Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.19.2
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net loss $ (5,403) $ (9,515)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 41 54
Stock-based compensation expense 2,087 1,912
Amortization of premiums and discounts on marketable securities, net (162) (127)
Accrued interest included in convertible note payable 0 372
Changes in operating assets and liabilities:    
Collaboration receivables 483 (1,486)
Prepaid and other current assets 616 277
Accounts payable and accrued expenses 2,452 (334)
Accrued compensation (1,447) (523)
Deferred revenue (10,760) (7,811)
Lease liabilities, net (27) 0
Deferred rent 0 (20)
Other assets 0 (246)
Net cash used in operating activities (12,120) (17,447)
Investing activities    
Maturities of marketable securities 28,500 36,925
Purchase of marketable securities (14,501) (24,067)
Capital expenditures (11) (5)
Net cash provided by investing activities 13,988 12,853
Financing activities    
Proceeds from stock issuances related to exercise of stock options and employee stock purchase plan 4 154
Net cash provided by financing activities 4 154
Net increase (decrease) in cash and cash equivalents 1,872 (4,440)
Cash and cash equivalents at beginning of period 11,565 16,079
Cash and cash equivalents at end of period $ 13,437 $ 11,639