Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net loss $ (22,830) $ (24,698) [1]
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 1,623 367 [1]
Right-of-use asset amortization (103) 315 [1]
Stock-based compensation 3,916 4,260 [1]
Other non-cash transactions (293) 90 [1]
Changes in operating assets and liabilities (14,792) (18,827) [1]
Net cash used in operating activities (32,479) (38,493) [1]
Investing activities:    
Purchases of property and equipment (2,148) (1,286) [1]
Proceeds from maturity of investments 67,687 61,767 [1]
Purchases of investments (41,178) (48,762) [1]
Net cash provided by investing activities 24,361 11,719 [1]
Financing activities:    
Proceeds from exercise of stock options 271 218 [1]
Proceeds from exercise of warrants 0 105 [1]
Proceeds from employee stock purchase plan 145 178 [1]
Issuance of common stock, net of issuance costs 9,624 0
Net cash provided by financing activities 10,040 501 [1]
Effect of exchange rate change on cash and cash equivalents 2,708 (2,526) [1]
Net decrease in cash and cash equivalents 4,630 (28,799) [1]
Cash and cash equivalents at beginning of period 62,260 74,867 [1]
Cash and cash equivalents at end of period 66,890 46,068 [1]
Supplemental cash flow disclosures:    
Net unrealized (loss)/gain on investments (319) 469 [1]
Property and equipment included in accounts payable $ 370 $ 198 [1]
[1] (1) Restated to conform to ASC 842. See accompanying Note 2.