v3.19.3.a.u2
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net loss $ (66,894) $ (70,480) $ (77,992)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 9,115 7,704 5,987
Gain on disposal of assets     (732)
Loss on sublease     495
Depreciation and amortization 683 594 465
Net amortization and accretion of discount on short-term investments and term loan (1,073) (766) (350)
Changes in assets and liabilities:      
Accounts receivable, net (6,034) (4,077)  
Inventories (366) (839)  
Prepaid and other current assets (5,673) (1,797) (197)
Other assets 39 68 130
Right-of-use assets 7,118    
Accounts payable (2,239) 3,755 (2,947)
Accrued compensation (1,133) 2,893 2,974
Accrued research and development (803) 1,735 (853)
Other accrued liabilities 3,122 269 2,236
Lease liability (6,725)    
Deferred revenue 24,255 2,437  
Deferred rent and other long term liabilities 5,098 (322) (6,773)
Net cash used in operating activities (41,510) (58,826) (77,557)
Investing activities      
Purchases of short-term investments (145,327) (77,996) (116,861)
Maturities of short-term investments 123,126 104,066 96,820
Proceeds from disposal of assets     732
Capital expenditures (1,455) (1,106) (164)
Net cash (used in) provided by investing activities (23,656) 24,964 (19,473)
Financing activities      
Net proceeds from term loan financing 9,789    
Net proceeds from issuances of common stock upon exercise of options and participation in Purchase Plan 1,576 4,732 3,508
Proceeds from sale and issuance of common stock, net of offering costs   67,162 114,180
Net cash provided by financing activities 11,365 71,894 117,688
Net (decrease) increase in cash and cash equivalents (53,801) 38,032 20,658
Cash and cash equivalents at beginning of period 76,322 38,290 17,632
Cash and cash equivalents at end of period 22,521 $ 76,322 $ 38,290
Supplemental disclosure of cash flow information      
Interest paid $ 137    

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