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Consolidated Statements of Cash Flows (Unaudited)
3 Months Ended 6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Cash flows from operating activities:      
Net loss $ (24,587,000) $ (48,063,000) $ (39,025,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   216,000 79,000
Stock-based compensation   5,604,000 5,637,000
Amortization of debt issuance costs   179,000 29,000
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable   (20,000) 236,000
(Increase) decrease in prepaid expenses and other current assets   (732,000) 451,000
Decrease in other assets   420,000 261,000
Decrease in accounts payable and other liabilities   (5,447,000) (14,707,000)
Net cash provided by (used in) operating activities   (47,843,000) (47,039,000)
Cash and cash equivalents 21,450,000 21,450,000 89,887,000
Cash paid for interest   634,000 307,000
Initial recognition of right of use asset 0 0 1,704,000
Issuance of Stock and Warrants for Services or Claims   698  
Adjustments to Additional Paid in Capital, Warrant Issued   700,000 0
Stock Issued During Period, Value, Treasury Stock Reissued   6,321 0
Business Exit Costs   1,500 0
Issuance of common stock under Equity Incentive Plans, value 0    
Cash flows from investing activities:      
Purchases of property and equipment   (76,000) (985,000)
Purchases of investments   (40,171,000) (24,373,000)
Maturities of investments   22,191,000 21,772,000
Net cash (used in) provided by investing activities   (18,056,000) (3,586,000)
Cash flows from financing activities:      
Proceeds from issuance of common stock   0 16,924,000
Repurchase of common stock   (864,000) (2,675,000)
Proceeds from debt borrowings, net of fees   24,148,000 0
Net cash used in financing activities   23,284,000 14,249,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect   (42,615,000) (36,376,000)
Cash and cash equivalents at beginning of period   64,065,000 126,263,000
Cash and cash equivalents at end of period 21,450,000 21,450,000 89,887,000
Supplemental disclosure of cash flow information:      
Cash paid for interest   634,000 307,000
Initial recognition of right of use asset 0 $ 0 $ 1,704,000
Issuance of common stock under Equity Incentive Plans, value $ 0