CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
6 Months Ended |
12 Months Ended |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Dec. 31, 2018 |
| Cash flows from operating activities: |
|
|
|
|
| Net loss |
|
$ (71,971)
|
$ (35,650)
|
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
| Stock-based compensation expense |
|
20,082
|
8,515
|
|
| Depreciation and amortization expense |
|
1,446
|
502
|
|
| Change in fair value of preferred stock warrant liability |
$ 1,718
|
|
1,761
|
|
| Accretion of discount on investments |
|
(1,215)
|
(120)
|
|
| Loss on disposal of property and equipment |
|
119
|
|
|
| Non-cash interest expense |
|
114
|
21
|
|
| Changes in operating assets and liabilities: |
|
|
|
|
| Prepaid expenses and other current assets |
|
(1,142)
|
(265)
|
|
| Operating lease, right-of-use-asset |
|
2,052
|
|
|
| Accounts payable |
|
(4,741)
|
3,033
|
|
| Accrued expenses and other current liabilities |
|
2,612
|
1,434
|
|
| Deferred rent |
|
|
(18)
|
|
| Operating lease liabilities |
|
(67)
|
|
|
| Net cash used in operating activities |
|
(52,711)
|
(20,787)
|
|
| Cash flows from investing activities: |
|
|
|
|
| Purchases of property, plant and equipment |
|
(17,415)
|
(1,458)
|
|
| Purchases of investments |
|
(176,899)
|
(78,425)
|
|
| Sales and maturities of investments |
|
54,174
|
13,710
|
|
| Net cash used in investing activities |
|
(140,140)
|
(66,173)
|
|
| Cash flows from financing activities: |
|
|
|
|
| Proceeds from issuance of convertible preferred stock, net of issuance costs |
|
|
100,986
|
|
| Payments of initial public offering costs |
|
|
(715)
|
|
| Proceeds from repayment of promissory note |
|
|
245
|
|
| Proceeds from borrowings under loan and security agreement |
|
25,000
|
|
|
| Proceeds from issuance of common stock upon exercise of stock options |
|
1,371
|
18
|
|
| Net cash provided by financing activities |
|
26,371
|
100,534
|
|
| Net increase (decrease) in cash, cash equivalents and restricted cash |
|
(166,480)
|
13,574
|
|
| Cash, cash equivalents and restricted cash at beginning of period |
|
309,421
|
104,572
|
$ 104,572
|
| Cash, cash equivalents and restricted cash at end of period |
$ 118,146
|
142,941
|
118,146
|
$ 309,421
|
| Supplemental cash flow information: |
|
|
|
|
| Cash paid for interest, net of interest capitalized |
|
1,033
|
|
|
| Cash paid for leases |
|
1,084
|
|
|
| Supplemental disclosure of non-cash investing and financing information: |
|
|
|
|
| Lease assets obtained in exchange for new operating lease liabilities |
|
27,944
|
|
|
| Purchases of property, plant and equipment included in accounts payable or accrued expenses |
|
$ 4,739
|
850
|
|
| Amounts capitalized under build-to-suit lease transaction |
|
|
16,918
|
|
| Deferred offering costs and issuance costs included in accounts payable or accrued expenses |
|
|
$ 1,769
|
|