Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (53,710) $ (12,468)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 111 53
Stock-based compensation expense 1,828 1,816
Accretion of investment discount (16) (111)
Amortization of debt issuance costs and discount 1,171 428
Change in fair value of warrant liabilities 4,497 (11,866)
Deferred offering write-off 0 230
Change in fair value of derivative liability (1,567) 0
Noncash operating lease expense for right-of-use asset 174 0
Loss on extinguishment of debt 1,045 0
Changes in operating assets and liabilities:    
Prepaid expenses, other assets, and deferred costs 3,254 (6,367)
Accounts payable and accrued expenses 5,215 219
Deferred revenue (121) (257)
Net cash used in operating activities (38,119) (28,323)
Cash flows from investing activities:    
Maturities of investments 65,740 84,874
Purchases of property and equipment 0 (565)
Purchase of investments (39,500) (85,112)
Net cash provided by (used in) investing activities 26,240 (803)
Cash flows from financing activities:    
Proceeds from common stock issued 46,337 31,657
Payments of offering costs and underwriting discounts and commissions (2,855) (2,272)
Proceeds from employee stock purchase plan issuances 49 39
Proceeds from senior convertible notes 16,000 0
Payments of senior convertible notes issuance costs (1,253) 0
Payment of loan payable expected to be refinanced (15,973) 0
Net cash provided by financing activities 42,305 29,424
Net increase in cash, cash equivalents, and restricted cash 30,426 298
Cash, cash equivalents, and restricted cash at beginning of period 11,767 11,469
Cash, cash equivalents, and restricted cash at end of period 42,193 11,767
Supplemental cash flow information:    
Cash paid for interest 850 1,618
Cash received for interest 898 986
Noncash financing and investing activities:    
Operating lease liabilities arising from obtaining right-of-use assets 3,365 0
Deferred offering costs reclassified to additional paid-in capital 36 84
Common stock issued for settlement of senior convertible notes $ 2,984 $ 0