Condensed Balance Sheets (Unaudited) - USD ($)
|
Mar. 31, 2018 |
Dec. 31, 2017 |
| Current assets: |
|
|
| Cash and cash equivalents |
$ 62,754,000
|
$ 7,298,000
|
| Contribution receivable |
|
1,382,000
|
| Short-term marketable securities |
71,281,000
|
79,212,000
|
| Deferred offering costs |
1,707,000
|
0
|
| Prepaid expenses and other current assets |
697,000
|
988,000
|
| Total current assets |
136,439,000
|
88,880,000
|
| Property and equipment, net |
6,591,000
|
6,958,000
|
| Long-term marketable securities |
|
5,118,000
|
| Restricted cash |
550,000
|
550,000
|
| Other long-term assets |
522,000
|
518,000
|
| Total assets |
144,102,000
|
102,024,000
|
| Current liabilities: |
|
|
| Accounts payable |
5,037,000
|
2,378,000
|
| Accrued compensation |
958,000
|
2,181,000
|
| Accrued and other current liabilities |
4,668,000
|
3,338,000
|
| Total current liabilities |
10,663,000
|
7,897,000
|
| Deferred rent, net of current portion |
3,062,000
|
3,166,000
|
| Other non-current liabilities |
101,000
|
118,000
|
| Total liabilities |
13,826,000
|
11,181,000
|
| Commitments and contingencies (Note 6) |
|
|
| Convertible preferred stock, $0.0001 par value; 103,283,818 and 91,739,149 shares authorized as of March 31, 2018 and December 31, 2017, respectively; 31,750,297 and 28,159,724 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively; aggregate liquidation preference of $245,825 as of March 31, 2018 and $190,825 as of December 31, 2017, respectively |
228,907,000
|
173,956,000
|
| Stockholders’ deficit: |
|
|
| Common stock, $0.0001 par value; 140,000,000 and 122,000,000 shares authorized as of March 31, 2018 and December 31, 2017, respectively; 5,230,976 and 4,830,389 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively |
1,000
|
1,000
|
| Additional paid-in capital |
5,511,000
|
4,072,000
|
| Related party promissory notes for purchase of common stock |
(592,000)
|
(202,000)
|
| Employee promissory notes for purchase of common stock |
(400,000)
|
|
| Accumulated other comprehensive loss |
(138,000)
|
(104,000)
|
| Accumulated deficit |
(103,013,000)
|
(86,880,000)
|
| Total stockholders’ deficit |
(98,631,000)
|
(83,113,000)
|
| Total liabilities, convertible preferred stock, and stockholders’ deficit |
$ 144,102,000
|
$ 102,024,000
|