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Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net loss $ (88,644) $ (47,264)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 11,371 5,932  
Operating lease right-of-use asset amortization 1,378 1,331  
Depreciation 578 601  
Net amortization of premium (accretion of discount) on marketable securities 1,321 (155)  
Loss on early repayment of debt   585  
Amortization of debt issuance costs and accretion of debt discount   22  
Change in deferred tax asset   1,404  
Changes in operating assets and liabilities:      
Research and development tax incentive receivable (854) (517)  
Receivable from collaboration partner - related party (212) 3,966  
Prepaid expenses and other assets (2,632) (1,566)  
Accounts payable (2,285) 32  
Payable to collaboration partner - related party (1,611) 815  
Accrued expenses and other payables 14,393 3,130  
Deferred revenue - related party (12,236) (20,653)  
Operating lease liability (1,493) (1,450)  
Other liabilities   170  
Net cash used in operating activities (80,926) (53,617)  
Cash Flows from Investing Activities      
Purchase of marketable securities (255,902) (147,600)  
Proceeds from maturities of marketable securities 213,080 131,383  
Purchases of property and equipment (905) (346)  
Net cash used in investing activities (43,727) (16,563)  
Cash Flows from Financing Activities      
Proceeds from public offering of common stock, net of issuance costs 123,995 105,478  
Proceeds from issuance of common stock upon exercise of stock options and purchases under employee stock purchase plan 3,944 2,486  
Tax withholding payments related to net settlement of restricted stock units (189)    
Issuance costs related to long-term debt   (14)  
Proceeds from at-the-market offering, net of issuance costs   23,219  
Early repayment of long-term debt   (10,524)  
Net cash provided by financing activities 127,750 120,645  
Effect of exchange rate changes on cash, cash equivalents and restricted cash (148) 154  
Net increase in cash, cash equivalents and restricted cash 2,949 50,619  
Cash, cash equivalents and restricted cash, beginning of period 117,818 33,466  
Cash, cash equivalents and restricted cash, end of period 120,767 84,085 $ 33,466
Supplemental Disclosure of Non-Cash Financing and Investing Information:      
Purchases of property and equipment in accounts payable and accrued liabilities 24 27  
Public Offering | Accrued liabilities and other payables      
Supplemental Disclosure of Non-Cash Financing and Investing Information:      
Issuance costs related to common stock offering $ 191 25  
Public Offering | Prepaid expenses and other assets      
Supplemental Disclosure of Non-Cash Financing and Investing Information:      
Issuance costs related to common stock offering     $ 125
At-the-market offering | Accrued liabilities and other payables      
Supplemental Disclosure of Non-Cash Financing and Investing Information:      
Issuance costs related to common stock offering   17  
At-the-market offering | Prepaid expenses and other assets      
Supplemental Disclosure of Non-Cash Financing and Investing Information:      
Issuance costs related to common stock offering   $ 191