Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net (loss) income $ (35,317) $ (19,688) $ 1,702
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:      
Depreciation and amortization 4,539 4,990 5,662
Amortization of premium (accretion of discount) on marketable securities (527) 106 168
Stock-based compensation 2,872 1,391 968
Revaluation of redeemable convertible preferred stock warrant liability (973) 186 (88)
Reduction of the liability attributable to a research, development and commercialization agreement (854) 0 0
Accretion of debt discount 162 133 0
Other 175 (30) 98
Impairment of long-lived assets 0 2,742 0
Changes in operating assets and liabilities:      
Accounts receivable (865) (1,047) (171)
Prepaid expenses and other assets (2,220) (354) (371)
Accounts payable 209 (473) 874
Accrued compensation 2,578 451 1,238
Other liabilities 551 0 (18)
Deferred rent 48 86 (95)
Deferred revenue 42,305 (25,566) (23,120)
Net cash provided by (used in) operating activities 12,683 (37,073) (13,153)
Investing activities      
Purchases of marketable securities (81,463) (14,220) (52,304)
Maturities of marketable securities 2,750 34,850 57,773
Sales of marketable securities 0 15,208 8,500
Purchases of property and equipment (1,557) (3,316) (4,394)
Proceeds from sale of property and equipment 0 0 16
Proceeds from exercise of options for SutroVax shares 80 80 0
Net cash provided by (used in) investing activities (80,190) 32,602 9,591
Financing activities      
Proceeds from issuance of debt 0 15,000 0
Payment of debt issuance fees 0 (170) 0
Proceeds (interest) from payment of note receivable by stockholder 208 (1) (7)
Proceeds from issuances of redeemable convertible preferred stock, net of issuance costs 84,739 0 0
Proceeds from issuances of common stock upon initial public offering, net of issuance costs 74,436 0 0
Payment of deferred offering costs 0 (286) 0
Proceeds from issuance of common stock in private placement 10,000 0 0
Proceeds from exercise of preferred stock warrants 268 0 0
Proceeds from exercise of common stock options and common stock warrants 134 95 184
Proceeds from a research, development and commercialization agreement 1,000 0 0
Net cash provided by financing activities 170,785 14,638 177
Net increase (decrease) in cash, cash equivalents and restricted cash 103,278 10,167 (3,385)
Cash, cash equivalents and restricted cash at beginning of year 22,035 11,868 15,253
Cash, cash equivalents and restricted cash at end of year 125,313 22,035 11,868
Supplemental disclosure of cash flow information      
Cash paid for interest 1,275 479 0
Supplemental Disclosures of Non-cash Investing and Financing Information      
Vesting of early exercised shares 8 86 116
Conversion of redeemable convertible preferred stock and warrants into common stock upon IPO, net of issuance costs 187,244 0 0
Reclassification of redeemable convertible preferred stock warrant liability to equity 734 0 0
Purchase of property and equipment included in accounts payable 205 255 532
Deferred initial public offering costs included in accounts payable $ 0 $ 259 $ 0