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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES:      
Net loss $ (72,148) $ (25,991) $ (21,785)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 882 684 582
Share-based compensation expense 6,764 1,982 1,259
Loss from equity-method investment 263 25 302
Other non-cash expenses 162 873 38
Changes in operating assets and liabilities:      
Accounts receivable 54 2,302 (4,001)
Prepaid expenses and other assets (2,011) (120) 421
Accounts payable 4,812 3,155 578
Accrued liabilities 11,320 1,675 1,687
Deferred revenue 7,041 8,970 159
Net cash used in operating activities (42,861) (6,445) (20,760)
INVESTING ACTIVITIES:      
Acquisition of property and equipment (1,742) (818) (1,478)
Purchases of short-term investments     (6,594)
Proceeds from maturities of short-term investments     30,206
Net cash (used in) provided by investing activities (1,742) (818) 22,134
FINANCING ACTIVITIES:      
Proceeds from long-term debt, net of lender fees   4,945 9,872
Proceeds from exercise of stock options 2,726 139 332
Proceeds from issuance of common stock, net of issuance costs 423,819 21,278  
Net cash provided by financing activities 436,145 41,907 10,204
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 391,542 34,644 11,578
Cash, cash equivalents and restricted cash at beginning of year 71,460 36,816 25,238
Cash, cash equivalents and restricted cash at end of year 463,002 71,460 36,816
Supplemental disclosure of cash flow information:      
Cash paid for interest 751 691 146
Non-cash investing activities      
Right-of-use asset obtained in exchange for lease liabilities 1,360 5,868  
Sale of intangible assets for equity-method investment     590
Purchase of property and equipment in accounts payable 169 240 30
Release of repurchase liability for restricted shares     $ 39
Ultragenyx [Member]      
FINANCING ACTIVITIES:      
Proceeds from exercise of stock option by Ultragenyx and issuance of common stock and option, net of issuance costs, to Ultragenyx $ 9,600 $ 15,545