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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (86,908) $ (90,865) $ (51,015)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 797 923 1,324
Stock-based compensation expense 15,039 14,060 11,207
Revaluation of contingent consideration 4,700 24,339 2,393
Loss on extinguishment of debt   752  
Deferred taxes     (182)
Changes in operating assets and liabilities:      
Accounts receivable 139 149 4,898
Prepaid expenses and other assets (2,294) (5,617) 1,689
Accounts payable 368 3,655 (5,219)
Accrued expenses 592 470 (3,728)
Net cash used in operating activities (67,567) (52,134) (38,633)
Cash flows from investing activities:      
Purchases of property and equipment (605) (308) (453)
Purchases of marketable securities (164,753) (235,153) (47,714)
Proceeds from sales and maturities of marketable securities 177,986 67,829 54,554
Net cash provided by (used in) investing activities 12,628 (167,632) 6,387
Cash flows from financing activities:      
Proceeds from debt financing (including warrants), net of issuance costs     10,913
Repayment of debt   (11,483)  
Payments of employee withholding taxes related to restricted stock unit award vesting (34) (3,124)  
Finance lease payments     (137)
Deferred issuance costs     (211)
Proceeds from exercise of employee stock options and the issuance of stock 157 1,459 70
Net cash provided by financing activities 72,867 225,052 18,372
Net increase (decrease) in cash and cash equivalents 17,928 5,286 (13,874)
Cash and cash equivalents at beginning of period 27,349 22,063 35,937
Cash and cash equivalents at end of period 45,277 27,349 22,063
Supplemental disclosure of non-cash investing and financing activities:      
Additions to property and equipment included in accounts payable 24 143  
Fair value of warrants issued in connection with debt financing     378
Fair value of common stock issued in connection with an equity purchase agreement     263
Equity Purchase Agreement      
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs     $ 7,737
Public Offering      
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs   $ 238,200  
At The Market Offering      
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs $ 72,744