Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Operating activities |
|
|
| Net loss |
$ (16,133)
|
$ (8,934)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
502
|
94
|
| Amortization of premium and discounts on marketable securities |
(33)
|
13
|
| Stock-based compensation |
1,370
|
413
|
| Accretion of tenant improvement allowance |
(152)
|
(151)
|
| Changes in operating assets and liabilities: |
|
|
| Contribution receivable |
1,382
|
|
| Prepaid expenses and other current assets |
291
|
(319)
|
| Other long-term assets |
(4)
|
26
|
| Accounts payable |
1,830
|
1,045
|
| Accrued compensation |
(1,223)
|
(190)
|
| Accrued liabilities and other current liabilities |
239
|
(66)
|
| Deferred rent, net of current portion |
48
|
209
|
| Net cash used in operating activities |
(11,883)
|
(7,860)
|
| Investing activities |
|
|
| Purchase of marketable securities |
(6,225)
|
(59,214)
|
| Maturities of marketable securities |
19,273
|
|
| Purchase of property and equipment |
(101)
|
(294)
|
| Net cash provided by (used in) investing activities |
12,947
|
(59,508)
|
| Financing activities |
|
|
| Proceeds from issuance of convertible preferred stock, net of issuance costs |
54,951
|
7,984
|
| Proceeds from issuance of common stock upon exercise of stock options, net of repurchases |
27
|
2
|
| Payments of deferred offering costs |
(569)
|
|
| Payments made on capital lease obligations |
(17)
|
|
| Net cash provided by financing activities |
54,392
|
7,986
|
| Net increase (decrease) in cash, cash equivalents and restricted cash |
55,456
|
(59,382)
|
| Cash, cash equivalents and restricted cash at beginning of year |
7,848
|
89,736
|
| Cash, cash equivalents and restricted cash at end of year |
63,304
|
30,354
|
| Supplemental Disclosures of Non-Cash Investing and Financing Information |
|
|
| Property and equipment included in accounts payable |
34
|
$ 126
|
| Receipt of promissory note from related party for purchase of common stock |
390
|
|
| Receipt of promissory note from employees for purchase of common stock |
400
|
|
| Deferred offering costs included in accrued liabilities and accounts payable |
$ 1,138
|
|