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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net loss $ (36,206) $ (22,830)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 1,850 1,623
Right-of-use asset (accretion) amortization 70 103
Stock-based compensation 3,895 3,916
Other non-cash transactions 26 (293)
Changes in operating assets and liabilities 33,789 (14,792)
Net cash provided by (used in) operating activities 3,284 (32,479)
Investing activities:    
Purchases of property and equipment (607) (2,148)
Proceeds from maturity of investments 0 67,687
Purchases of investments 0 (41,178)
Net cash (used in) provided by investing activities (607) 24,361
Financing activities:    
Proceeds from exercise of stock options 858 271
Proceeds from exercise of warrants 837 0
Proceeds from employee stock purchase plan 96 145
Proceeds from issuance of common stock from private placement, net of issuance costs 18,913 0
Proceeds from issuance of common stock resulting from ATM sales, net of $1.2M in transaction costs and $1.8M in proceeds receivable 33,522 9,624
Net cash provided by financing activities 54,226 10,040
Effect of exchange rate change on cash and cash equivalents (2,287) 2,708
Net increase in cash and cash equivalents 54,616 4,630
Cash and cash equivalents at beginning of period 70,436 62,260
Cash and cash equivalents at end of period 125,052 66,890
Supplemental cash flow disclosures:    
Net unrealized loss on investments 0 (319)
Property and equipment included in accounts payable $ 0 $ 370