v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net loss $ (41,742) $ (35,087) $ (23,167)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,544 1,301 690
Stock-based compensation 4,943 4,007 1,993
Amortization of premiums and discounts on marketable securities 317 (979) (476)
Loss on disposal of property and equipment     106
Changes in operating assets and liabilities      
Prepaid expenses and other current assets (1,424) (553) (1,136)
Other assets     61
Accounts payable and accrued liabilities 313 2,208 1,440
Operating lease liabilities and other liabilities (900) (774) (8)
Deferred rent     (295)
Net cash used in operating activities (36,949) (29,877) (20,792)
Cash flows from investing activities:      
Purchases of property and equipment (194) (607) (1,120)
Purchases of marketable securities (225,728) (102,255) (119,244)
Maturities of marketable securities 169,424 123,281 36,450
Proceeds from sale of property and equipment     10
Net cash provided by (used in) investing activities (56,498) 20,419 (83,904)
Cash flows from financing activities:      
Proceeds from sale of common stock and pre-funded warrants in underwritten offerings, net of offering costs 99,186   77,695
Proceeds from issuance of common stock under employee stock incentive plans 456 272 218
Net cash provided by financing activities 99,642 272 77,913
Effect of exchange rate changes on cash, cash equivalents and restricted cash 82 (45) (81)
Net (decrease) increase in cash, cash equivalents and restricted cash 6,277 (9,231) (26,864)
Cash, cash equivalents and restricted cash at the beginning of period 14,951 24,182 51,046
Cash, cash equivalents and restricted cash at the end of period 21,228 14,951 24,182
Supplemental disclosures of noncash investing and financing information:      
Reclassification of employee stock liability to equity upon vesting 41 $ 50 69
Addition of tenant improvement paid by landlord     2,703
Purchase of property and equipment in accounts payable     38
Conversion of redeemable convertible preferred stock into common stock     $ 77,931
Unpaid offering costs in accrued liabilities $ 25    

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