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v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jul. 31, 2020
Jun. 30, 2020
Dec. 31, 2019
Current assets:      
Cash and cash equivalents   $ 96,051 $ 24,869
Marketable securities   72,856 166,076
Accrued interest receivable   209 687
Prepaid research and development expenses   4,012 9,910
Other prepaid expenses and current assets   974 1,381
Total current assets   174,102 202,923
Property and equipment, net   2,075 2,409
Operating lease right-of-use asset   260 235
Other assets   160 160
Total assets   176,597 205,727
Current liabilities:      
Accounts payable   476 2,503
Accrued research and development expenses   5,437 9,218
Accrued restructuring   879 3,193
Other accrued liabilities   2,686 2,722
Total current liabilities   9,478 17,636
Long-term portion of operating lease liability   1,511 1,743
Total liabilities   10,989 19,379
Commitments and contingencies  
Stockholders' equity:      
Preferred stock, $0.0001 par value: 10,000,000 shares authorized; no shares issued and outstanding  
Common stock, $0.0001 par value: 200,000,000 shares authorized; 68,887,092 and 68,882,459 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively   7 7
Additional paid-in capital   815,101 812,133
Accumulated other comprehensive income   186 80
Accumulated deficit   (649,686) (625,872)
Total stockholders' equity   165,608 186,348
Total liabilities and stockholders' equity   $ 176,597 $ 205,727
v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating expenses:        
Research and development $ 7,942 $ 21,119 $ 17,451 $ 39,707
General and administrative 3,398 4,529 7,745 10,192
Restructuring charges (188)   (117)  
Total operating expenses 11,152 25,648 25,079 49,899
Loss from operations (11,152) (25,648) (25,079) (49,899)
Other income:        
Interest income 426 1,610 1,265 2,786
Total other income 426 1,610 1,265 2,786
Net loss (10,726) (24,038) (23,814) (47,113)
Other comprehensive income:        
Unrealized gain on marketable securities 316 183 106 286
Total other comprehensive income 316 183 106 286
Other comprehensive income $ (10,410) $ (23,855) $ (23,708) $ (46,827)
Basic net loss per common share $ (0.16) $ (0.35) $ (0.35) $ (0.72)
Diluted net loss per common share $ (0.16) $ (0.35) $ (0.35) $ (0.72)
Weighted average common shares outstanding used to calculate basic net loss per common share 68,885,108 68,697,735 68,883,783 65,312,988
Weighted average common shares outstanding used to calculate diluted net loss per common share 68,885,108 68,697,735 68,883,783 65,312,988
v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss $ (23,814) $ (47,113)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 309 278
Stock-based compensation expense 2,961 4,618
Net accretion and amortization of investments in marketable securities (306) (1,324)
Changes in assets and liabilities:    
Interest receivable and other current assets 478 (421)
Prepaid expenses 6,510 (5,287)
Other assets   1,550
Accounts payable (2,027) 909
Accrued restructuring charges (2,314)  
Accrued liabilities (4,254) 142
Net cash used in operating activities (22,457) (46,648)
Investing activities    
Purchases of property and equipment   (269)
Purchases of marketable securities (65,504) (221,278)
Proceeds from maturities of marketable securities 159,136 135,451
Proceeds from sale of marketable securities   3,980
Net cash provided by (used in) investing activities 93,632 (82,116)
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 7 104
Net cash provided by financing activities 7 107,850
Net increase (decrease) in cash and cash equivalents 71,182 (20,914)
Cash and cash equivalents at beginning of period 24,869 48,995
Cash and cash equivalents at end of period 96,051 28,081
Supplemental disclosure    
Cash paid for amounts included in the measurement of lease liabilities 323 $ 313
Supplemental non-cash investing and financing activities    
Accrued financing costs $ 205