XML 21 R7.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (101,167) $ (93,867) $ (88,696)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 8,687 5,199 6,180
Depreciation and amortization expense 419 513 499
Goodwill impairment 0 0 9,758
Non-cash lease expense 1,577 1,481 1,393
Accretion of debt discount 929 918 756
Change in fair value of warrant and derivative liability (7,074) 2,881 366
Other (227) 37 337
Changes in operating assets and liabilities:      
Prepaid expenses, other current assets and research and development incentive receivable (1,370) (610) (1,755)
Accounts payable 1,234 3,425 1,166
Accrued expenses and other long-term liabilities 1,608 3,803 (152)
Operating lease liabilities (1,128) (882) (698)
Operating lease right-of-use asset, net of non-cash portion 0 0 (59)
Net cash used in operating activities (96,512) (77,102) (70,905)
Cash flows from investing activities:      
Purchase of property, equipment and intangible assets (60) (103) (615)
Purchase of marketable securities (16,823) 0 0
Sales and maturities of marketable securities 2,000 0 0
Net cash used in investing activities (14,883) (103) (615)
Cash flows from financing activities:      
Proceeds from exercise of stock options, warrants and pre-funded warrants and issuance of shares of common stock under employee stock purchase plans 8,712 208 260
Issuance costs for amendments to loan and security agreement and for the sale of warrants accounted for as a liability (Note 10) (631) (4,802) 0
Employee taxes paid related to net share settlement of vested restricted stock units 0 (12) 0
Proceeds from borrowings under loan and security agreements 22,500 0 0
Repayments of borrowings under loan and security agreement (2,064) (795) 0
Proceeds from sale of shares of common stock, redeemable common stock, warrants and pre-funded warrants, net of issuance costs 59,999 122,631 75,985
Payments for Repurchase of Common Stock 0 0 (2,000)
Net cash provided by financing activities 88,516 117,230 74,245
Effect of exchange rate changes on cash, cash equivalents and restricted cash 99 (105) (319)
Net (decrease) increase in cash, cash equivalents and restricted cash (22,780) 39,920 2,406
Cash, cash equivalents and restricted cash at beginning of period 123,028 83,108 80,702
Cash, cash equivalents and restricted cash at end of period 100,248 123,028 83,108
Supplemental disclosure of cash flow information      
Cash paid for interest 4,604 3,006 2,906
Supplemental disclosure of non-cash investing and financing activities:      
Lease Obligation Incurred 0 0 1,343
Issuance costs not yet paid $ 0 $ 661 $ 24