Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.19.3
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net loss $ (8,656) $ (14,104)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 62 72
Stock-based compensation expense 3,239 2,860
Amortization of premiums and discounts on marketable securities, net (199) (230)
Accrued interest included in convertible note payable 0 560
Changes in operating assets and liabilities:    
Collaboration receivables 2,027 (742)
Prepaid and other current assets 167 305
Other assets 0 (246)
Accounts payable and accrued expenses (405) (2,863)
Accrued compensation (1,927) (32)
Deferred revenue (12,486) (11,367)
Lease liabilities, net (42) 0
Deferred rent 0 (32)
Net cash used in operating activities (18,220) (25,819)
Investing activities    
Maturities of marketable securities 40,470 56,435
Purchase of marketable securities (15,494) (33,678)
Capital expenditures (11) (15)
Net cash provided by investing activities 24,965 22,742
Financing activities    
Deferred financing costs 0 (107)
Proceeds from stock issuances related to exercise of stock options and employee stock purchase plan 4 413
Net cash provided by financing activities 4 306
Net increase (decrease) in cash and cash equivalents 6,749 (2,771)
Cash and cash equivalents at beginning of period 11,565 16,079
Cash and cash equivalents at end of period $ 18,314 $ 13,308