | - | |||
Payment of initial public offering costs | ||||||
- | 3,201 | - | - | |||
Proceeds from repayment of recourse notes | ||||||
- | 895 | - | - | |||
Payments made on capital lease obligations | ||||||
73 | 74 | 55 | - | |||
Net cash provided by financing activities | ||||||
27,438 | 136,930 | 42,775 | 107,938 | |||
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||
22,970 | 8,101 | -81,888 | - | |||
Net increase in cash, cash equivalents and restricted cash | ||||||
- | - | - | 88,796 | |||
Supplemental Disclosures of Non-Cash Investing and Financing Activities | ||||||
Conversion and settlement of convertible notes and accrued interest into convertible preferred stock | ||||||
- | - | - | 15,667 | |||
Property and equipment included in accounts payable and accrued liabilities | ||||||
565 | 241 | 314 | 98 | |||
Property and equipment acquired under capital leases | ||||||
- | - | 243 | - | |||
Lessor funded lease incentives included in property and equipment | ||||||
10,651 | - | 3,881 | - | |||
Receipt of promissory note for purchase of common stock | ||||||
- | 400 | - | - | |||
Receipt of promissory note from related party for purchase of common stock | ||||||
27 | 390 | - | 153 | |||