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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES          
Net loss $ (7,493) $ (6,744) $ (15,893) $ (20,428)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation for property, plant and equipment     105 307  
Amortization of intangible assets     662 674  
Reduction in the carrying amount of the right-of-use assets     643 687  
Loss / (gain) on disposal of property, plant and equipment       65  
Stock-based compensation expense     3,831 3,038  
Acquired in-process research and development       6,555  
Change in fair value of investments 1,153 (1,914) 2,708 (3,482)  
Impairment loss of long-term investments   865   865  
Changes in operating assets and liabilities:          
Accounts receivable     (457) (1,122)  
Inventories     (3,884) (2,119)  
Prepaid expenses and other assets     257 352  
Accounts payable     236 884  
Accrued and other current liabilities and other liabilities     (1,895) (1,592)  
Deferred income     (34) (25)  
Net cash used in operating activities     (13,721) (15,341)  
CASH FLOWS FROM INVESTING ACTIVITIES          
Proceeds from disposal of property and equipment     138    
Purchases of property, plant and equipment     (1,719) (1,208)  
Cash paid to acquire in-process research and development       (6,250)  
Net cash used in investing activities     (3,249) (13,044)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Proceeds from bank borrowings     1,001 709  
Repurchase of common stock     (3,000)    
Stock issuance costs       (2,019)  
Proceeds from sale of common stock       32,500  
Net cash (used in) provided by financing activities     (1,999) 31,190  
Effect of exchange rate change on cash and cash equivalents     (873) 488  
Net (decrease)/ increase in cash and cash equivalents     (19,842) 3,293  
Cash and cash equivalents at beginning of period     38,704 57,064 $ 57,064
Cash and cash equivalents at end of period $ 18,862 $ 60,357 18,862 60,357 $ 38,704
Non-cash investing and financing activities:          
Purchases of property, plant and equipment in accrued and other current liabilities     469    
Accrual for acquisition of in-process research and development       305  
Black Belt Tx Limited          
CASH FLOWS FROM INVESTING ACTIVITIES          
Cash paid to acquire convertible loan       (86)  
Cleave Therapeutics, Inc          
CASH FLOWS FROM INVESTING ACTIVITIES          
Cash paid to acquire convertible loan       $ (5,500)  
BioInvent International AB          
CASH FLOWS FROM INVESTING ACTIVITIES          
Proceed from sale of equity securities     1,294    
Precision Autoimmune Therapeutics Co., Ltd          
CASH FLOWS FROM INVESTING ACTIVITIES          
Cash paid to acquire equity securities     $ (2,962)