| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flow from operating activities | ||||||
Net loss | ||||||
-43,597 | -88,288 | -70,698 | -40,193 | -29,672 | -16,317 | |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||||||
Stock-based compensation expense | ||||||
15,640 | 15,710 | 9,238 | 6,310 | 4,027 | 425 | |
Depreciation | ||||||
2,800 | 2,100 | 1,600 | 612 | 600 | 184 | |
Amortization of premiums and discounts on marketable securities | ||||||
3,584 | 2,163 | 24 | -696 | -452 | - | |
Change in fair value of preferred stock tranche liability | ||||||
- | - | - | - | 9,750 | 1,949 | |
Non-cash interest on convertible promissory notes payable | ||||||
- | - | - | - | - | 2 | |
Expense related to shares issued in connection with services performed | ||||||
- | - | - | - | - | 250 | |
In-kind research and development expenses | ||||||
616 | 176 | 113 | 1,182 | 2,316 | - | |
Other non-cash items | ||||||
1,612 | -859 | -46 | -709 | 277 | -342 | |
Changes in operating assets and liabilities: | ||||||
Related party collaboration receivable | ||||||
18,496 | - | - | - | - | - | |
Prepaid expenses and other current assets | ||||||
-1,675 | 3,937 | -1,630 | 847 | 234 | 1,185 | |
Operating lease, right-of-use asset | ||||||
-2,951 | - | - | - | - | - | |
Noncurrent assets | ||||||
343 | 180 | -1,000 | -7 | -14 | 7 | |
Accounts payable | ||||||
2,598 | -282 | 470 | -62 | -942 | 604 | |
Accrued expenses | ||||||
11,728 | -1,600 | 4,900 | 2,636 | 2,788 | 537 | |
Operating lease liabilities | ||||||
-2,506 | - | - | - | - | - | |
Other non-current liabilities | ||||||
- | - | - | - | -189 | 186 | |
Lease incentive benefit | ||||||
- | -321 | -515 | -1,050 | - | -1,112 | |
Deferred revenue | ||||||
80,831 | 61,380 | -10,135 | -14,582 | 52,666 | - | |
Net cash (used in) provided by operating activities | ||||||
48,666 | -15,887 | -61,350 | -42,482 | 41,299 | -11,918 | |
Cash flow from investing activities | ||||||
Purchases of property and equipment | ||||||
7,718 | 4,305 | 3,985 | 5,029 | 1,030 | 2,988 | |
Proceeds from sale of equipment | ||||||
172 | - | - | - | - | - | |
Change in restricted cash | ||||||
- | - | - | - | - | 314 | |
Purchases of marketable securities | ||||||
494,231 | 333,228 | 147,296 | 112,350 | 220,399 | - | |
Proceeds from maturities of marketable securities | ||||||
411,300 | 364,000 | 147,600 | 165,100 | 26,660 | - | |
Net cash provided by (used in) investing activities | ||||||
-90,477 | 26,467 | -3,681 | 47,721 | -194,769 | -3,302 | |
Cash flow from financing activities | ||||||
Proceeds from the issuance of common stock net of discount and issuance costs | ||||||
- | - | 57,994 | - | 104,779 | - | |
Proceeds from the exercise of stock options | ||||||
2,714 | 3,889 | 1,363 | 514 | 72,965 | 80 | |
Proceeds from the issuance of common stock in connection with the Neurocrine Collaboration Agreement | ||||||
77,617 | - | - | - | - | - | |
Proceeds from the purchase of common stock under ESPP | ||||||
663 | 860 | 563 | - | - | - | |
Proceeds from issuance of Series A redeemable convertible preferred stock and tranche rights, net of issuance costs | ||||||
- | - | - | - | - | 22,040 | |
Net cash provided by financing activities | ||||||
80,994 | 4,749 | 59,920 | 514 | 177,744 | 22,120 | |
Net increase in cash and cash equivalents | ||||||
39,183 | 15,329 | -5,111 | 5,753 | 24,274 | 6,900 | |
Supplemental disclosure of cash and non-cash activities | ||||||
Impact of adopting new accounting standards | ||||||
- | -20,050 | - | - | - | - | |
Operating lease right-of-use assets obtained in exchange for operating lease liabilities | ||||||
30,964 | - | - | - | - | - | |
Capital expenditures incurred but not yet paid | ||||||
434 | 300 | - | 242 | - | - | |
Accretion of redeemable convertible preferred stock to redemption value | ||||||
- | - | - | - | 7,373 | 1,366 | |
Exchange of promissory notes payable and accrued interest into Series A redeemable convertible preferred stock and tranche rights | ||||||
- | - | - | - | - | 2,929 | |
Conversion of redeemable convertible preferred stock to common stock | ||||||
- | - | - | - | 150,187 | - | |
ASU 2014-09 | ||||||
Impact of adopting new accounting standards | ||||||
- | -19,930 | - | - | - | - | |