Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net loss $ (77,056) $ (29,406) $ (13,464)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation 136 65 0
Share-based compensation expense 1,290 392 348
Gain on short term investments (423)    
Non-cash (gain) / loss on short term investments (278) 44  
Interest on short-term investments (40) (95)  
Amortization of debt discount and deferred financing costs 360    
Issuance of ordinary shares under subscription agreement 1,362    
Other 362    
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (3,613) (3,815) (966)
Other assets (2,273) (782) (1,052)
Accounts payable 849 1,671 1,188
Accrued expenses 3,072 1,236 2,665
Income taxes 120 6 (17)
Other liabilities 242 80  
Net cash used in operating activities (75,890) (30,604) (11,298)
Cash flows from investing activities:      
Purchases of property and equipment (90) (812)  
Purchases of short-term investments (96,493) (53,275)  
Proceeds from sale of short-term investments 87,925 22,500  
Net cash used in investing activities (8,658) (31,587)  
Cash flows from financing activities:      
Proceeds from issuance of debt, net of debt issuance costs 14,507    
Proceeds from issuance of ordinary shares on initial public offering, net of issuance costs 74,153    
Proceeds from exercise of share options 7    
Net cash provided by financing activities 120,842 45,867 20,851
Effect of exchange rates on cash and cash equivalents (108)    
Net increase / (decrease) in cash, cash equivalents and restricted cash 36,186 (16,324) 9,553
Cash, cash equivalents and restricted cash, at beginning of period 8,485 24,809 15,256
Cash, cash equivalents and restricted cash, at end of period 44,671 8,485 24,809
Supplemental Disclosure of Cash Flow Information:      
Income tax paid—U.S. 352 439 130
Interest paid 809    
Series A Convertible Preferred Shares      
Cash flows from financing activities:      
Proceeds from issuance of convertible preferred shares     $ 20,851
Series B Convertible Preferred Shares      
Cash flows from financing activities:      
Proceeds from issuance of convertible preferred shares $ 32,175 $ 45,867