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Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
9 Months Ended
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Cash flows from operating activities:    
Net loss $ (77,424) $ (63,834)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 7,598 6,524
Accretion of final payment fee on term loan 365  
Amortization of debt issuance costs 227 392
Amortization of premium on available-for-sale securities (183) 704
Non-cash operating lease expense 135  
Depreciation 50 58
Changes in operating assets and liabilities:    
Prepaid and other current assets 4,756 (4,119)
Other assets 72 4
Accounts payable 7,308 10,459
Accrued expenses 3,243 1,271
Operating lease liability (141)  
Net cash used in operating activities (53,994) (48,541)
Cash flows from investing activities:    
Proceeds from maturities of available-for-sale securities 87,260 107,627
Purchases of available-for-sale securities (110,137) (119,518)
Purchases of property and equipment (5) (36)
Net cash used in investing activities (22,882) (11,927)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants in public offering, net of issuance costs 88,239  
Proceeds from issuance of common stock in at-the-market public offering, net of issuance costs 8,370  
Proceeds from issuance of common stock upon exercise of stock options 237 446
Proceeds from issuance of common stock upon exercise of warrants 53  
Proceeds from issuance of common stock upon ESPP purchases 43 83
Payment of withholding taxes related to restricted stock units (122)  
Proceeds from term loan facility, net of issuance costs   1,451
Net cash provided by financing activities 96,820 1,980
Net change in cash and cash equivalents, and restricted cash 19,944 (58,488)
Cash and cash equivalents, and restricted cash at beginning of period 52,457 98,208
Cash and cash equivalents, and restricted cash at end of period 72,401 39,720
Components of cash and cash equivalents, and restricted cash:    
Cash and cash equivalents 72,401 39,695
Restricted cash   25
Total cash and cash equivalents, and restricted cash 72,401 39,720
Supplemental disclosures of cash information:    
Cash paid for interest 706 1
Cash paid for operating leases 187  
Supplemental disclosures of non-cash information:    
Remeasurement of lease liability and right of use asset in connection with lease modification $ 338  
Issuance of common stock warrant in connection with term loan facility   $ 574