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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (32,829) $ (19,423)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 189 159  
Non-cash lease cost 221 199  
Share-based compensation 3,203 2,009  
Unrealized foreign currency transaction (gain) loss (11) (19)  
Change in fair value of derivative liability 193 $ (800)
Accretion of discount on marketable securities 23 64  
Non-cash interest expense associated with the sale of future royalties 2,488  
Changes in operating assets and liabilities:      
Other receivables 660 (3,218)  
Prepaid expenses and other current assets 31 869  
Tax incentive receivables 1 772  
Other assets (285)  
Accounts payable 3,679 2,689  
Accrued expenses and other current liabilities (5,290) 624  
Deferred revenue, current and non-current (246)  
Other long-term liabilities (10) (9)  
Operating lease liability (240) (195)  
Net cash used in operating activities (28,223) (15,479)  
Cash flows from investing activities:      
Purchases of marketable securities (26,970) (2,997)  
Proceeds from maturities of marketable securities 10,906 6,000  
Net cash provided by (used in) investing activities (16,064) 3,003  
Cash flows from financing activities:      
Proceeds from Issuance of Common Stock 3,626 4,253  
Payment of offering and financing costs (37)  
Proceeds from stock option exercises 188 93  
Net cash provided by financing activities 3,814 4,309  
Net increase (decrease) in cash and cash equivalents (40,473) (8,167)  
Cash, cash equivalents and restricted cash at beginning of period 112,584 85,209 85,209
Cash, cash equivalents and restricted cash at end of period 72,111 77,042 $ 112,584
Supplemental disclosure of non-cash activities:      
Offering and financing costs in accounts payable and accruals $ 0 $ 93