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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (18,367) $ (41,911)
Adjustments to reconcile net loss to net cash used in operating activities:    
In-process research and development acquired   30,885
Depreciation expense 36 40
Impairment of property and equipment 61  
Stock-based compensation expense 2,976 401
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 718 (322)
Accounts payable 1,090 (394)
Accrued liabilities 391 (3,319)
Net cash used in operating activities (13,095) (14,620)
Cash flows from investing activities:    
Cash and restricted cash acquired in reverse merger   3,582
Net cash provided by investing activities   3,582
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs   24,016
Payment of offering costs (66)  
Proceeds from exercise of stock options 61 258
Net cash (used in) provided by financing activities (5) 24,274
Net (decrease) increase in cash and cash equivalents (13,100) 13,236
Cash and cash equivalents — beginning of period 58,765 6,939
Cash and cash equivalents — end of period 45,665 20,175
Non-cash investing and financing activities:    
Conversion of preferred stock to common stock   10,515
Issuance of common stock to Tocagen shareholders   31,809
Unpaid offering costs $ 40 $ 297