v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net loss $ (55,709) $ (44,247)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,686 1,172
Amortization of financing right-of-use asset 138  
Loss on disposal of fixed assets 14  
Stock-based compensation expense 6,623 4,977
Net amortization of premiums and discounts on marketable securities (751) (334)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (827) (758)
Other long-term assets (2) (45)
Accounts payable 92 369
Accrued expenses (2,602) 1,529
Deferred revenue (1,474) 11,095
Operating lease asset and liabilities 3,162  
Deferred rent and lease incentive   (261)
Net cash used in operating activities (49,650) (26,503)
Investing activities    
Purchases of property and equipment (4,481) (1,189)
Proceeds from the disposition of property and equipment   9
Purchases of marketable securities (108,206) (72,000)
Maturities of marketable securities 84,000 42,500
Net cash used in investing activities (28,687) (30,680)
Financing activities    
Payments on financing and capital lease obligations (149) (48)
Proceeds from issuance of common stock through employee benefit plans 51 487
Proceeds from issuance of common stock through exercise of warrants 2  
Proceeds from issuance of common stock and warrants in public offerings and private placements, net of issuance costs 60,359 68,508
Proceeds from issuance of convertible preferred stock and warrants in public offering, net of issuance costs 4,638  
Net cash provided by financing activities 64,901 68,947
(Decrease) increase in cash, cash equivalents and restricted cash (13,436) 11,764
Cash, cash equivalents and restricted cash, Beginning of period 50,814 32,688
Cash, cash equivalents and restricted cash, End of period 37,378 44,452
Supplemental disclosure of cash flow information:    
Cash paid for interest 52 1
Non-cash investing and financing activities    
Property and equipment received but unpaid as of period end 4,773 77
Assets acquired under financing lease 997 $ 28
Offering costs incurred but unpaid as of period end $ 50  

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