CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
9 Months Ended |
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2018 |
| Cash flows from operating activities: |
|
|
|
| Net loss |
|
$ (36,836)
|
$ (24,178)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
| Stock-based compensation expense |
$ 2,344
|
5,935
|
1,823
|
| Depreciation and amortization |
107
|
191
|
106
|
| Change in fair value of warrant liability |
|
|
5,452
|
| Net amortization of premiums and discounts on short-term investments |
|
(899)
|
(1,171)
|
| Noncash interest expense |
|
94
|
40
|
| Changes in operating assets and liabilities: |
|
|
|
| Research and development incentives receivable |
|
(2,184)
|
340
|
| Prepaid expenses and other current assets |
|
(1,520)
|
(589)
|
| Operating lease, right-of-use-asset |
|
421
|
|
| Finance lease, right-of-use-asset |
|
666
|
|
| Long term prepaid rent |
|
(14,051)
|
|
| Accounts payable |
|
(2,585)
|
(521)
|
| Accrued expenses and other current liabilities |
|
1,781
|
(767)
|
| Operating lease liabilities |
|
(303)
|
|
| Deferred rent |
|
|
120
|
| Net cash used in operating activities |
|
(49,290)
|
(19,345)
|
| Cash flows from investing activities: |
|
|
|
| Purchases of property, plant and equipment |
|
(5,202)
|
(752)
|
| Purchase of short-term investments |
|
(119,611)
|
(134,624)
|
| Proceed from sales and maturities of short-term investments |
|
111,739
|
58,958
|
| Net cash provided by (used in) investing activities |
|
(13,074)
|
(76,418)
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of common stock in follow-on public offering, net of underwriting fees and discounts |
|
57,453
|
|
| Proceeds from issuance of prefunded warrants to purchase common stock, net of underwriting fees and discounts |
|
28,145
|
|
| Proceeds from issuance of common stock through ATM sales |
|
4,431
|
|
| Proceeds from long-term debt |
|
10,000
|
|
| Payment of issuance costs |
|
(355)
|
(2,157)
|
| Exercise of stock options |
|
480
|
165
|
| Proceeds from issuance of common stock in initial public offering, net of underwriting fees and discounts |
|
|
103,341
|
| Principal payment of finance lease obligation |
(22)
|
(22)
|
|
| Net cash provided by financing activities |
|
100,132
|
101,349
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
(20)
|
(1,009)
|
| Net increase in cash, cash equivalents and restricted cash |
|
37,748
|
4,577
|
| Cash, cash equivalents and restricted cash at beginning of period |
|
26,890
|
17,661
|
| Cash, cash equivalents and restricted cash at end of period |
64,638
|
64,638
|
22,238
|
| Supplemental Cash Flow Information [Abstract] |
|
|
|
| Interest Paid, Excluding Capitalized Interest, Operating Activities |
|
282
|
|
| Supplemental disclosure of non-cash investing and financing activities: |
|
|
|
| Conversion of convertible preferred stock warrants into common stock warrants |
|
|
7,094
|
| Conversion of convertible preferred stock into common stock |
28,145
|
|
86,361
|
| Purchases of property and equipment included in accounts payable |
|
|
108
|
| Lease assets obtained in exchange for new financing lease liabilities |
48,224
|
48,224
|
|
| Lease assets obtained in exchange for new operating lease liabilities |
$ 5,152
|
$ 5,152
|
|
| Amounts capitalized under build-to-suit lease transaction |
|
|
$ 4,932
|