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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (116,112) $ (75,617) $ (68,548)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 215 158 64
Accretion and amortization on investments, net 1,424 818 (1,534)
Amortization of debt issuance costs/debt discount 893 179  
Gain on sales of available for sale securities   (19)  
Net gain on exchange and sales of equity investment (1,233) (148)  
Change in fair value of equity investment, including foreign currency translation   (163) 196
Stock-based compensation for services by non-employees 91 85 68
Stock-based compensation for employees and directors 8,080 6,895 6,079
Amortization related to 401(k) contributions     9
Amortization of right-of-use assets 568 777 712
Changes in assets and liabilities:      
Interest and other receivables (1,041) 80 366
Prepaid and other current assets 1,317 (1,286) 121
Deposit and other assets (3,807) (206) (964)
Accounts payable (232) 5,731 199
Accrued compensation and benefits (119) 3,388 2,188
Amount due to Janssen Biotech, Inc.   (14,269) 11,659
Accrued liabilities 14,909 7,397 6,211
Operating lease liabilities (509) (452) (655)
Net cash used in operating activities (95,556) (66,652) (43,829)
Cash flows from investing activities:      
Purchases of property and equipment (207) (401) (413)
Purchases of marketable securities (177,434) (313,201) (153,467)
Proceeds from sales of securities available for sale   7,681  
Proceeds from maturities of marketable securities 247,994 200,262 181,280
Proceeds from sales of equity investment 1,594 339  
Net cash provided by (used in) investing activities 71,947 (105,320) 27,400
Cash flows from financing activities:      
Proceeds from issuances of common stock from equity plans 797 208 204
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 20,385 4,075 19,295
Proceeds from exercise of warrants 2,479 16  
Proceeds from debt financing, net of paid debt issuance costs and debt discounts 24,895 23,863  
Net cash provided by financing activities 48,556 168,346 19,499
Net increase (decrease) in cash, cash equivalents and restricted cash 24,947 (3,626) 3,070
Cash, cash equivalents and restricted cash at the beginning of the period 10,288 13,914 10,844
Cash, cash equivalents and restricted cash at the end of the period $ 35,235 $ 10,288 $ 13,914