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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net loss $ (55,350) $ (65,336) $ (65,321)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 726 975 750
Amortization of premiums (accretion of discounts) on investments (154) (101) 233
Amortization of right-of-use assets 1,301 0 0
Loss (gain) on disposal of property and equipment 104 (81) 36
Stock‑based compensation expense 5,161 5,714 4,081
Non‑cash interest expense 402 449 390
Warrant liabilities revaluation 857 0 0
Loss on extinguishment of debt 0 0 673
Net realized losses on investments (1) 0 0
Changes in operating assets and liabilities:      
Accounts receivable (5,000) 0 152
Prepaid expenses, deposits and other assets 3,179 (2,631) 1,225
Accounts payable (600) (516) (2,327)
Deferred revenue 337 (101) 2,432
Accrued expenses and other liabilities (2,397) 2,467 5,650
Net cash used in operating activities (51,435) (59,161) (52,026)
Cash flows from investing activities      
Receipts from the maturity of short-term investments 16,350 41,655 60,158
Purchases of short-term investments (18,188) (15,598) (61,527)
Sale of short term investments 1,992 0 0
Purchases of property and equipment (47) (884) (733)
Proceeds from the sale of property and equipment 122 99 4
Net cash provided by (used in) investing activities 229 25,272 (2,098)
Cash flows from financing activities      
Proceeds from issuance of long-term debt, net of expenses 0 0 20,957
Repayments of principal on outstanding debt (2,800) 0 (12,934)
Net proceeds from issuance of common stock 30,942 0 10,000
Proceeds from exercise of stock options 150 501 706
Proceeds from issuance of common stock under Employee Stock Purchase Plan 28 196 180
Net cash provided by financing activities 105,041 697 66,023
Effect of exchange rate changes on cash 34 (153) 78
Net change in cash, cash equivalents, and restricted cash 53,869 (33,345) 11,977
Cash, cash equivalents, and restricted cash at beginning of period 37,682 71,027 59,050
Cash, cash equivalents, and restricted cash at end of period 91,551 37,682 71,027
Supplement cash flow information      
Cash paid for interest 1,223 1,134 905
Noncash investing and financing activities      
Purchase of property and equipment not yet paid 0 145 103
Issuance costs in connection with common stock, common warrants, and pre-funded warrants in accrued liabilities 4,381 0 0
Unrealized gain on marketable securities 0 16 20
At-The-Market Offering      
Cash flows from financing activities      
Net proceeds from issuance of common stock 1,006 0 0
Private Placement      
Cash flows from financing activities      
Net proceeds from issuance of common stock 5,715 0 47,114
Note Warrant      
Cash flows from financing activities      
Net proceeds from issuance of common stock $ 70,000 $ 0 $ 0