Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net loss $ (23,075) $ (17,005)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 138 12
Stock-based compensation expense 2,342 1,796
Net accretion and amortization of investments in marketable securities (544) (278)
Non-cash interest associated with debt discount accretion   92
Change in fair value of warrant liability   4,654
Changes in assets and liabilities:    
Receivable from collaboration   5,000
Interest receivable and other current assets (177) (147)
Prepaid expenses (2,233) (159)
Other assets 1,158 (346)
Accounts payable 437 727
Accrued liabilities (440) (781)
Accrued interest payable   (6)
Net cash used in operating activities (22,394) (6,441)
Investing activities    
Purchases of property and equipment (178) (46)
Purchases of marketable securities (90,897) (124,943)
Proceeds from maturities of marketable securities 78,051 35,334
Proceeds from sale of marketable securities 3,980  
Net cash used in investing activities (9,044) (89,655)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 107,920 135,520
Proceeds from issuance of common stock pursuant to equity award plans 97 3,276
Proceeds from issuance of common stock upon exercise of warrants   656
Repayment of facility loan principal   (829)
Net cash provided by financing activities 108,017 138,623
Net increase in cash and cash equivalents 76,579 42,527
Cash and cash equivalents at beginning of period 48,995 23,054
Cash and cash equivalents at end of period 125,574 65,581
Supplemental disclosure    
Cash paid for interest   123
Supplemental non-cash investing and financing activities    
Accrued financing costs $ 174  
Issuance of common stock upon warrant exercises   $ 3,097