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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (48,235) $ (115,178)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property and equipment 48 105
Amortization of debt issuance costs 100 0
Amortization of discount/premium on investments 74 402
Share-based compensation 7,301 5,696
Fair value of common stock issued related to asset acquisition 0 43,445
Note payable related to asset acquisition 0 14,000
Gain on sale of investments (1) (2)
Lease-related amortization 46 292
Changes in operating assets and liabilities:    
Accounts receivable 0 304
Inventories (1,365) 0
Prepaid expenses and other assets 917 (1,832)
Accounts payable, accrued liabilities and deferred revenue 7,108 2,149
Net cash used in operating activities (34,007) (50,619)
Cash flows from investing activities:    
Purchases of property and equipment 0 (188)
Purchases of short-term investments (5,258) (100,860)
Purchases of long-term investments 0 (7,554)
Proceeds from sales of short-term investments 7,699 2,007
Proceeds from maturities of short-term investments 57,726 23,850
Net cash provided by (used in) investing activities 60,167 (82,745)
Cash flows from financing activities:    
Proceeds from exercise of stock options 102 3,648
Proceeds from employee stock purchase plan 556 330
Proceeds from issuance of common stock, net of commissions 0 107,842
Payments of debt issuance costs (129) 0
Payment of note payable related to asset acquisition (14,000) 0
Net cash (used in) provided by financing activities (13,471) 111,820
Net increase (decrease) in cash and cash equivalents 12,689 (21,544)
Cash and cash equivalents:    
Beginning of period 15,397 46,989
End of period $ 28,086 $ 25,445