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Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Cash flows from operating activities:      
Consolidated net loss $ (12,421) $ (24,575) $ (17,547)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   144 244
Stock-based compensation 517 934 758
Amortization of premium of available-for-sale investment securities   434 106
Amortization of right-of-use assets   440 411
Gain on disposal of property and equipment   (89)  
Changes in operating assets and liabilities:      
Other receivables   9 1,949
Prepaid expenses and other assets   831 (405)
Accounts payable and accrued expenses   3,108 1,379
Operating lease liability   (472) (414)
Net cash used in operating activities   (19,236) (13,519)
Cash flows from investing activities:      
Purchases of property and equipment   (96) (113)
Purchases of available-for-sale investment securities   (11,176) (40,024)
Maturities of available-for-sale investment securities   35,700 12,768
Proceeds from sale of property and equipment   169  
Net cash provided by (used in) investing activities   24,597 (27,369)
Cash flows from financing activities:      
Proceeds from issuance of common stock through option exercises   1 1
Proceeds from issuance of common stock through employee stock purchase plan   5 5
Proceeds from issuance of common stock from at-the-market offerings, net of offering costs   1,514 10,886
Proceeds from issuance of common stock from committed purchase agreement, net of offering costs     15,236
Net cash provided by financing activities   1,520 26,128
Net change in cash, cash equivalents and restricted cash   6,881 (14,760)
Cash, cash equivalents and restricted cash at beginning of period   2,336 16,952
Cash, cash equivalents and restricted cash at the end of period 9,217 9,217 2,192
Cash and cash equivalents at the end of period 8,484 8,484 2,192
Restricted cash at the end of period 733 733  
Cash, cash equivalents and restricted cash at the end of period $ 9,217 9,217 $ 2,192
Supplemental schedule of noncash investing and financing activities:      
Purchases of property and equipment in accounts payable   143  
Right-of-use assets obtained in exchange for lease obligation   $ 368