Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.19.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net loss $ (4,747) $ (5,018)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 20 27
Stock-based compensation expense 926 983
Amortization of premiums and discounts on marketable securities, net (94) (55)
Accrued interest included in convertible note payable 0 185
Changes in operating assets and liabilities:    
Collaboration receivables (183) (2,480)
Prepaid and other current assets 453 339
Accounts payable and accrued expenses 1,133 2,678
Accrued compensation (1,295) (913)
Deferred revenue (3,164) (3,890)
Lease liabilities (13) 0
Deferred rent 0 (10)
Net cash used in operating activities (6,964) (8,154)
Investing activities    
Maturities of marketable securities 19,000 18,875
Purchase of marketable securities (4,424) (10,217)
Capital expenditures (9) (5)
Net cash provided by investing activities 14,567 8,653
Financing activities    
Proceeds from stock issuances related to exercise of stock options 0 37
Net cash provided by financing activities 0 37
Net increase in cash and cash equivalents 7,603 536
Cash and cash equivalents at beginning of period 11,565 16,079
Cash and cash equivalents at end of period $ 19,168 $ 16,615