Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities    
Net loss $ (50,986) $ (102,808)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 632 572
Stock-based compensation expense 7,135 9,558
Accelerated vesting of stock-based compensation due to restructuring 189 910
Net accretion and amortization of investments in marketable securities (104) (2,237)
Changes in assets and liabilities:    
Interest receivable and other current assets (361) (383)
Prepaid expenses 7,077 (8,697)
Other assets (47) 2,120
Accounts payable (2,272) 530
Accrued restructuring charges (3,175) 3,193
Accrued liabilities (2,813) (669)
Net cash used in operating activities (44,725) (97,911)
Investing activities    
Purchases of property and equipment (21) (315)
Purchases of marketable securities (176,300) (290,893)
Proceeds from maturities of marketable securities 224,278 252,881
Proceeds from sale of marketable securities   3,980
Net cash provided by (used in) investing activities 47,957 (34,347)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs   107,746
Proceeds from issuance of common stock pursuant to equity award plans 92 386
Cash provided by financing activities 92 108,132
Net increase (decrease) in cash and cash equivalents 3,324 (24,126)
Cash and cash equivalents at beginning of period 24,869 48,995
Cash and cash equivalents at end of period 28,193 24,869
Supplemental disclosures    
Cash paid for amounts included in the measurement of lease liabilities $ 647 628
Operating lease right-of-use assets obtained in exchange for lease liabilities   $ 152