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Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended 66 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Jun. 30, 2023
Cash flows from operating activities        
Net loss $ (78,779) $ (91,585)    
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 269 277    
Stock-based compensation 14,301 11,660    
Issuance of PIK interest debt 1,772 1,713    
Accrued interest on revenue interest financing liability 10,550 2,657    
Amortization of debt discount 769 1,049    
Other 1,157 874    
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets (3,633) 1,402    
Accounts payable and accrued expenses (includes changes in related party amounts of $264 and $1,102, respectively) (8,447) 2,865    
Accrued clinical trial expenses   (1,061)    
Accrued interest 73 88    
Operating right-of-use assets and lease liabilities 99 (293)    
Other long-term assets   (119)    
Net cash used in operating activities (61,869) (70,473)    
Cash flows from investing activities        
Cash paid for property, plant and equipment (220) (495)    
Net cash used in investing activities (220) (495)    
Cash flows from financing activities        
Proceeds from issuance of common stock from exercise of stock options 111      
Net proceeds from underwritten public offering 141,390      
Net proceeds from revenue interest financing transaction   95,446 $ 95,400  
Net cash provided by financing activities 155,574 95,446    
Net increase in cash and cash equivalents and restricted cash 93,485 24,478    
Cash and cash equivalents and restricted cash - beginning of period 155,890 183,419 183,419  
Cash and cash equivalents and restricted cash - end of period 249,375 207,897 $ 155,890 $ 249,375
Supplemental disclosure of cash flow information        
Interest paid 5,310 2,920    
Supplemental disclosure of noncash investing and financing activities        
Inventory purchases included in accounts payable and accrued expenses 3,561      
Property and equipment purchases included in accounts payable and accrued expenses   16    
Settlement of ESPP liability in common stock 856 515    
Settlement of 401(k) liability in common stock 456 254    
Operating lease liabilities arising from obtaining right-of-use assets   $ 554    
At-the-Market Offering Program        
Cash flows from financing activities        
Net proceeds from issuance of common stock $ 14,073     $ 38,700