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Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (91,585) $ (71,395)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 277 256
Stock-based compensation 11,660 8,055
Issuance of PIK interest debt 1,713  
Accrued interest on revenue interest financing liability 2,657  
Amortization of debt discount 1,049 698
Other 874 540
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (includes the change in related party amounts of $0, and $82, respectively) 1,402 2,203
Accounts payable and accrued expenses (includes the change in related party amounts of $(1,102), and $722, respectively) 2,865 (12,860)
Accrued clinical trial expenses (1,061) (5,759)
Accrued interest 88 (10)
Operating right-of-use asset and lease liabilities (293) 50
Other long-term assets (464) 93
Net cash used in operating activities (70,818) (78,129)
Cash flows from investing activities    
Cash paid for property, plant and equipment (495) (214)
Net cash used in investing activities (495) (214)
Cash flows from financing activities    
Proceeds from issuance of common stock from exercise of stock options   516
Net proceeds from revenue interest financing transaction 95,446  
Net cash provided by financing activities 95,446 516
Net increase (decrease) in cash and cash equivalents 24,133 (77,827)
Cash and cash equivalents – beginning of period 183,259 287,496
Cash and cash equivalents – end of period 207,392 209,669
Supplemental disclosure of cash flow information    
Interest paid 2,919 1,833
Supplemental disclosure of noncash investing and financing activities    
Property and equipment purchases included in accounts payable and accrued liabilities 16 3
Operating lease liabilities arising from obtaining right-of-use assets 554  
Settlement of ESPP liability in common stock 515 358
Settlement of 401(k) liability in common stock $ 254 $ 323