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
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net loss $ (22,106) $ (8,917)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 208 275
Stock-based compensation 2,742 2,355
Deferred rent expense 588 0
Other (151) 54
Changes in operating assets and liabilities (7,122) 28,584
Net cash (used in) provided by operating activities (25,841) 22,351
Investing activities:    
Purchases of property and equipment (1,054) (808)
Proceeds from maturity of investments 35,647 10,974
Purchases of investments (26,997) (67,222)
Net cash provided by (used in) investing activities 7,596 (57,056)
Financing activities:    
Proceeds from exercise of stock options 97 839
Proceeds from exercise of warrants 5 182
Proceeds from employee stock purchase plan 178 0
Issuance of common stock, net of issuance costs 0 47,207
Net cash provided by financing activities 280 48,228
Effect of exchange rate change on cash and cash equivalents (2,001) (825)
Net (decrease) increase in cash and cash equivalents (19,966) 12,698
Cash and cash equivalents at beginning of period 74,867 37,878
Cash and cash equivalents at end of period 54,901 50,576
Supplemental cash flow disclosures:    
Net unrealized gain on investments 93 1,667
Property and equipment included in accounts payable $ 31 $ 202