Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net loss $ (103,130) $ (77,056) $ (29,406)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation 152 136 65
Share-based compensation expense 2,173 1,290 392
Gain on short term investments (125) (423)  
Non-cash (gain) / loss on short term investments   (278) 44
Interest on short-term investments (5) (40) (95)
Amortization of debt discount and deferred financing costs 362 360  
Issuance of ordinary shares under subscription agreement 3,037 1,362  
Other 752 362  
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets 2,471 (3,613) (3,815)
Other assets (1,166) (2,273) (782)
Accounts payable 11,446 849 1,671
Accrued expenses 5,851 3,072 1,236
Income taxes 123 120 6
Other liabilities (826) 242 80
Net cash used in operating activities (78,885) (75,890) (30,604)
Cash flows from investing activities:      
Purchases of property and equipment (24) (90) (812)
Purchases of short-term investments   (96,493) (53,275)
Proceeds from sale of short-term investments 40,125 87,925 22,500
Net cash provided by / (used in) investing activities 40,101 (8,658) (31,587)
Cash flows from financing activities:      
Proceeds from issuance of debt, net of debt issuance costs   14,507  
Repayments of long-term debt (1,034)    
Proceeds from issuance of ordinary shares on initial public offering, net of issuance costs   74,153  
Proceeds from exercise of share options 60 7  
Net cash (used in) / provided by financing activities (974) 120,842 45,867
Effect of exchange rates on cash and cash equivalents (22) (108)  
Net (decrease) / increase in cash, cash equivalents and restricted cash (39,780) 36,186 (16,324)
Cash, cash equivalents and restricted cash, at beginning of period 44,671 8,485 24,809
Cash, cash equivalents and restricted cash, at end of period 4,891 44,671 8,485
Supplemental Disclosure of Cash Flow Information:      
Income tax paid—U.S. 414 352 439
Interest paid $ 1,399 809  
Series B Convertible Preferred Shares      
Cash flows from financing activities:      
Proceeds from issuance of convertible preferred shares   $ 32,175 $ 45,867