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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (20,428) $ (16,731)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation for property, plant and equipment 307 276
Loss on disposal of property, plant and equipment 65  
Amortization of intangible assets 674 763
Reduction in the carrying amount of the right-of-use assets 687 627
Gain on disposal of intangible assets 0 (450)
Impairment of intangible assets   1,537
Stock-based compensation expense 3,038 3,892
Acquired in-process research and development 6,555 1,081
Change in fair value of investments (3,482) (309)
Impairment loss of long-term investment 865  
Changes in operating assets and liabilities:    
Accounts receivable (1,122) (1,311)
Inventories (2,119) 4,112
Prepaid expenses and other assets 352 (33)
Accounts payable 884 (3,277)
Accrued liabilities and other liabilities (1,592) (1,190)
Deferred income (25) (11)
Net cash used in operating activities (15,341) (11,024)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from disposal of intangible assets   450
Purchases of property, plant and equipment (1,208) (103)
Loan to a related party   (4,265)
Cash paid to acquire in-process research and development (6,250) (1,081)
Receipt of government grants related to land use right   2,264
Net cash used in investing activities (13,044) (2,735)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable   466
Proceeds from bank borrowings 709  
Stock issuance costs (2,019) (42)
Proceeds from sale of common stock 32,500 1,399
Proceeds from exercise of stock options   3,852
Repurchase of stock options to satisfy tax withholding obligations   (251)
Net cash provided by financing activities 31,190 5,424
Effect of exchange rate change on cash and cash equivalents 488 (398)
Net increase in cash and cash equivalents 3,293 (8,733)
Cash and cash equivalents at beginning of period 57,064 53,621
Cash and cash equivalents at end of period 60,357 44,888
Supplemental disclosure of cash flow information:    
Interest paid 0 0
Income taxes paid 0 $ 0
Non-cash investing activity:    
Accrual for acquisition of in-process research and development 305  
Black Belt Tx Limited    
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid to acquire convertible loan (86)  
Cleave Therapeutics, Inc    
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid to acquire convertible loan $ (5,500)