Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net loss $ (28,043) $ (23,587)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,329 2,285
Accretion of discount on marketable securities (1,263) 0
Stock-based compensation 4,749 481
Change in estimated fair value of the liability attributable to a research, development and commercialization agreement (123) 0
Revaluation of redeemable convertible preferred stock warrant liability 0 (907)
Loss on disposal of property and equipment 243 35
Other 116 (36)
Changes in operating assets and liabilities:    
Accounts receivable (4,011) (1,560)
Prepaid expenses and other assets 406 (261)
Accounts payable 1,309 (650)
Accrued compensation (2,652) 440
Other liabilities 103 90
Deferred rent (20) 37
Deferred revenue (8,889) (5,322)
Net cash used in operating activities (35,746) (28,955)
Investing activities    
Purchases of marketable securities (147,370) 0
Maturities of marketable securities 72,250 0
Sales of marketable securities 7,000 0
Purchases of property and equipment (765) (400)
Net cash used in investing activities (68,885) (400)
Financing activities    
Payment of deferred offering costs 0 (534)
Payments of debt (2,000) 0
Proceeds from exercise of common stock options 52 74
Proceeds from employee stock purchase plan 671 0
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs 0 33,215
Net cash (used in) provided by financing activities (1,277) 32,755
Net (decrease) increase in cash, cash equivalents and restricted cash (105,908) 3,400
Cash, cash equivalents and restricted cash at beginning of period 125,313 22,035
Cash, cash equivalents and restricted cash at end of period 19,405 25,435
Supplemental disclosure of cash flow information:    
Cash paid for interest 633 616
Supplemental disclosure of non-cash investing and financing information:    
Purchase of property and equipment included in accounts payable 146 37
Deferred initial public offering costs included in accounts payable 0 654
Embedded interest associated with program fees $ 1,717 $ 0