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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (26,773) $ (28,071)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense (3) 463
Non-cash lease expense 902 842
Stock-based compensation 2,912 3,722
Change in derivative liabilities 70 15
Debt refinancing costs 0 102
Gain on sale of equipment 0 (710)
Impairment of long-lived assets 429 0
Non-cash interest expense 1,044 109
Changes in operating assets and liabilities:    
Accounts receivable (4,387) (3,892)
Inventory (16,601) (3,487)
Prepaid commercial manufacturing (268) (9,393)
Prepaid expenses and other assets (774) 9,086
Accounts payable (346) 753
Accrued compensation and benefits (2,474) 882
Operating lease liabilities (937) (836)
Accrued and other liabilities (1,396) (1,041)
Deferred revenue 3,807 3,836
Net cash used in operating activities (44,795) (27,620)
Investing activities    
Proceeds from maturities and redemptions of investments 11,000 27,300
Purchases of investments (20,763) (25,763)
Proceeds from sale of property and equipment 0 795
Purchases of property and equipment (14) 0
Net cash (used in) provided by investing activities (9,777) 2,332
Financing activities    
Proceeds from 2022 Loan, net of issuance costs 0 26,971
Payments for 2018 Loan, net of costs 0 (33,038)
Proceeds from issuance of common stock in at the market offering, net of issuance costs 50,719 5,921
Proceeds from issuance of common stock under equity incentive and stock purchase plans 200 83
Net cash provided by (used in) financing activities 50,919 (63)
Net decrease in cash and cash equivalents (3,653) (25,351)
Cash and cash equivalents at beginning of period 96,140 72,428
Cash and cash equivalents at end of period 92,487 47,077
Supplementary disclosure of cash flow information:    
Cash paid for interest 860 741
Cash paid for income taxes 0 1
Supplementary disclosure of non-cash activities:    
Issuance of derivative in connection with issuance of loan payable $ 0 $ 375