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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (84,095) $ (51,830)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 154 109
Accretion and amortization on investments, net 1,137 387
Amortization of debt issuance costs/debt discounts 627  
Gain on sale of marketable securities   (19)
Gain on sales of equity investment (1,233) (148)
Change in fair value of equity investment, including foreign currency translation   (187)
Stock-based compensation for services by non-employees 71 54
Stock-based compensation for employees and directors 5,775 5,043
Amortization of right-of-use assets 403 647
Changes in assets and liabilities:    
Current and noncurrent assets (3,363) (2,563)
Amount due to Janssen Biotech, Inc.   (14,269)
Current and noncurrent liabilities 7,136 8,738
Net cash used in operating activities (73,388) (54,038)
Cash flows from investing activities:    
Purchases of property and equipment (104) (390)
Purchases of marketable securities (116,482) (220,066)
Proceeds from sale of marketable securities   7,681
Proceeds from maturities of marketable securities 178,574 128,952
Proceeds from sales of equity investment 1,594 339
Net cash provided by (used in) investing activities 63,582 (83,484)
Cash flows from financing activities:    
Proceeds from issuances of common stock from equity plans 204 97
Proceeds from issuance of common stock and warrants in public offering, net of paid issuance costs   140,184
Proceeds from issuances of common stock from at market offerings, net of paid issuance costs 16,234 4,075
Proceeds from exercise of warrants 2,479 16
Proceeds from debt financing, net of paid debt issuance costs and debt discounts 10,000 24,555
Net cash provided by financing activities 28,917 168,927
Net increase in cash, cash equivalents and restricted cash 19,111 31,405
Cash, cash equivalents and restricted cash at the beginning of the period 10,288 13,914
Cash, cash equivalents and restricted cash at the end of the period $ 29,399 $ 45,319