| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||
Net loss | ||||||||
-124,858 | -118,871 | -108,454 | -57,014 | -63,894 | -51,259 | -21,898 | -32,582 | 36,266 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Depreciation and amortization | ||||||||
3,900 | 3,700 | 2,800 | 1,676 | 1,176 | 1,118 | 915 | 1,293 | 3,134 |
Loss on disposition of fixed assets | ||||||||
- | - | - | - | - | -25 | -32 | 0 | - |
Stock-based compensation | ||||||||
22,995 | 24,569 | 28,248 | 18,557 | 12,075 | 4,778 | 2,196 | 1,206 | 1,427 |
Accretion of deferred interest | ||||||||
- | - | - | - | - | -536 | 342 | 335 | 271 |
Amortization of deferred debt issuance costs | ||||||||
- | - | - | - | - | 36 | 186 | 84 | 79 |
Change in fair value of warrants | ||||||||
- | - | - | -7,262 | 3,528 | -5,037 | 26,875 | 2,258 | 481 |
Net amortization of premium on investments | ||||||||
- | - | - | - | - | 0 | 0 | 51 | 162 |
Other non-cash items | ||||||||
-128 | -409 | -1,168 | 8 | 372 | - | - | - | - |
Gain on retirement of warrants | ||||||||
- | - | - | - | - | - | 76 | 0 | - |
Forgiveness of related party receivable | ||||||||
- | - | - | - | - | - | 237 | 0 | - |
Changes in assets and liabilities: | ||||||||
Prepaid expenses and other assets | ||||||||
2,429 | 2,986 | 675 | 1,411 | -7 | 255 | 823 | 594 | -2,564 |
Collaboration receivables (all amounts are with a related party) | ||||||||
1,508 | 3,470 | 336 | -394 | 261 | -249 | 840 | 1,116 | -1,836 |
Non-cash lease expense | ||||||||
5,143 | 0 | 0 | - | - | - | - | - | - |
Related party receivable | ||||||||
- | - | - | - | - | - | 4 | 8 | 6 |
Accounts payable | ||||||||
1,876 | -673 | -504 | 644 | 151 | -161 | -53 | -1,272 | 334 |
Accrued expenses | ||||||||
6,258 | 1,904 | 1,493 | 524 | 4,976 | -17 | 709 | 1,640 | -2,773 |
Operating lease obligations | ||||||||
5,333 | - | - | - | - | - | - | - | - |
Other changes in operating assets and liabilities | ||||||||
17 | -665 | 309 | - | - | - | - | - | - |
Deferred revenue | ||||||||
- | - | - | -549 | -1,184 | -1,673 | -26,949 | -9,696 | -35,130 |
Deferred rent | ||||||||
- | - | - | 96 | 519 | 499 | 499 | 482 | -211 |
Restricted cash | ||||||||
- | - | - | - | -106 | -11 | 0 | 1 | -200 |
Net cash used in operating activities | ||||||||
-93,804 | -94,706 | -76,544 | -44,545 | -44,211 | -53,220 | -19,650 | -38,884 | 9,056 |
Investing Activities | ||||||||
Purchases of investments | ||||||||
395,138 | 73,570 | 179,935 | 218,314 | 134,697 | 0 | 0 | - | - |
Proceeds from sales and maturities of investments | ||||||||
327,134 | 199,087 | 119,965 | 112,889 | 26,685 | 0 | 0 | - | - |
Purchases of property and equipment | ||||||||
3,287 | 2,590 | 4,396 | 3,380 | 959 | 514 | 307 | 441 | 27 |
Net cash provided by (used in) investing activities | ||||||||
-71,291 | 122,927 | -64,366 | -108,805 | -108,971 | -514 | -307 | -441 | -27 |
Financing Activities | ||||||||
Payments made to repurchase redeemable convertible preferred stock, common stock and warrants to purchase common stock | ||||||||
- | - | - | - | - | - | 300 | 0 | - |
Proceeds from issuance of common stock from public offering, net of issuance costs | ||||||||
248,130 | 0 | 215,802 | 140,697 | -47 | 129,174 | 0 | - | - |
Payments for withholding taxes on restricted stock units | ||||||||
- | - | - | 0 | 0 | - | - | - | - |
Proceeds from long-term debt, net of issuance costs | ||||||||
- | - | - | - | - | - | - | 19,935 | - |
Proceeds from issuance of common stock from public offering, net of issuance costs | ||||||||
- | - | - | - | - | - | 86,825 | 0 | 30,378 |
Proceeds from issuance of common stock from private placements | ||||||||
- | - | - | - | - | - | 10,000 | 0 | - |
Payments of long-term debt | ||||||||
- | - | - | - | - | 16,331 | 3,669 | 6,191 | 9,476 |
Proceeds from issuances of common stock related to employee stock purchase plan | ||||||||
- | - | - | 658 | 589 | 0 | - | - | - |
Proceeds from exercise of stock options and warrants to purchase common stock | ||||||||
- | - | - | 5,312 | 3,963 | 4,188 | 653 | 155 | 190 |
Payments for capital lease expenditures | ||||||||
0 | 139 | 0 | 0 | - | - | - | - | - |
Net proceeds from exercises and vesting of stock awards, ESPP contributions, and exercise of warrants to purchase common stock | ||||||||
10,590 | 16,285 | 4,494 | - | - | - | - | - | - |
Net cash provided by financing activities | ||||||||
258,720 | 16,146 | 220,296 | 146,667 | 4,505 | 117,031 | 93,509 | 13,899 | 21,092 |
Net increase in cash, cash equivalents and restricted cash | ||||||||
93,625 | 44,367 | 79,386 | -6,683 | -148,677 | 63,297 | 73,552 | -25,426 | 30,121 |
Supplemental Disclosure of Cash Flow Information: | ||||||||
Cash paid for interest | ||||||||
- | - | - | - | - | 1,574 | 1,657 | 1,065 | 1,461 |
Supplemental Disclosure of Non-Cash Investing and Financing Activities: | ||||||||
Accretion of dividends, interest, redemption value, and issuance costs on preferred stock | ||||||||
- | - | - | - | - | - | 19,870 | 27,061 | 21,757 |
Conversion of preferred stock into common stock | ||||||||
- | - | - | - | - | - | 286,094 | 0 | - |
Conversion of preferred stock warrants into common stock warrants | ||||||||
- | - | - | - | - | - | 2,012 | 0 | - |
Cashless exercise of warrants | ||||||||
0 | 797 | 0 | 8,682 | 465 | 11,592 | 678 | 0 | - |
Capitalized follow-on public offering costs included in accrued expenses | ||||||||
0 | 221 | 0 | 0 | 306 | 0 | 74 | 0 | - |
Purchase of property and equipment included in accounts payable and accrued expenses | ||||||||
444 | 1,159 | 194 | 397 | 270 | 11 | 297 | 0 | - |