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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (37,588) $ (20,647)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,269 3,591
Depreciation and amortization 816 84
Noncash interest expense 126 14
Net amortization of premiums and discounts on short-term investments 409 (730)
Changes in operating assets and liabilities:    
Research and development incentives receivable (1,438) (1,241)
Prepaid expenses and other current assets (1,932) (2,128)
Operating lease, right-of-use-asset 238 250
Finance lease, right-of-use-asset 1,188 60
Long term prepaid rent   (12,433)
Accounts payable (1,198) (900)
Accrued expenses and other current liabilities 2,023 669
Operating lease liabilities (182) (144)
Net cash used in operating activities (32,269) (33,555)
Cash flows from investing activities:    
Purchases of property, plant and equipment (1,007) (1,146)
Purchase of short-term investments (196,535) (30,628)
Proceed from sales and maturities of short-term investments 103,618 83,909
Net cash provided by (used in) investing activities (93,924) 52,135
Cash flows from financing activities:    
Proceeds from long-term debt, net of debt issuance costs (100) 9,645
Proceeds from issuance of common stock in follow-on public offering, net of issuance costs 74,883  
Proceeds from issuance of prefunded warrants to purchase common stock, net of issuance costs 32,900  
Principal payment of finance lease obligation (42)  
Exercise of stock options 1,838 123
Net cash provided by financing activities 109,479 9,768
Effect of exchange rate changes on cash, cash equivalents and restricted cash 540 (304)
Net increase in cash, cash equivalents and restricted cash (16,174) 28,044
Cash, cash equivalents and restricted cash at beginning of period 61,136 26,890
Cash, cash equivalents and restricted cash at end of period 44,962 54,934
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 445  
Supplemental disclosure of non-cash investing and financing activities:    
Net unrealized gain (loss) on short-term investments 244 (25)
Purchases of property and equipment included in accounts payable 79 1,825
Lease assets obtained in exchange for new financing lease liabilities   7,165
Lease assets obtained in exchange for new operating lease liabilities $ 1,580 $ 5,152