Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (15,637) $ (6,890)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,940 912
Amortization of premium on investments 28  
Depreciation 154 21
Prepaid expenses and other current assets 672 93
Deferred offering costs   (817)
Other assets (137) (89)
Accounts payable 198 (120)
Accrued and other current liabilities 209 804
Net cash used in operating activities (12,573) (6,086)
Cash flows from investing activities:    
Purchases of property and equipment (246) (380)
Purchases of available-for-sale securities (11,097)  
Net cash used in investing activities (11,343) (380)
Cash flows from financing activities:    
Proceeds from issuance of convertible preferred stock   50,000
Issuance costs of convertible preferred stock   (1,293)
Issuance costs of common stock (191)  
Net cash (used in) provided by financing activities (191) 48,707
Net (decrease) increase in cash and cash equivalents (24,107) 42,241
Cash and cash equivalents—beginning of period 136,204 33,017
Cash and cash equivalents—end of period 112,097 75,258
Supplemental disclosures of non-cash investing and financing activities:    
Exchange of convertible preferred stock, including deemed dividend   10,090
Deferred offering costs in accrued expenses and accounts payable   $ 249
Property and equipment purchases included in accounts payable $ 126