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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (10,134) $ (9,948)
Adjustments to reconcile net loss to net cash used in by operating activities:    
Depreciation and amortization 30 62
Stock-based compensation 702 414
Amortization of debt issuance cost 111 112
Net amortization on investments (44) 42
Changes in operating lease liabilities 1 21
Changes in assets and liabilities:    
Accounts receivable (53) 606
Inventories (91) 75
Prepaid expenses and other assets (235) (1,343)
Accounts payable 472 (29)
Accrued and other liabilities (1,680) (2,800)
Contract research liabilities (161) (537)
Deferred revenue 373 465
Total adjustments (575) (2,912)
Net cash used in by operating activities (10,709) (12,860)
Cash flows from investing activities    
Purchases of property and equipment (3) (137)
Purchases of available-for-sale securities (29,698) (4,545)
Proceeds from maturities of available-for-sale securities 10,616 14,435
Net proceeds from sale of LACTEL product line 14,979  
Net cash (used in) provided by investing activities (4,106) 9,753
Cash flows from financing activities    
Payments on equipment financing obligations (1) (1)
Net proceeds from issuances of common stock 51,049 761
Net cash provided by financing activities 51,048 760
Net increase (decrease) in cash, cash equivalents, and restricted cash 36,233 (2,347)
Cash, cash equivalents, and restricted cash, beginning of the period [1] 21,462 35,074
Cash, cash equivalents, and restricted cash, end of the period [1] $ 57,695 $ 32,727
[1] Includes restricted cash of $150,000 (in long term restricted investments) included in the condensed balance sheets at March 31, 2021 and December 31, 2020.