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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flow from operating activities:    
Net loss $ (37,470) $ (17,820)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 6,981 3,631
Depreciation 461 300
Amortization of (discounts) premiums on investments (292) 2
Change in operating assets and liabilities:    
Receivable from collaboration partner   1,013
Prepaid expenses and other current assets 448 (444)
Operating lease right-of-use assets 635  
Other long-term assets (13) (146)
Accounts payable 1,950 212
Accrued liabilities (180) (1,257)
Prepayment from collaboration partner (9,874) 3,269
Other long-term liabilities (692) (43)
Deferred revenue   (5,331)
Net cash used in operating activities (38,046) (16,614)
Cash flow from investing activities:    
Purchases of investments (32,697) (31,749)
Sales of investments 4,000  
Maturities of investments 16,000 8,000
Purchases of property and equipment (813) (1,188)
Proceeds from sale of equipment   39
Net cash used in investing activities (13,510) (24,898)
Cash flow from financing activities:    
Proceeds from issuance of common stock in follow-on offerings, net of issuance costs 271,520  
Payments of financing related costs (35)  
Proceeds from exercise of stock options and employee stock purchase plan 280 806
Net cash provided by financing activities 271,765 806
Net increase (decrease) in cash, cash equivalents and restricted cash 220,209 (40,706)
Cash, cash equivalents and restricted cash, beginning of period 248,265 224,857
Cash, cash equivalents and restricted cash, end of period 468,474 184,151
Non-cash investing and financing activities:    
Vesting of early exercised options and restricted stock 8 18
Unpaid financing-related costs 262  
Unpaid portion of property and equipment purchases included in period-end accounts payable and accrued liabilities $ 570 $ 317