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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flow from operating activities    
Net loss $ (45,760) $ (26,488)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 3,804 1,772
Depreciation and amortization 1,836 1,743
Share of loss from equity method investee 844 377
Gain on deemed sale from equity method investee 0 (1,229)
Amortization of premiums on investments (1,580) 0
Other non-operating income 0 (177)
Changes in operating assets and liabilities:    
Amounts owed by a related party 21 (168)
Other long-term assets (35) 0
Prepaid expenses and other current assets (952) (409)
Accounts payable (566) 1,347
Accrued liabilities 9,529 1,812
Other current liabilities 29 20
Deferred revenue (3,500) (2,500)
Deferred rent (262) (224)
Net cash used in operating activities (36,592) (24,124)
Cash flow from investing activities    
Purchases of short-term and long-term investments (123,837) (90,671)
Proceeds from maturities of short-term and long-term investments 165,968 60,415
Purchases of property and equipment (1,179) (2,358)
Net cash provided by (used in) investing activities 40,952 (32,614)
Cash flow from financing activities    
Repurchase of unvested shares of stock (51) 0
Proceeds from initial public offering, net of issuance costs 0 125,114
Proceeds from issuance of common stock upon exercise of stock options, net of repurchases 695 3,331
Payment of preferred stock issuance costs 0 (135)
Net cash provided by financing activities 644 128,310
Net decrease (increase) in cash and cash equivalents 5,004 71,572
Cash, cash equivalents and restricted cash at beginning of period 71,267 98,629
Cash, cash equivalents and restricted cash at end of period 76,271 170,201
Non-cash investing and financing activities:    
Unpaid portion of property and equipment purchases included in accounts payable and accrued liabilities 48 1,007
Vesting of early exercised stock options and restricted stock $ 533 $ 647