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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
9 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Cash flows from operating activities:    
Net income (loss) $ (48,620) $ (47,884)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,434 2,207
Amortization of investment discount 0 94
Equity-based compensation 4,023 8,179
Loss on disposal of property and equipment 134 74
Unrealized (gain) loss on equity investments (61) 206
Gain on fair value adjustments (13,026) 0
Inventory write-down 1,184 0
(Increase) decrease in assets:    
Contributions to deferred compensation plan 0 (174)
Accounts receivable (250) (73)
Inventory 298 (245)
Prepaid expense and other 956 (491)
Increase (decrease) in liabilities:    
Accounts payable 218 1,221
Accrued liabilities and other 67 1,153
Deferred revenue and income 1,139 73
Deferred compensation 194 (49)
Net cash used in operating activities (32,441) (39,178)
Cash flows from investing activities:    
Purchases of equipment (925) (446)
Purchase of marketable securities 0 (27,506)
Maturities of marketable securities 9,695 34,527
Net cash provided by investing activities 8,770 6,575
Cash flows from financing activities:    
Payments on finance leases (1,357) (1,109)
Proceeds from exercise of options 0 7
Proceeds from issuance of common stock under employee purchase plan 0 184
Proceeds from issuance of 5.00% Notes 10,000 0
Transaction costs related to debt and equity issuances (3,731) (192)
Payment of debt 0 (6)
Net cash provided by financing activities 8,912 31,756
Effect of exchange rate on cash 16 (64)
Decrease in cash and cash equivalents (14,743) (911)
Cash and cash equivalents, beginning of period 34,905 39,898
Cash and cash equivalents, end of period 20,162 38,987
Non-cash investing activities:    
Net transfer of instruments from inventory to property and equipment 343 (78)
Non-cash financing activities:    
Capital contribution from the exchange of secured note and accrued interest through the issuance of common stock with related party 25,363 29,847
Exchange of 2.50% Notes and accrued interest for 5.00% Notes 56,893 0
Debt premium on issuance of 5.00% Notes 6,023 0
Derivative liability 38,160 0
2.50% Notes extinguished in connection with exchange transaction 0 49,624
Fair value of new note issued in connection with the exchange transaction 0 16,024
Fair value of common stock warrant issued in connection with the exchange transaction 0 3,753
Extinguishment of derivative liability in connection with extinguishment of 5.00% Notes 380 0
Issuance of common stock in connection with extinguishment of 5.00% Notes 658 0
Supplemental cash flow information:    
Interest paid 0 2,214
Convertible Notes    
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and issuance costs 2,060 386
2.50% Convertible Notes Due 2023 | Convertible Notes    
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and issuance costs 182 386
Non-cash financing activities:    
Extinguishment of Convertible Senior Notes through issuance of common stock $ 0 10,180
Interest rate 2.50%  
5.00% Convertible Notes Due 2026 | Convertible Notes    
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and issuance costs $ 1,878 0
Non-cash financing activities:    
Extinguishment of Convertible Senior Notes through issuance of common stock $ 330 0
Interest rate 5.00%  
Nonrelated Party    
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and issuance costs $ 2,060 386
Loss (gain) on extinguishment of debt 6,499 (3,565)
Increase (decrease) in liabilities:    
Accrued interest 1,738 (785)
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 32,872
Related Party    
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and issuance costs 1,033 275
Loss (gain) on extinguishment of debt 6,755 0
Increase (decrease) in liabilities:    
Accrued interest 784 220
Cash flows from financing activities:    
Proceeds from issuance of common stock $ 4,000 $ 0