Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (11,540) $ (10,297)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,481 326
Change in fair value of convertible notes   6,244
Obligation to issue common stock for research and development   1,155
Depreciation 53  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 449 (220)
Deposits (91)  
Accounts payable 552 (140)
Accrued and other current liabilities 934 179
Net cash used in operating activities (8,162) (2,753)
Cash flows from investing activities:    
Purchases of property and equipment (420)  
Net cash used in investing activities (420)  
Cash flows from financing activities:    
Proceeds from issuance of convertible notes   12,535
Proceeds from issuance of convertible preferred stock 50,000  
Issuance costs of convertible preferred stock (1,293)  
Payments of deferred offering costs (2,101)  
Net cash provided by financing activities 46,606 12,535
Net increase in cash and cash equivalents 38,024 9,782
Cash and cash equivalents—beginning of period 33,017 1
Cash and cash equivalents—end of period 71,041 9,783
Supplemental disclosures of non-cash financing activities:    
Exchange of convertible preferred stock, including deemed dividend 10,090  
Deferred offering costs in accrued expenses at end of period 462 $ 43
Property and equipment in accrued expenses at end of period $ 174