Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (7,485) $ (3,532)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 873 496
Depreciation 76  
Prepaid expenses and other current assets 1,230 749
Other assets (4) (28)
Accounts payable 1,176 (302)
Accrued and other current liabilities (797) 352
Net cash used in operating activities (4,931) (2,265)
Cash flows from investing activities:    
Purchases of property and equipment (226) (180)
Net cash used in investing activities (226) (180)
Cash flows from financing activities:    
Proceeds from issuance of convertible preferred stock   50,000
Issuance costs of convertible preferred stock   (216)
Issuance costs of common stock (44)  
Payment of deferred offering costs   (121)
Net cash (used in) provided by financing activities (44) 49,663
Net (decrease) increase in cash and cash equivalents (5,201) 47,218
Cash and cash equivalents—beginning of period 136,204 33,017
Cash and cash equivalents—end of period 131,003 80,235
Supplemental disclosures of non-cash investing and financing activities:    
Exchange of convertible preferred stock, including deemed dividend   10,090
Issuance costs included in accounts payable $ 147 1,077
Deferred offering costs in accrued expenses and accounts payable   $ 547