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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income (loss) $ (8,381) $ 555
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Stock-based compensation 543 584
Non-cash interest expense 109 166
Non-cash change in fair value of PIPE Warrant liability (2,648) (8,815)
Amortization of premium and discount on investments (51)  
Changes in operating assets and liabilities:    
Accounts receivable (1,148) 455
Prepaid expenses and other current assets 559 241
Other noncurrent assets (1,383)  
Accounts payable 1,499 (1,390)
Accrued contract research (580) 98
Other accrued liabilities (860) (778)
Other current liabilities 438  
Deferred revenue (493) 546
Deferred research and development reimbursements 117 (118)
Other non-current liabilities 592  
Net cash used in operating activities (11,687) (8,456)
Investing activities    
Purchases of property and equipment (100)  
Purchases of marketable securities (7,152)  
Proceeds from maturities and sales of marketable securities 15,000  
Net cash provided by investing activities 7,748  
Financing activities    
Proceeds from issuance of common stock and warrants, net of issuance costs   7,512
Payment of principal of loan payable (Note 6) (2,389)  
Net cash (used in) provided by financing activities (2,389) 7,512
Net decrease in cash and cash equivalents (6,328) (944)
Cash and cash equivalents at beginning of period 29,785 24,427
Cash and cash equivalents at end of period 23,457 23,483
Supplemental cash flow information    
Cash paid for interest 368 507
Right-of-use asset obtained in exchange for operating lease liabilities $ 1,225  
Non-cash operating activity    
Deferred offering costs accrued at period end   $ 212