Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (30,359) $ (19,595)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,291 1,099
Amortization of premium (accretion of discount) on marketable securities 496 (41)
Stock-based compensation 3,952 2,707
Unrealized loss on equity securities 10,689  
Remeasurement of liability awards (11) 7
Other 39 (19)
Changes in operating assets and liabilities:    
Accounts receivable (1,668) (2,781)
Prepaid expenses and other assets (3,060) 1,417
Accounts payable (462)  
Accrued compensation (4,327) (3,073)
Other liabilities (267) (745)
Deferred rent 1,050 (36)
Deferred revenue (7,793) 2,326
Net cash used in operating activities (30,430) (18,734)
Investing activities    
Purchases of marketable securities (164,604) (3,600)
Maturities of marketable securities 40,250 37,500
Sales of marketable securities 5,000 8,500
Purchases of equipment and leasehold improvements (2,376) (763)
Net cash (used in) provided by investing activities (121,730) 41,637
Financing activities    
Proceeds from debt refinancing   25,000
Payment of debt   (10,000)
Proceeds from exercise of common stock options 1,360 56
Taxes paid related to net shares settlement of restricted stock units (407)  
Proceeds from employee stock purchase plan 873 646
Net cash provided by financing activities 1,826 15,702
Net (decrease) increase in cash, cash equivalents and restricted cash (150,334) 38,605
Cash, cash equivalents and restricted cash at beginning of period 207,024 4,975
Cash, cash equivalents and restricted cash at end of period 56,690 43,580
Supplemental disclosure of cash flow information:    
Cash paid for interest 331 134
Supplemental disclosure of non-cash investing and financing information:    
Purchases of equipment included in accounts payable 809 255
Embedded interest associated with program fees $ 231 $ 600