Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities
Net loss	$ (17,226)	$ (16,461)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	678	517
Amortization of financing right-of-use asset	65	15
Gain on disposal of fixed assets and modification of lease		1
Stock-based compensation expense	2,459	1,879
Net amortization of premiums and discounts on marketable securities	(49)	(296)
Amortization of debit-discount and accretion of deferred debt costs	40
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	358	158
Accounts receivable	20,000
Contract assets	(1,477)
Other long-term assets	(286)	(14)
Accounts payable	(1,060)	(610)
Accrued expenses	(3,357)	(4,966)
Deferred revenue	(902)	(454)
Proceeds for tenant improvement incentive from landlord	586
Operating lease asset and liabilities	417	(96)
Net cash provided by (used in) operating activities	246	(20,327)
Investing activities
Purchases of property and equipment	(1,797)	(591)
Purchases of marketable securities		(33,638)
Maturities of marketable securities	45,000	30,000
Net cash provided by (used in) investing activities	43,203	(4,229)
Financing activities
Payments on financing and capital lease obligations	(58)	(40)
Proceeds from issuance of common stock through employee benefit plans	100	3
Proceeds from issuance of common stock through at-the-market sales agreement, net of issuance costs	11,937
Proceeds from term loan, net of issuance costs	19,714
Payment of offering costs		(78)
Net cash provided by (used in) financing activities	31,693	(115)
Increase (decrease) in cash, cash equivalents and restricted cash	75,142	(24,671)
Cash and cash equivalents, Beginning of period	44,817	50,814
Cash and cash equivalents, End of period	119,959	26,143
Supplemental disclosure of cash flow information:
Cash paid for interest	231	8
Non-cash investing and financing activities:
Property and equipment received but unpaid as of period end	991	230
Assets acquired under financing lease		996
Deferred financing costs incurred but unpaid as of period end	10
Offering costs incurred but unpaid as of period end	$ 41	$ 129