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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (19,361) $ (27,141)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 85 85
Amortization of debt issuance costs 282  
Stock-based compensation expense 3,379 5,035
Amortization of net contract asset/liability (375)  
Noncash lease expense 80 73
Noncash lease liability 69 82
Write-off of fixed assets 61  
Issuance of common stock for cost of license agreement 1,168  
Unrealized loss on foreign currency transactions 930  
Changes in operating assets and liabilities:    
Refund Liability (22,163)  
Net contract asset/liability 10,045  
Prepaid expenses and other current assets, non-current assets, and accounts receivable (1,072) 366
Accounts payable, accrued expenses and other long term-liabilities (783) 5,325
Net cash used in operating activities (27,655) (16,175)
Cash flows from investing activities    
Maturities of short-term investments   1,474
Deposit on property and equipment   (404)
Purchases of property and equipment (86) (28)
Net cash (used in) provided by investing activities (86) 1,042
Cash flows from financing activities    
Proceeds from exercise of stock options 1,733 244
Proceeds from notes payable, net of upfront fee 29,400  
Financing costs, paid   (148)
Net cash provided by financing activities 31,133 96
Net (decrease) increase in cash and cash equivalents 3,392 (15,037)
Cash and cash equivalents-beginning of period 122,927 138,509
Cash and cash equivalents-end of period 126,319 $ 123,472
Supplemental disclosure of cash flow information    
Debt issuance costs included in accrued expenses 563  
Property and equipment in accrued expenses 205  
Property and equipment in deposits placed in service $ 337