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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (70,470,000) $ (32,220,000) $ (18,645,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 4,208,000 2,710,000 3,596,000
Gain on sale of equipment 0 0 (1,000)
Accretion of premium on investments 85,000 0 0
Impairment of property and equipment and right-of-use assets 0 0 1,272,000
Impairment of intangible assets 3,005,000 0 0
Stock-based compensation 8,867,000 4,358,000 627,000
Non-cash interest expense 0 0 88,000
Gain on remeasurement of future royalty liability (3,789,000) 0 0
Loss on debt extinguishment 0 0 100,000
Non-cash interest expense related to sale of future royalties 1,480,000 1,874,000 2,073,000
Non-cash revenue related to sale of future royalties (1,098,000) (3,277,000) (3,482,000)
Change in operating assets and liabilities:      
Accounts receivable 263,000 3,285,000 (1,823,000)
Prepaid expenses and other assets (1,800,000) (1,108,000) 855,000
Accounts payable 1,626,000 1,207,000 (62,000)
Accrued liabilities (2,209,000) (579,000) 2,312,000
Net cash used in operating activities (59,832,000) (23,750,000) (13,090,000)
Cash flows from investing activities:      
Purchase of property and equipment (5,157,000) (1,223,000) (850,000)
Proceeds from sale of equipment 0 3,000 0
Purchases of investments (44,811,000) 0 0
Proceeds from maturities of investments 5,700,000 0 0
Net cash used in investing activities (49,097,000) (1,220,000) (850,000)
Cash flows from financing activities:      
Net proceeds from issuance of common stock in registered direct offerings 0 9,175,000 2,540,000
Proceeds from issuance of common stock upon exercise of pre-funded warrants 0 0 1,226,000
Proceeds from issuance of common stock upon exercise of common stock warrants 1,849,000 25,951,000 180,000
Proceeds from issuance of common stock upon exercise of stock options 1,745,000 602,000 0
Disgorgement of short-swing profits, net of costs 0 652,000 0
Repayment of principal on secured promissory note payable to Oxford Finance 0 0 (3,799,000)
Net cash provided by financing activities 125,804,000 138,314,000 15,960,000
Net increase in cash and cash equivalents 16,875,000 113,344,000 2,020,000
Cash and cash equivalents at beginning of the period 126,870,000 13,526,000 11,506,000
Cash and cash equivalents at end of the period 143,745,000 126,870,000 13,526,000
Supplemental disclosure of cash flow information:      
Interest paid 0 0 227,000
Supplemental disclosure of non-cash investing and financing activity:      
Issuance of warrants to placement agents’ designees 0 453,000 100,000
Issuance of warrants to underwriters’ designees 0 0 830,000
Operating lease liabilities arising from obtaining right-of-use assets 8,395,000 5,664,000 1,929,000
Property and equipment acquired as an incentive to enter an operating lease 0 87,000 0
Lease-related assets and liabilities derecognized on early termination and modification of leases 321,000 0 0
Acquisition of property and equipment included in accounts payable and accrued expenses 453,000 78,000 4,000
Proceeds due for sale of property and equipment included in prepaid expenses and other current assets 0 0 3,000
ATM Program [Member]      
Cash flows from financing activities:      
Net proceeds from issuance of common stock in registered direct offerings 122,210,000 101,934,000 0
The April 2019 Offering [Member]      
Cash flows from financing activities:      
Net proceeds from issuance of common stock, pre-funded warrants and common warrants in underwritten offering 0 0 8,074,000
The September 2019 Offering [Member]      
Cash flows from financing activities:      
Net proceeds from issuance of common stock, pre-funded warrants and common warrants in underwritten offering 0 0 7,739,000
Kindred BioSciences GMP Line Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of business $ (4,829,000) $ 0 $ 0