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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net loss $ (67,698) $ (57,010) $ (10,380)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 19,341 6,138 2,813
Depreciation 1,567 1,294 1,111
Amortization of premiums on investments (279) 85  
Loss on disposal of equipment   4  
Changes in operating assets and liabilities:      
Receivable from collaboration partner 1,013 43,987 (45,000)
Prepaid expenses and other current assets (2,884) (482) (112)
Other long-term assets (296) (59) (24)
Accounts payable 671 367 (434)
Accrued liabilities 8,945 2,968 3,250
Prepayment from collaboration partner 8,541 4,432  
Other long-term liabilities (178) (120) (109)
Deferred revenue (33,558) (11,442) 28,029
Net cash used in operating activities (64,815) (9,838) (20,856)
Cash flow from investing activities:      
Purchases of investments (132,475) (44,044) (16,060)
Sales of investments 8,000 4,000  
Maturities of investments 28,000 4,000  
Purchases of property and equipment (3,373) (1,517) (1,083)
Proceeds from sale of equipment   10  
Net cash used in investing activities (99,848) (37,551) (17,143)
Cash flow from financing activities:      
Proceeds from issuance of common stock during follow-on offerings, net of issuance costs 181,863 133,862 61,148
Proceeds from exercise of stock options and employee stock purchase plan 6,208 2,365 506
Payments of prior period offering costs   (38) (153)
Net cash provided by financing activities 188,071 136,189 61,501
Net increase in cash and cash equivalents 23,408 88,800 23,502
Cash, cash equivalents and restricted cash at beginning of period 224,857 136,057 112,555
Cash, cash equivalents and restricted cash at end of period 248,265 224,857 136,057
Non-cash investing and financing activities:      
Vesting of early exercised options and restricted stock 53 184 272
Unpaid portion of property and equipment purchases included in period-end accounts payable and accrued liabilities $ 468 $ 283 103
Unpaid financing-related costs included in period-end accounts payable and accrued liabilities     $ 38