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STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (49,719) $ (24,163)
Adjustments to reconcile net loss:    
Depreciation and amortization 587 342
Accretion of investment discount (66) (846)
Accretion of debt discount 166 214
Non-cash lease expense 743 665
Stock-based compensation expense 8,963 4,304
Non-cash stock issuance for services rendered 217 174
Other, net (89) (143)
Changes in operating assets and liabilities:    
Accounts receivable (7,921) (4,378)
Inventories (3,132) (2,008)
Prepaid expenses and other current assets (15) (1,908)
Accounts payable 2,262 1,444
Accrued expenses and other liabilities (931) (467)
Net cash used in operating activities (48,935) (26,770)
Investing activities    
Purchases of property and equipment (1,851) (2,297)
Purchases of investments (52,721) (143,524)
Proceeds from sales or maturities of investments 129,803 122,254
Net cash provided by (used in) investing activities 75,231 (23,567)
Financing activities    
Payment of debt fees 0 (531)
Proceeds from the exercise of stock options 3,831 961
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 129,544 1,067
Effect of exchange rate on cash 5 26
Increase (decrease) in cash and cash equivalents 155,845 (49,244)
Cash and cash equivalents at beginning of period 22,860 97,288
Cash and cash equivalents at end of period 178,705 48,044
Supplemental cash flow information    
Cash paid for interest $ 1,422 $ 1,562