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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net loss $ (53,430) $ (40,462)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 490 522
Amortization of premiums (accretion of discounts) on investments 0 (154)
Non-cash lease expense 861 1,008
(Gain) Loss on disposal of property and equipment (39) 67
Stock-based compensation expense 4,186 3,734
Non-cash interest expense 406 338
Warrant liabilities revaluation 3,606 0
Loss on extinguishment of debt 461 0
Net realized losses on investments 0 (1)
Changes in operating assets and liabilities:    
Accounts receivable (7,626) 0
Prepaid expenses, deposits and other assets (6,656) 3,070
Accounts payable (29) 378
Deferred revenue 99,512 (13)
Accrued expenses and other liabilities 389 (7,046)
Net cash provided by (used in) operating activities 42,131 (38,559)
Cash flows from investing activities    
Receipts from the maturity of short-term investments 0 16,350
Purchases of short-term investments 0 (18,188)
Sale of short term investments 0 1,992
Purchases of property and equipment (625) (10)
Proceeds from the sale of property and equipment 50 94
Net cash (used in) provided by investing activities (575) 238
Cash flows from financing activities    
Proceeds from issuance of long-term debt, net of expenses 24,838 0
Repayments of principal on outstanding debt (19,313) (700)
Net proceeds from issuance of common stock 0 30,942
Issuance costs paid for December 2019 financing (4,381) 0
Other financing fees (192) 0
Proceeds from exercise of pre-funded and common warrants 978 0
Proceeds from exercise of stock options 101 150
Proceeds from issuance of common stock under Employee Stock Purchase Plan 184 28
Net cash provided by financing activities 14,621 36,507
Effect of exchange rate changes on cash (88) 24
Net change in cash, cash equivalents, and restricted cash 56,089 (1,790)
Cash, cash equivalents, and restricted cash at beginning of period 91,551 37,682
Cash, cash equivalents, and restricted cash at end of period 147,640 35,892
Supplement cash flow information    
Cash paid for interest 519 1,652
Noncash investing and financing activities    
Cashless warrant exercise 18,228 0
Reclassification of warrant liability to equity upon exercise of warrants 1,494 0
Fair value of warrants issued in connection with issuance of long-term debt 444 0
Purchase of property and equipment not yet paid 17 0
Equity offering costs in accrued liabilities 117 0
Debt issuance costs in accrued liabilities 100 0
At-The-Market Offering    
Cash flows from financing activities    
Net proceeds from issuance of common stock 2,137 372
Private Placement    
Cash flows from financing activities    
Net proceeds from issuance of common stock $ 10,269 $ 5,715