Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net loss $ (35,087) $ (23,167) $ (8,517)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,301 690 175
Stock-based compensation 4,007 1,993 203
Amortization of premiums and discounts on marketable securities (979) (476)  
Loss on disposal of property and equipment   106  
Changes in operating assets and liabilities      
Prepaid expenses and other current assets (553) (1,136) (543)
Other assets   61 (282)
Accounts payable and accrued liabilities 2,208 1,440 844
Operating lease liabilities and other liabilities (774) (8) 6
Deferred rent   (295) 5
Net cash used in operating activities (29,877) (20,792) (8,109)
Cash flows from investing activities:      
Purchases of property and equipment (607) (1,120) (389)
Purchases of marketable securities (102,255) (119,244)  
Maturities of marketable securities 123,281 36,450  
Proceeds from sale of property and equipment   10  
Net cash provided by (used in) investing activities 20,419 (83,904) (389)
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs   77,695  
Proceeds from issuance of preferred stock, net of issuance costs     49,755
Proceeds from issuance of common stock under employee equity plans 272 218  
Net cash provided by financing activities 272 77,913 49,755
Effect of exchange rate changes on cash, cash equivalents and restricted cash (45) (81) 29
Net (decrease) increase in cash, cash equivalents and restricted cash (9,231) (26,864) 41,286
Cash, cash equivalents and restricted cash at the beginning of period 24,182 51,046 9,760
Cash, cash equivalents and restricted cash at the end of period 14,951 24,182 51,046
Supplemental disclosures of noncash investing and financing information:      
Reclassification of employee stock liability to equity upon vesting $ 50 69 16
Addition of tenant improvement paid by landlord   2,703 $ 464
Purchase of property and equipment in accounts payable   38  
Conversion of redeemable convertible preferred stock into common stock   $ 77,931