XML 23 R7.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net loss $ (19,816) $ (98,776)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain from sale of PRV, net of transaction costs (107,375)  
Depreciation and amortization 418 355
Amortization of debt issuance costs 1,663 549
Accretion of revenue interest financing debt 956  
Stock-based compensation expense 14,890 13,867
Amortization of net contract asset/liability (1,052) (105)
Noncash lease expense 251 312
Noncash lease liability 344 309
Write off of fixed assets 828 243
Issuance of common stock for cost of license agreement 1,169  
Unrealized loss (gain) on foreign currency transactions 930 (930)
Changes in operating assets and liabilities:    
Refund liability (22,163) 22,163
Net contract asset/liability 17,894 (452)
Prepaid expenses and other current assets, non-current assets, inventory and accounts receivable (5,577) (853)
Accounts payable and accrued expenses 3,754 7,841
Net cash used in operating activities (112,886) (55,477)
Cash flows from investing activities    
Proceeds from sale of PRV, net of transaction costs 107,375  
Proceeds from sale of property and equipment 171  
Maturities of short-term investments   1,474
Deposit on property and equipment   (1,793)
Purchases of property and equipment (1,774) (1,096)
Net cash provided by (used in) investing activities 105,772 (1,415)
Cash flows from financing activities    
Proceeds from exercise of stock options 1,794 1,199
Proceeds from notes payable, net of fees 28,588 40,259
Proceeds from revenue interest financing agreement, net of issuance costs 29,921  
Payments of revenue interesting financing debt (42)  
Financing costs, paid   (148)
Proceeds from equity offerings, net of offering costs 64,477  
Net cash provided by financing activities 124,738 41,310
Net increase in cash and cash equivalents 117,624 (15,582)
Cash and cash equivalents-beginning of period 122,927 138,509
Cash and cash equivalents-end of period 240,551 122,927
Supplemental disclosure of cash flow information    
Debt issuance costs included in accrued expenses   900
Property and equipment in accrued expenses 22 43
Cash paid for interest during the year 7,892 $ 2,032
Property and equipment in deposits placed in service $ 1,664