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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (18,638) $ (12,711)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,401 3,251
Amortization of premiums (discounts) on marketable securities 76 (25)
Depreciation expense 196 48
Non cash interest expense 626 729
Reduction in operating lease right-of-use asset 125 113
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 1,048 218
Accounts payable (131) 435
Unbilled receivable (218) 0
Accrued expenses and other current liabilities (880) 239
Deferred revenue 0 (500)
Operating lease liability (126) (83)
Net cash used in operating activities (15,521) (8,286)
Cash flows from investing activities    
Sales and maturities of marketable securities 50,000 35,600
Purchases of marketable securities (4,477) (46,216)
Purchases of property and equipment (159) (607)
Deposits (146) (77)
Net cash provided by (used in) investing activities 45,218 (11,300)
Cash flows from financing activities    
Proceeds from exercise of stock options 0 513
Proceeds from issuance of common stock, net of issuance costs 0 28,119
Proceeds from Debt, Net of Issuance Costs 0 4,975
Debt issuance costs (17) 0
Repayment of financing lease (2) (1)
Net cash (used in) provided by financing activities (19) 33,606
Net increase in cash, cash equivalents and restricted cash 29,678 14,020
Cash, cash equivalents and restricted cash at the beginning of the period 15,752 10,686
Cash, cash equivalents and restricted cash at the end of the period 45,430 24,706
Supplemental disclosure of noncash investing and financing activities:    
Property and equipment purchases payable or accrued at period end 291 239
Right-of-use asset obtained in exchange for lease obligation 99 0
Change in unrealized gain on marketable securities (35) (2)
Cash paid for interest $ 1,468 $ 1,376