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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net loss $ (56,572) $ (43,697)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 16,866 11,927
Depreciation and amortization 2,086 1,130
Bad debt expense 14 234
Accretion of discount on marketable securities 1,294 115
Realized gain on marketable securities 0 (46)
Amortization of debt issuance costs 288 292
Loss on extinguishment of debt 1,848 1,534
Loss on sale and disposal of property and equipment 399 376
Changes in operating assets and liabilities    
Accounts receivable (569) (2,186)
Inventory (5,784) (274)
Prepaid expenses and other assets (594) (136)
Accounts payable (532) 835
Accrued liabilities and other 1,723 (766)
Net cash used in operating activities (39,533) (30,662)
Cash flows from investing activities    
Maturities of marketable securities 159,990 104,716
Sales of marketable securities 0 14,095
Purchases of marketable securities (102,021) (179,166)
Purchases of property and equipment (6,389) (2,561)
Net cash (used in) provided by investing activities 51,580 (62,916)
Cash flows from financing activities    
Proceeds from follow-on public offering, net of underwriting discounts, commissions and offering costs 0 134,616
Proceeds from debt financing 35,000 45,297
Repayments of debt financing (41,000) (45,297)
Payments of debt issuance costs (111) (750)
Payments of prepayment penalty and lender fees (508) (843)
Proceeds from the exercise of common stock options 2,565 1,463
Proceeds from issuance of common stock under employee stock purchase plan 2,343 1,915
Net cash (used in) provided by financing activities (1,711) 136,401
Effect of exchange rate changes on cash and cash equivalents (498) 323
Net increase in cash and cash equivalents 9,838 43,146
Cash and cash equivalents at    
Beginning of year 53,581 10,435
End of year 63,419 53,581
Supplemental disclosure of cash flow information    
Cash paid for interest 3,230 4,276
Supplemental disclosure of non-cash information    
Vesting of early exercised stock options 27 71
Unpaid purchases of property and equipment $ 509 $ 26