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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net loss $ (26,488) $ (21,536)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 217 187
Stock-based compensation 3,151 1,442
Non-cash interest expense 210 23
Accretion of discounts on investments, net (91) (579)
Amortization of right-of-use asset 463 432
Change in fair value of warrant liability 75  
Changes in operating assets and liabilities    
Prepaid expenses and other current assets 29 89
Accounts payable and accrued liabilities (1,260) 1,646
Lease liability (427) (374)
Net cash used in operating activities (24,121) (18,670)
Investing activities:    
Purchases of property and equipment (172) (56)
Purchases of short-term investments (7,944) (48,827)
Sale and maturities of short-term investments 37,033 60,225
Net cash provided by investing activities 28,917 11,342
Financing activities:    
Proceeds from issuance of common stock from initial public offering, net of issuance costs 77,750  
Proceeds from exercise of common stock options 69 30
Repurchase of unvested common stock (2) (1)
Proceeds from issuance of long-term debt, net of issuance cost   9,717
Net cash provided by financing activities 77,817 9,746
Net increase in cash and cash equivalents 82,613 2,418
Cash and cash equivalents at beginning of period 15,668 15,965
Cash and cash equivalents at end of period 98,281 18,383
Supplemental disclosure of cash flow information:    
Cash paid for interest 554  
Supplemental non-cash investing and financing activities:    
Conversion of convertible preferred stock to common stock 122,465  
Conversion of convertible preferred stock warrant to common stock warrant 259  
Issuance costs in accounts payable and accrued liabilities 852  
Initial fair value of warrant liability   184
Vesting of common stock $ 73 $ 75