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
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (30,801) $ (25,508)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,176 961
Stock-based compensation 3,663 3,000
Amortization of premiums and discounts on marketable securities (91) (896)
Changes in operating assets and liabilities    
Prepaid expenses, other current assets and other long-term assets (931) (1,187)
Accounts payable, accrued liabilities and other current liabilities 7 1,534
Operating lease liabilities (665) (571)
Net cash used in operating activities (27,642) (22,667)
Cash flows from investing activities:    
Purchases of property and equipment (110) (589)
Purchases of marketable securities (182,667) (86,571)
Maturities of marketable securities 108,961 105,901
Net cash (used in) provided by investing activities (73,816) 18,741
Cash flows from financing activities:    
Proceeds from sale of common stock and pre-funded warrants in underwritten offerings, net of offering costs 99,186  
Proceeds from issuance of common stock under employee stock incentive plans 139 192
Net cash provided by financing activities 99,325 192
Effect of exchange rate changes on cash and cash equivalents 15 (83)
Net decrease in cash and cash equivalents (2,118) (3,817)
Cash and cash equivalents at the beginning of period 14,951 24,182
Cash and cash equivalents at the end of period 12,833 20,365
Supplemental disclosures of noncash investing and financing information:    
Reclassification of employee stock liability to equity upon vesting 31 37
Purchase of property and equipment in accounts payable 84 $ 17
Unpaid offering costs in accrued liabilities $ 25