Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net loss $ (73,395) $ (53,099)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 422 39
Stock-based compensation expense 7,483 5,275
Net accretion and amortization of investments in marketable securities (1,909) (1,358)
Non-cash interest associated with debt discount accretion   148
Loss on extinguishment of debt   407
Change in fair value of warrant liability   3,710
Gain on extinguishment of warrant liability   (422)
Accretion of tenant improvement allowance   (154)
Changes in assets and liabilities:    
Receivable from collaboration   5,000
Interest receivable and other current assets (205) (93)
Prepaid expenses (6,074) (585)
Other assets 1,019 (729)
Accounts payable (479) 318
Accrued liabilities 3,363 6,245
Accrued interest payable   (43)
Net cash used in operating activities (69,775) (35,341)
Investing activities    
Purchases of property and equipment (289) (60)
Purchases of marketable securities (246,180) (249,422)
Proceeds from maturities of marketable securities 198,881 168,600
Proceeds from sale of marketable securities 3,980  
Net cash used in investing activities (43,608) (80,882)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 107,746 135,520
Proceeds from issuance of common stock pursuant to equity award plans 104 3,547
Proceeds from issuance of common stock upon exercise of warrants   2,550
Repayment of facility loan principal   (6,527)
Payment of fees to extinguish facility loan   (126)
Net cash provided by financing activities 107,850 134,964
Net (decrease) increase in cash and cash equivalents (5,533) 18,741
Cash and cash equivalents at beginning of period 48,995 23,054
Cash and cash equivalents at end of period 43,462 41,795
Supplemental disclosure    
Cash paid for amounts included in the measurement of lease liabilities $ 470  
Cash paid for interest   231
Supplemental non-cash investing and financing activities    
Lessor funded lease incentives included in other current assets   2,100
Issuance of common stock upon warrant exercises   $ 9,379