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v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 47,273 $ 24,869
Marketable securities 113,991 166,076
Accrued interest receivable 284 687
Prepaid research and development expenses 3,761 9,910
Other prepaid expenses and current assets 820 1,381
Total current assets 166,129 202,923
Property and equipment, net 1,929 2,409
Operating lease right-of-use asset 268 235
Other assets 160 160
Total assets 168,486 205,727
Current liabilities:    
Accounts payable 947 2,503
Accrued research and development expenses 5,729 9,218
Accrued restructuring 93 3,193
Other accrued liabilities 3,693 2,722
Total current liabilities 10,462 17,636
Long-term portion of operating lease liability 1,389 1,743
Total liabilities 11,851 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 September 30, 2020 and December 31, 2019, respectively 7 7
Additional paid-in capital 817,653 812,133
Accumulated other comprehensive income 82 80
Accumulated deficit (661,107) (625,872)
Total stockholders' equity 156,635 186,348
Total liabilities and stockholders' equity $ 168,486 $ 205,727
v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating expenses:        
Research and development $ 7,743 $ 23,193 $ 25,194 $ 62,900
General and administrative 4,494 4,514 12,239 14,706
Restructuring charges (587)   (704)  
Total operating expenses 11,650 27,707 36,729 77,606
Loss from operations (11,650) (27,707) (36,729) (77,606)
Other income:        
Interest income 229 1,425 1,494 4,211
Total other income 229 1,425 1,494 4,211
Net loss (11,421) (26,282) (35,235) (73,395)
Other comprehensive (loss) income:        
Unrealized (loss) gain on marketable securities (104) (51) 2 235
Total other comprehensive (loss) income (104) (51) 2 235
Comprehensive loss $ (11,525) $ (26,333) $ (35,233) $ (73,160)
Basic and diluted net loss per common share $ (0.17) $ (0.38) $ (0.51) $ (1.10)
Weighted average common shares outstanding used to calculate basic and diluted net loss per common share 68,887,092 68,701,043 68,884,894 66,454,750
v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (35,235) $ (73,395)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 468 422
Stock-based compensation expense 5,513 7,483
Net accretion and amortization of investments in marketable securities (240) (1,909)
Changes in assets and liabilities:    
Interest receivable and other current assets 42 (205)
Prepaid expenses 7,071 (6,074)
Other assets   1,019
Accounts payable (1,556) (479)
Accrued restructuring charges (3,100)  
Accrued liabilities (2,872) 3,363
Net cash used in operating activities (29,909) (69,775)
Investing activities    
Purchases of property and equipment (21) (289)
Purchases of marketable securities (153,951) (246,180)
Proceeds from maturities of marketable securities 206,278 198,881
Proceeds from sale of marketable securities   3,980
Net cash provided by (used in) investing activities 52,306 (43,608)
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
Cash provided by financing activities 7 107,850
Net increase (decrease) in cash and cash equivalents 22,404 (5,533)
Cash and cash equivalents at beginning of period 24,869 48,995
Cash and cash equivalents at end of period 47,273 43,462
Supplemental disclosure    
Cash paid for amounts included in the measurement of lease liabilities $ 484 $ 470