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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (25,180) $ (61,511)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 221 483
Non-cash lease cost 476 218
Share-based compensation 4,027 4,520
Unrealized foreign currency transaction (gain) loss 0 7
Accretion of discount on marketable securities 0 13
Change in fair value of derivative liability 0 (802)
Non-cash interest expense associated with the sale of future royalties 0 2,605
Loss on extinguishment of liability related to the sale of future royalties 0 3,581
Changes in operating assets and liabilities:    
Other receivables (1,004) 1,054
Prepaid expenses and other current assets (5,192) 3,646
Other assets 0 905
Accounts payable 693 612
Accrued expenses and other current liabilities (3,372) (5,839)
Deferred revenue, current and non-current (1,526) (393)
Other long-term liabilities (24) (21)
Operating lease liability (536) (334)
Net cash used in operating activities (31,417) (51,256)
Cash flows from investing activities:    
Purchases of marketable securities 0 (26,970)
Proceeds from maturities of marketable securities 0 60,777
Other 0 129
Net cash provided by (used in) investing activities 0 33,936
Cash flows from financing activities:    
Repayment of liability related to the sale of future royalties 0 (54,485)
Proceeds from the issuance of common stock, net of issuance costs 0 4,203
Proceeds from stock option exercises 0 419
Net cash provided by financing activities 0 (49,863)
Net decrease in cash and cash equivalents: (31,417) (67,183)
Cash, cash equivalents and restricted cash at beginning of period 109,107 112,584
Cash, cash equivalents and restricted cash at end of period $ 77,690 $ 45,401