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STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss $ (39,334) $ (15,916)
Adjustments to reconcile net loss:    
Depreciation and amortization 375 209
Accretion of investment discount (88) (609)
Accretion of debt discount 110 161
Non-cash lease expense 491 433
Stock-based compensation expense 5,652 2,780
Non-cash stock issuance for services rendered 145 116
Other, net (98) (141)
Changes in operating assets and liabilities:    
Accounts receivable 2,905 (2,801)
Inventories (4,131) (894)
Prepaid expenses and other current assets (2,233) (4,284)
Accounts payable 639 (745)
Accrued expenses and other liabilities (4,459) (2,135)
Net cash used in operating activities (40,026) (23,826)
Investing activities    
Purchases of property and equipment (636) (1,233)
Purchases of investments (14,907) (101,037)
Proceeds from sales or maturities of investments 116,703 79,204
Net cash provided by (used in) investing activities 101,160 (23,066)
Financing activities    
Payment of debt fees 0 (531)
Proceeds from the exercise of stock options 1,519 769
Proceeds from the sale of common stock 124,654 0
Proceeds from issuance of common stock from employee stock purchase plan 1,059 637
Net cash provided by financing activities 127,232 875
Effect of exchange rate on cash 11 (3)
Increase (decrease) in cash and cash equivalents 188,377 (46,020)
Cash and cash equivalents at beginning of period 22,860 97,288
Cash and cash equivalents at end of period 211,237 51,268
Supplemental cash flow information    
Cash paid for interest $ 947 $ 1,087