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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net loss $ (43,697) $ (38,403)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 11,927 7,464
Depreciation and amortization 1,130 774
Bad debt expense 234 0
Accretion of discount on marketable securities 115 (1,413)
Realized gain on marketable securities (46) 0
Amortization of debt issuance costs 292 259
Loss on extinguishment of debt 1,534 0
Loss on sale and disposal of property and equipment 376 171
Changes in operating assets and liabilities    
Accounts receivable (2,186) (3,236)
Inventory (274) (2,105)
Prepaid expenses and other assets (136) (515)
Accounts payable 835 383
Accrued liabilities and other (766) 4,994
Net cash used in operating activities (30,662) (31,627)
Cash flows from investing activities    
Maturities of marketable securities 104,716 159,800
Sales of marketable securities 14,095 0
Purchases of marketable securities (179,166) (143,864)
Purchases of property and equipment (2,561) (2,445)
Net cash (used in) provided by investing activities (62,916) 13,491
Cash flows from financing activities    
Proceeds from follow-on public offering, net of underwriting discounts, commissions and offering costs 134,616 0
Proceeds from debt financing 45,297 0
Principal repayments of debt financing (45,297) 0
Payments of debt issuance costs (750) 0
Payments of prepayment penalty and lender fees (843) 0
Proceeds from the exercise of common stock options 1,463 1,490
Proceeds from issuance of common stock under employee stock purchase plan 1,915 2,203
Repurchase of unvested early exercised stock options 0 (38)
Payments of initial public offering costs 0 (167)
Net cash provided by financing activities 136,401 3,488
Effect of exchange rate changes on cash and cash equivalents 323 (37)
Net increase (decrease) in cash and cash equivalents 43,146 (14,685)
Cash and cash equivalents at    
Beginning of year 10,435 25,120
End of year 53,581 10,435
Supplemental disclosure of cash flow information    
Cash paid for interest 4,276 4,949
Supplemental disclosure of non-cash information    
Vesting of early exercised stock options 71 197
Unpaid purchases of property and equipment $ 26 $ 375