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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (70,471) $ (50,006)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 262 243
Amortization of debt issuance costs 319  
Stock-based compensation expense 10,867 5,521
Noncash contract asset (41)  
Noncash lease expense 232 194
Noncash lease liability 237 276
Changes in operating assets and liabilities:    
Refund Liability 21,828  
Contract asset (1,018)  
Prepaid expenses and other current assets, non-current assets, and accounts receivable (453) (1,496)
Accounts payable, accrued expenses and other long term-liabilities 4,511 754
Net cash used in operating activities (33,727) (44,514)
Cash flows from investing activities    
Maturities of short-term investments 1,474 5,711
Purchases of short-term investments   (8,931)
Deposit on property and equipment (1,329)  
Purchases of property and equipment (839)  
Net cash used in investing activities (694) (3,220)
Cash flows from financing activities    
Proceeds from exercise of stock options 902 616
Proceeds from notes payable, net of issuance costs 40,259  
Financing costs, paid (148)  
Proceeds from equity offerings, net of offering costs   43,512
Net cash provided by financing activities 41,013 44,128
Net increase (decrease) in cash and cash equivalents 6,592 (3,606)
Cash and cash equivalents-beginning of period 138,509 90,943
Cash and cash equivalents-end of period 145,101 87,337
Supplemental disclosure of cash flow information    
Contractual exit fee included in notes payable 900  
Property and equipment in accrued expenses $ 107  
Conversion of preferred stock to common stock   $ 17