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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net loss $ (12,772) $ (9,345)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,622 1,871
Depreciation and amortization 249 193
Bad debts expense 192 0
Accretion on marketable securities (25) (479)
Amortization of debt issuance costs 65 65
Loss on sale and disposal of property and equipment 0 97
Changes in operating assets and liabilities:    
Accounts receivable 2,207 87
Inventory (256) (165)
Prepaid expenses and other assets 581 (167)
Accounts payable 76 451
Accrued liabilities and other (2,294) 314
Net cash used in operating activities (9,355) (7,078)
Cash flows from investing activities    
Maturities of marketable securities 21,000 17,600
Purchases of marketable securities (16,777) (22,741)
Purchases of property and equipment (884) (412)
Net cash provided by (used in) investing activities 3,339 (5,553)
Cash flows from financing activities    
Proceeds from follow-on public offering, net of underwriting discounts, commissions and offering costs 62,978 0
Proceeds from the exercise of stock options 174 125
Net cash provided by financing activities 63,152 125
Effect of exchange rate changes on cash and cash equivalents (3) (53)
Net decrease in cash and cash equivalents 57,133 (12,559)
Cash and cash equivalents at    
Beginning of period 10,435 25,120
End of period 67,568 12,561
Supplemental disclosure of non-cash information    
Vesting of early exercised stock options 27 66
Purchases of property and equipment included in accounts payable and accrued liabilities 52 140
Public offering costs included in accounts payable $ 0 $ 167