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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (22,122) $ (8,381)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 17  
Stock-based compensation 1,204 543
Non-cash interest expense 140 109
Non-cash change in fair value of PIPE Warrant liability 2,396 (2,648)
Amortization of premium and discount on investments   (51)
Changes in operating assets and liabilities:    
Trade receivables, net (1,144) (1,148)
Partnership receivables (225)  
Prepaid expenses and other current assets 468 559
Operating lease right-of-use asset 113 (1,383)
Other non-current assets (100)  
Accounts payable 583 1,499
Accrued contract research 735 (580)
Other accrued liabilities 260 (860)
Operating lease liability (38) 438
Deferred revenue (493) (493)
Deferred research and development reimbursements (52) 117
Operating lease liability, non-current (76) 592
Net cash used in operating activities (18,334) (11,687)
Investing activities    
Purchases of marketable securities   (7,152)
Proceeds from maturities and sales of marketable securities   15,000
Purchases of property and equipment   (100)
Net cash provided by investing activities   7,748
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 54,980  
Proceeds from issuance of loan payable 20,000  
Proceeds from warrant exercises 3,092  
Payment on principal of loan payable (Note 6)   (2,389)
Payment of debt issuance costs (85)  
Net cash provided by (used in) financing activities 77,987 (2,389)
Net increase (decrease) in cash and cash equivalents 59,653 (6,328)
Cash and cash equivalents at beginning of period 61,761 29,785
Cash and cash equivalents at end of period 121,414 23,457
Supplemental cash flow information    
Cash paid for interest $ 362 368
Right-of-use asset obtained in exchange for operating lease liabilities   $ 1,225