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v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 32,897 $ 28,193
Marketable securities 73,237 118,130
Accrued interest receivable 227 277
Prepaid research and development expenses 6,060 2,221
Other prepaid expenses and current assets 1,392 2,764
Total current assets 113,813 151,585
Property and equipment, net 1,511 1,761
Operating lease right-of-use asset 270 272
Other assets 1,447 207
Total assets 117,041 153,825
Current liabilities:    
Accounts payable 1,050 231
Accrued research and development expenses 4,126 4,698
Other accrued liabilities 3,783 4,928
Total current liabilities 8,959 9,857
Long-term portion of operating lease liability 988 1,262
Total liabilities 9,947 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; 68,997,938 and 68,946,092 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively 7 7
Additional paid-in capital 824,717 819,549
Accumulated other comprehensive (loss) income 1 8
Accumulated deficit (717,631) (676,858)
Total stockholders' equity 107,094 142,706
Total liabilities and stockholders' equity $ 117,041 $ 153,825
v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating expenses:        
Research and development $ 16,745 $ 7,942 $ 29,127 $ 17,451
General and administrative 6,521 3,210 11,757 7,628
Total operating expenses 23,266 11,152 40,884 25,079
Loss from operations (23,266) (11,152) (40,884) (25,079)
Interest income 44 426 111 1,265
Net loss (23,222) (10,726) (40,773) (23,814)
Other comprehensive (loss) income:        
Unrealized (loss) gain on marketable securities 7 316 (7) 106
Total other comprehensive (loss) income 7 316 (7) 106
Comprehensive loss $ (23,215) $ (10,410) $ (40,780) $ (23,708)
Basic and diluted net loss per common share $ (0.34) $ (0.16) $ (0.59) $ (0.35)
Weighted average common shares outstanding used to calculate basic and diluted net loss per common share 68,985,461 68,885,108 68,965,885 68,883,783
v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (40,773) $ (23,814)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 339 309
Stock-based compensation expense 5,062 2,961
Write-off of deferred financing costs 312  
Net accretion and amortization of investments in marketable securities 426 (306)
Changes in assets and liabilities:    
Interest receivable and other current assets 178 478
Prepaid research and development expenses and other prepaid assets (2,793) 6,510
Other assets (1,240) 0
Accounts payable 798 (2,027)
Accrued liabilities (2,084) (6,568)
Net cash used in operating activities (39,775) (22,457)
Investing activities    
Purchases of property and equipment (87) 0
Purchases of marketable securities (33,820) (65,504)
Proceeds from maturities of marketable securities 78,280 159,136
Net cash provided by investing activities 44,373 93,632
Financing activities    
Proceeds from issuance of common stock pursuant to equity award plans 106 7
Net cash provided by financing activities 106 7
Net increase in cash and cash equivalents 4,704 71,182
Cash and cash equivalents at beginning of period 28,193 24,869
Cash and cash equivalents at end of period 32,897 96,051
Supplemental disclosure    
Cash paid for amounts included in the measurement of lease liabilities 332 323
Supplemental non-cash investing and financing activities    
Accrued financing costs 93 $ 205
Accrued financing costs in accounts payable $ 21