Investors

Home / Investors / Financials
v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 43,326 $ 28,193
Marketable securities 82,132 118,130
Accrued interest receivable 265 277
Prepaid research and development expenses 5,631 2,221
Other prepaid expenses and current assets 1,919 2,764
Total current assets 133,273 151,585
Property and equipment, net 1,690 1,761
Operating lease right-of-use asset 273 272
Other assets 1,446 207
Total assets 136,682 153,825
Current liabilities:    
Accounts payable 1,606 231
Accrued research and development expenses 3,294 4,698
Other accrued liabilities 3,009 4,928
Total current liabilities 7,909 9,857
Long-term portion of operating lease liability 1,127 1,262
Total liabilities 9,036 11,119
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value: 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $0.0001 par value: 200,000,000 shares authorized; 68,946,092 and 68,946,092 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively 7 7
Additional paid-in capital 822,054 819,549
Accumulated other comprehensive income (6) 8
Accumulated deficit (694,409) (676,858)
Total stockholders' equity 127,646 142,706
Total liabilities and stockholders' equity $ 136,682 $ 153,825
v3.21.1
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating expenses:    
Research and development $ 12,382 $ 9,509
General and administrative 5,236 4,418
Total operating expenses 17,618 13,927
Loss from operations (17,618) (13,927)
Interest income 67 839
Net loss (17,551) (13,088)
Other comprehensive loss:    
Unrealized loss on marketable securities (14) (210)
Total other comprehensive loss (14) (210)
Comprehensive loss $ (17,565) $ (13,298)
Basic and diluted net loss per common share $ (0.25) $ (0.19)
Weighted average common shares outstanding used to calculate basic and diluted net loss per common share 68,946,092 68,882,459
v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (17,551) $ (13,088)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 164 153
Stock-based compensation expense 2,505 1,998
Net accretion and amortization of investments in marketable securities 196 (205)
Changes in assets and liabilities:    
Interest receivable and other current assets 299 310
Prepaid research and development expenses and other prepaid assets (2,852) 1,951
Other assets (1,239) 0
Accounts payable 1,375 (1,290)
Accrued liabilities (3,458) (4,537)
Net cash used in operating activities (20,561) (14,708)
Investing activities    
Purchases of property and equipment (94) 0
Purchases of marketable securities (18,212) (65,503)
Proceeds from maturities of marketable securities 54,000 112,136
Net cash provided by investing activities 35,694 46,633
Financing activities    
Net cash provided by financing activities 0 0
Net increase in cash and cash equivalents 15,133 31,925
Cash and cash equivalents at beginning of period 28,193 24,869
Cash and cash equivalents at end of period 43,326 56,794
Supplemental disclosure    
Cash paid for amounts included in the measurement of lease liabilities $ 166 $ 161