XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Cash flows from operating activities:          
Net loss $ (17,583,000) $ (8,085,000) $ (49,706,000) $ (18,359,000)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     3,010,000 1,846,000  
Accretion of premium on investments     55,000 0  
Stock-based compensation     5,954,000 3,871,000  
Non-cash interest expense related to sale of future royalties 337,000 464,000 1,137,000 1,401,000  
Non-cash revenue related to sale of future royalties     (908,000) (3,027,000)  
Change in operating assets and liabilities:          
Accounts receivable     144,000 3,369,000  
Prepaid expenses and other assets     (3,570,000) (1,384,000)  
Accounts payable     1,483,000 810,000  
Other accrued liabilities     (1,617,000) (1,511,000)  
Net cash used in operating activities     (44,018,000) (12,984,000)  
Cash flows from investing activities:          
Purchase of property and equipment     (4,142,000) (321,000)  
Proceeds from sale of equipment     0 3,000  
Purchases of investments     (41,278,000) 0  
Proceeds from maturities of investments     4,500,000 0  
Net cash used in investing activities     (40,920,000) (318,000)  
Cash flows from financing activities:          
Proceeds from issuance of common stock upon exercise of common stock warrants     1,849,000 25,951,000  
Proceeds from issuance of common stock upon exercise of stock options     1,240,000 402,000  
Disgorgement of short-swing profits, net of costs     0 652,000  
Net cash provided by financing activities     125,299,000 133,214,000  
Net increase in cash and cash equivalents     40,361,000 119,912,000  
Cash and cash equivalents at beginning of the period     126,870,000 13,526,000 $ 133,438,000
Cash and cash equivalents at end of the period $ 167,231,000 $ 133,438,000 167,231,000 133,438,000 $ 167,231,000
Supplemental disclosure of non-cash financing activity:          
Issuance of warrants to placement agent’s representatives     0 453,000  
Operating lease liabilities arising from obtaining right-of-use assets     6,939,000 1,022,000  
Lease-related assets and liabilities derecognized on early termination and modification of leases     235,000 0  
Acquisition of property and equipment included in accounts payable and accrued expenses     289,000 213,000  
Registered Direct Offering [Member]          
Cash flows from financing activities:          
Net proceeds from issuance of common stock     0 9,175,000  
ATM Program [Member]          
Cash flows from financing activities:          
Net proceeds from issuance of common stock     $ 122,210,000 $ 97,034,000