XML 19 R8.htm IDEA: XBRL DOCUMENT v3.19.2
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net loss $ (20,966) $ (10,173)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 300 188
Stock-based compensation expense 2,585 633
Loss on fixed asset disposal 0 2
Accretion on investments (252) (76)
Changes in operating assets and liabilities:    
Interest receivable on investments (325) (78)
Prepaid expenses and other current assets (3,158) 153
Accounts payable 180 1,165
Accrued expenses and other liabilities 646 493
Cash used in operating activities (20,990) (7,693)
Investing activities:    
Purchase of investments (106,566) (32,343)
Proceeds from sale or maturity of investments 42,619 5,530
Purchases of equipment (941) (772)
Cash used in investing activities (64,888) (27,585)
Financing activities:    
Proceeds from the sale of Series B preferred stock 0 125,000
Proceeds from initial public offering, net of issuance costs 80,213 0
Proceeds from the exercise of stock options 18 219
Deferred offering costs (1,047) (57)
Payment of issuance costs 0 (150)
Cash provided by financing activities 79,184 125,012
Net change in cash, cash equivalents, and restricted cash (6,694) 89,734
Cash, cash equivalents, and restricted cash at beginning of year 47,964 20,101
Cash, cash equivalents, and restricted cash at end of period 41,270 109,835
Supplemental disclosure of noncash investing and financing activities:    
Conversion of redeemable convertible preferred stock to common stock 259,130 0
Accretion of redeemable preferred stock to redemption value 49,900 21,978
Deferred offering costs included in accounts payable 309 254
Property and equipment additions in accounts payable 893 19
Reclassification of early exercise liability upon vesting of options $ 26 $ 26