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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (40,174) $ (52,108)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 1,370 525
Amortization (accretion) on marketable securities 0 (182)
Non-cash interest expense 87 87
Non-cash lease expense 634 401
Non-cash (income) expense from collaborative arrangements, net (2,406) (1,134)
Stock-based compensation expense 5,551 7,495
Impairment of advance for COVAXIN supply 0 4,074
Loss on disposal of fixed assets related to COVAXIN 0 363
Other 28 379
Changes in assets and liabilities:    
Prepaid expenses and other current assets 1,701 132
Accounts payable and accrued expenses 2,048 (10,402)
Lease obligations (617) (382)
Net cash used in operating activities (31,778) (50,752)
Cash flows from investing activities    
Purchases of marketable securities 0 (3,947)
Proceeds from the maturities of marketable securities 0 17,500
Purchases of property and equipment (3,372) (7,754)
Net cash (used in) provided by investing activities (3,372) 5,799
Cash flows from financing activities    
Proceeds (payments) from issuance of common stock, net 37,575 20,788
Payment of equity issuance costs (2,889) (355)
Proceeds from issuance of debt 0 500
Payment of debt issuance costs 0 (68)
Net cash provided by financing activities 34,686 20,865
Effect of changes in exchange rate on cash and restricted cash 3 2
Net (decrease) in cash and restricted cash (461) (24,086)
Cash and restricted cash at beginning of period 39,462 77,563
Cash and restricted cash at end of period 39,001 53,477
Supplemental disclosure of non-cash investing and financing transactions:    
Purchases of property and equipment 0 1,969
Series B Convertible Preferred Stock reacquisition 1 0
Right-of-use asset related to operating leases $ 103 $ 0