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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (8,063,000) $ (3,986,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 597,000 567,000
Depreciation and amortization 16,000 15,000
Accretion on marketable securities 323,000 19,000
Changes in operating assets and liabilities:    
Prepaid and other current assets (1,763,000) 354,000
Other assets 81,000 233,000
Accounts payable, accrued liabilities and other liabilities 834,000 (1,443,000)
Net cash used in operating activities (7,975,000) (4,241,000)
Cash flows from investing activities:    
Purchase of marketable securities (75,911,000) 0
Sale of marketable securities 10,821,000 11,104,000
Purchases of property and equipment 0 (2,000)
Net cash (used in) provided by investing activities (65,090,000) 11,102,000
Cash flows from financing activities:    
Proceeds from exercise of options 24,000 0
Tax withholding payments on net share settlement equity awards (184,000) (148,000)
Net proceeds from issuance of common stock 85,457,000 0
Net cash provided by (used in) financing activities 85,297,000 (148,000)
Net increase in cash and cash equivalents 12,232,000 6,713,000
Cash and cash equivalents at beginning of period 16,512,000 14,032,000
Cash and cash equivalents at end of period $ 28,744,000 $ 20,745,000