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Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (142,676) $ (108,057)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 452 386
Stock-based compensation 17,476 12,474
Issuance of PIK interest debt 2,594 130
Accrued interest on revenue interest financing liability 8,349  
Amortization of debt discount 1,613 3,088
Other 1,128 722
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (includes the change in related party amounts of $0, and $82, respectively) 2,292 3,177
Accounts payable and accrued expenses (includes the change in related party amounts of $(1,210), and $1,251, respectively) 4,762 (9,629)
Accrued clinical trial expenses (1,263) (9,506)
Accrued interest 209 (98)
Operating right-of-use asset and lease liabilities (306) 75
Other long-term assets (464) 43
Net cash used in operating activities (105,834) (107,195)
Cash flows from investing activities    
Cash paid for property, plant and equipment (629) (228)
Net cash used in investing activities (629) (228)
Cash flows from financing activities    
Proceeds from issuance of common stock from exercise of stock options   1,781
Repayment of long-term debt   (54,125)
Net proceeds from issuance of long-term debt   96,889
Net proceeds from revenue interest financing transaction 95,446  
Net cash provided by financing activities 120,042 44,545
Net increase (decrease) in cash and cash equivalents 13,579 (62,878)
Cash and cash equivalents – beginning of period 183,259 287,496
Cash and cash equivalents – end of period 196,838 224,618
Supplemental disclosure of cash flow information    
Interest paid 4,938 2,920
Supplemental disclosure of noncash investing and financing activities    
Issuance of common stock warrants in connection with long-term debt   1,290
Property and equipment purchases included in accounts payable and accrued liabilities 4 9
Final interest payment fee   7,500
Operating lease liabilities arising from obtaining right-of-use assets 554  
Settlement of ESPP liability in common stock 909 819
Settlement of 401(k) liability in common stock 1,116 $ 903
At-the-Market Offering Program    
Cash flows from financing activities    
Net proceeds from issuance of common stock $ 24,596