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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 15 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Cash flows from operating activities      
Net loss $ (16,103) $ (14,010)  
Adjustments to reconcile net loss to net cash used in operating activities      
Amortization of investment premiums, net 670 1,138  
Amortization of financing costs 12 21  
Stock-based compensation 2,357 1,577  
Amortization of right-of-use assets 77 72  
Interest expense related to operating lease liability 4 5  
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets 23 (266)  
Accrued interest, net of interest received on maturity of investments 105 (166)  
Accounts payable 1,707 860  
Other accrued liabilities 694 (22)  
Lease liability (76) (85)  
Net cash used in operating activities (10,530) (10,876)  
Cash flows from investing activities      
Purchases of investments (30,682) (48,676)  
Proceeds from maturities of investments 32,301 42,049  
Net cash provided by (used in) investing activities 1,619 (6,627)  
Cash flows from financing activities      
Value of shares withheld related to employee tax withholding (499) (473)  
Repurchase of common stock (5,121)    
Proceeds from warrant and option exercises and stock issuances under employee stock purchase plan 614 5,664  
Net cash provided by (used in) financing activities (5,006) 5,191  
Net decrease in cash and cash equivalents (13,917) (12,312)  
Cash and cash equivalents beginning of period 26,371 29,117 $ 29,117
Cash and cash equivalents end of period 12,454 16,805 $ 12,454
Supplemental disclosure of non-cash investing and financing transactions      
Unpaid deferred public offering and other financing costs 50 50  
Receivable from exercise of warrants   $ 173  
Right-of-use asset obtained in exchange for lease obligation $ 1,664