XML 28 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ (63,586) $ (78,485) $ 59,337
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization expense 1,368 1,569 1,670
Stock-based compensation expense 7,223 8,546 7,765
Non-cash interest expense related to note payable 570 1,069 1,650
Net amortization of premiums and discounts on marketable securities 143 807 (47)
Loss on disposal of property and equipment 0 0 1
Non-cash operating lease cost 2,318 2,041 1,950
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (1,120) 1,653 (32)
Unbilled receivable 0 518 (2,571)
Other assets 383 74 (431)
Accounts payable (1,301) (226) (2,716)
Accrued expenses and other current liabilities (2,954) 2,307 2,436
Operating lease liability (2,596) (2,217) (423)
Deferred revenue - related party 0 0 (38,592)
Net cash provided by (used in) operating activities (59,552) (62,344) 29,997
Cash flows from investing activities:      
Purchases of property and equipment (497) (120) (43)
Purchases of marketable securities (40,191) (111,632) (650)
Proceeds from sales or maturities of marketable securities 63,445 12,500 59,000
Net cash provided by (used in) investing activities 22,757 (99,252) 58,307
Cash flows from financing activities:      
Proceeds from issuance of convertible note payable, net of issuance costs 0 10,687 10,000
Proceeds for issuance of common stock, net 31,376 29,525 29,086
Proceeds from employee stock purchases 273 266 194
Proceeds from exercise of stock options 11 2,022 802
Net cash provided by financing activities 31,660 42,500 40,082
Net increase (decrease) in cash and cash equivalents and restricted cash (5,135) (119,096) 128,386
Cash and cash equivalents and restricted cash at beginning of period 57,640 176,736 48,350
Cash and cash equivalents and restricted cash at end of period 52,505 57,640 176,736
Supplemental disclosure of cash flow information:      
Cash paid for interest 2,476 1,406 1,052
Supplemental disclosure of non-cash investing and financing activities:      
Purchases of property and equipment included in accounts payable and    accrued expenses 86 436 1,006
Additional right-of-use asset and related lease liability 755 0 15,003
Conversion of note payable into shares of common stock $ 0 $ 1,500 $ 2,000