Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net income (loss) $ 10,277 $ (28,043)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 2,158 2,329
Amortization of premium (accretion of discount) on marketable securities 54 (1,263)
Stock-based compensation 5,718 4,749
Unrealized gain on equity securities (48,860)  
Remeasurement of liability awards 1,979 28
Other 322 208
Changes in operating assets and liabilities:    
Accounts receivable 1,196 (4,011)
Prepaid expenses and other assets 1,475 406
Accounts payable (1,969) 1,309
Accrued compensation (1,497) (2,652)
Other liabilities (413) 103
Deferred rent (79) (20)
Deferred revenue (1,595) (8,889)
Net cash used in operating activities (31,234) (35,746)
Investing activities    
Purchases of marketable securities (91,270) (147,370)
Maturities of marketable securities 63,800 72,250
Sales of marketable securities 14,500 7,000
Purchases of equipment and leasehold improvements (2,529) (765)
Net cash used in investing activities (15,499) (68,885)
Financing activities    
Proceeds from public offering, net of issuance costs 91,411  
Proceeds from debt refinancing 25,000  
Payments of debt (10,000) (2,000)
Proceeds from exercise of common stock options 64 52
Proceeds from employee stock purchase plan 646 671
Net cash provided by (used in) financing activities 107,121 (1,277)
Net increase (decrease) in cash, cash equivalents and restricted cash 60,388 (105,908)
Cash, cash equivalents and restricted cash at beginning of period 4,975 125,313
Cash, cash equivalents and restricted cash at end of period 65,363 19,405
Supplemental disclosure of cash flow information:    
Cash paid for interest 649 633
Supplemental disclosure of non-cash investing and financing information:    
Purchases of equipment included in accounts payable 1,286 146
Embedded interest associated with program fees 1,128 $ 1,717
Warrants issued to lenders $ 619