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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Consolidated net loss $ (11,295) $ (17,630)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 441 478
Stock-based compensation 1,125 1,358
Debt discount accretion and non-cash interest expense 324 556
Accretion of discount of available-for-sale investment securities 55 (245)
Amortization of right-of-use assets 579 536
Loss (gain) on disposal of property and equipment 10 (28)
Changes in operating assets and liabilities    
Other receivables (145) 101
Prepaid expenses and other assets (1,146) (92)
Accounts payable and accrued expenses 862 (159)
Contract liability (155) 352
Operating lease liability (555) (324)
Net cash used in operating activities (9,900) (15,097)
Cash flows from investing activities:    
Purchases of property and equipment (197) (38)
Purchases of available-for-sale investment securities (20,168) (34,668)
Maturities of available-for-sale investment securities 24,050 40,800
Proceeds from sale of property and equipment 12 51
Net cash provided by investing activities 3,697 6,145
Cash flows from financing activities:    
Proceeds from issuance of common stock through employee stock purchase plan 6 8
Proceeds from issuance of common stock through at the market offerings, net of offering costs 2,359 4,405
Proceeds from issuance of common stock through registered direct offering, net of offering costs   4,918
Proceeds from issuance of common stock through underwritten follow-on offering, net of offering costs 18,779  
Repayments on borrowings (6,000) (6,000)
Net cash provided by financing activities 15,144 3,331
Net change in cash and cash equivalents 8,941 (5,621)
Cash and cash equivalents at beginning of period 9,210 22,962
Cash and cash equivalents at the end of period $ 18,151 $ 17,341