XML 28 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (31,063) $ (26,018)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 270 264
Loss on disposal of fixed assets 248  
Change in fair value of derivative liabilities   (1,547)
Share-based compensation 1,980 1,054
Unrealized foreign currency transaction (gain) loss 237 (93)
Accretion of discount on marketable securities (346)  
Changes in operating assets and liabilities:    
Other receivables 679 (233)
Prepaid expenses and other current assets 706 204
Tax incentive receivables 980 (806)
Accounts payable (2,088) (112)
Accrued expenses and other current liabilities 2,372 1,011
Deferred rent (91) (95)
Net cash used in operating activities (26,116) (26,371)
Cash flows from investing activities:    
Purchases of marketable securities (104,421)  
Proceeds from maturities of marketable securities 14,000  
Purchases of property and equipment (22)  
Net cash used in investing activities (90,443)  
Cash flows from financing activities:    
Proceeds from stock option exercises 197  
Cash payment for Potentiator non-controlling interests   (1,175)
Net cash provided by (used in) financing activities 69,701 41,429
Net (decrease) increase in cash and cash equivalents (46,858) 15,058
Cash, cash equivalents and restricted cash at beginning of period 87,338 10,365
Cash, cash equivalents and restricted cash at end of period 40,480 25,423
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment in accrued expenses 1,628 28
Deferred offering costs included in accounts payable and accrued expenses   1,588
Conversion of bridge units into preferred units   8,500
Settlement of derivative liabilities upon issuance of preferred units   944
Cumulative dividends on redeemable convertible preferred units   5,313
Accretion of redeemable convertible preferred units to redemption value   557
Accretion of bridge units to redemption value   576
Elimination of non-controlling interest balance upon repurchase of the non-controlling interest   5,306
2018 Equity Offering [Member]    
Cash flows from financing activities:    
Proceeds from equity offering 70,500  
Payment of offering costs $ (996)  
2017 Initial Public Offering [Member]    
Cash flows from financing activities:    
Payment of offering costs   (507)
Series C Preferred Stock [Member]    
Cash flows from financing activities:    
Proceeds from issuance of preferred units, net of issuance costs   $ 43,111