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Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net (loss) income $ (22,643) $ 29,248
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Gain from sale of priority review voucher   (46,493)
Income related to asset purchase agreement   (281)
Depreciation and amortization 73 67
Stock-based compensation 2,047 1,549
Amortization of debt securities premiums and discounts 330 191
Non-cash interest expense 200 199
Amortization of operating lease right-of-use assets 132 127
Common stock issued under Product Development Agreement 19 53
Change in operating assets and liabilities:    
Accounts receivable 289 (639)
Inventories 666 (1,304)
Prepaid expenses and other current assets (854) 1,529
Other assets (397) (18)
Accounts payable 1,269 3,175
Accrued liabilities 560 (2,205)
Operating lease liabilities (150) (131)
Net cash used in operating activities (18,459) (14,933)
Investing activities    
Purchase of debt securities available-for-sale (10,902) (2,049)
Proceeds from maturities of debt securities available-for-sale 7,900 49,755
Proceeds from sale of priority review voucher   95,000
Payments related to priority review voucher   (48,507)
Proceeds related to asset purchase agreement   281
Purchase of property and equipment   (16)
Net cash (used in) provided by investing activities (3,002) 94,464
Financing activities    
Issuance of common stock upon offering at-the-market, net of commissions 45,610  
Proceeds from issuance of common stock upon stock option exercises 144 166
Proceeds from issuance of common stock upon ESPP purchase 64 146
Common stock offering costs (16) (122)
Payment of debt issuance costs   (175)
Net cash provided by financing activities 45,802 15
Net increase in cash and cash equivalents 24,341 79,546
Cash and cash equivalents at beginning of period 22,221 28,864
Cash and cash equivalents at end of period 46,562 108,410
Supplemental disclosure of cash flow information:    
Interest paid 686 $ 686
Income taxes paid $ 41