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Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (108,057) $ (75,347)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 386 217
Stock-based compensation 12,474 3,461
Issuance of PIK interest debt 130  
Amortization of debt discount 3,088 904
Change in fair value of warrant liabilities   (95)
Other 722 158
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (includes the change in related party amounts of $82, and $0, respectively) 3,177 11,034
Accounts payable and accrued expenses (includes the change in related party amounts of $1,251 and $238, respectively) (9,629) 7,661
Accrued clinical trial expenses (9,506) 10,845
Accrued interest (98) 146
Operating right-of-use asset and lease liabilities 75 (272)
Other long-term assets 43 (200)
Net cash used in operating activities (107,195) (41,488)
Cash flows from investing activities    
Cash paid for property, plant and equipment (228) (916)
Net cash used in investing activities (228) (916)
Cash flows from financing activities    
Proceeds from issuance of common stock from exercise of stock options 1,781  
Repayment of long-term debt (54,125)  
Net proceeds from issuance of long-term debt 96,889 25,000
Net cash provided by financing activities 44,545 25,000
Net (decrease) in cash and cash equivalents (62,878) (17,404)
Cash and cash equivalents – beginning of period 287,496 243,765
Cash and cash equivalents – end of period 224,618 226,361
Supplemental disclosure of cash flow information    
Interest paid 2,920 2,235
Supplemental disclosure of noncash investing and financing activities    
Issuance of common stock warrants in connection with long-term debt 1,290  
Property and equipment purchases included in accounts payable and accrued liabilities 9 39
Final interest payment fee 7,500 2,063
Settlement of ESPP liability in common stock 819  
Settlement of 401(k) liability in common stock $ 903  
Operating lease liabilities arising from obtaining right-of-use assets   1,396
Conversion of Lender Warrants into equity   $ 318