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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (46,759) $ (25,048)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 781 753
Purchase net premium on marketable securities 239 (405)
Net amortization of premium (accretion of discount) on marketable securities (23) 341
Stock-based compensation 4,118 3,837
Non-cash operating lease expense 191 219
Other (7) 4
Changes in operating assets and liabilities:    
License and development receivables 336 0
Prepaid expenses and other assets (2,419) (2,876)
Accounts payable (1,352) (55)
Operating lease liabilities (250) (155)
Deferred revenue (914) 7,804
Accrued and other liabilities (877) (1,867)
Net cash used in operating activities (46,936) (17,448)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (37) (480)
Purchases of marketable securities (27,750) (93,579)
Proceeds from maturities and sales of marketable securities 54,296 56,000
Net cash provided by (used in) investing activities 26,509 (38,059)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock and pre-funded warrants in registered direct offering, net of offering costs 42,979 0
Proceeds from employee stock plan purchases and stock option exercises 184 403
Principal payments on finance lease obligation (347) (233)
Net cash provided by financing activities 42,816 170
Effect of exchange rate on cash, cash equivalents, and restricted cash (95) 11
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 22,294 (55,326)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH    
Beginning of period 16,980 91,937
End of period 39,274 36,611
Supplemental Disclosure of Non-Cash Investing and Financing Information:    
Leased assets obtained in exchange for lease obligations 0 872
Unpaid amounts related to purchase of property and equipment $ 0 $ 23