Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Statements of Cash Flows

v3.19.1
Unaudited Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (22,908) $ (4,002)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 29 1
Stock-based compensation expense 492 425
Accretion of investment discount (82) (58)
Amortization of debt issuance costs and discount 200 111
Change in fair value of warrant liabilities 6,522 (3,554)
Change in fair value of derivative liability 3,425 0
Amortization of operating lease right-of-use asset 48 0
Loss on extinguishment of debt 814 0
Changes in operating assets and liabilities:    
Prepaid expenses, other assets, and deferred costs 6,390 422
Accounts payable and accrued expenses (1,367) (1,500)
Deferred revenue (64) (64)
Net cash used in operating activities (6,501) (8,219)
Cash flows from investing activities:    
Maturities of investments 24,638 11,980
Purchases of property and equipment 0 (10)
Purchases of investments (18,041) (15,975)
Net cash provided by (used in) investing activities 6,597 (4,005)
Cash flows from financing activities:    
Proceeds from common stock issued 2,588 30,192
Payments of offering costs and underwriting discounts and commissions (77) (1,906)
Proceeds from employee stock purchase plan issuance 20 20
Proceeds from senior convertible notes 16,000 0
Payments of senior convertible notes issuance costs (1,143) 0
Payment of loan payable expected to be refinanced (15,973) 0
Net cash provided by financing activities 1,415 28,306
Net increase in cash, cash equivalents, and restricted cash 1,511 16,082
Cash, cash equivalents, and restricted cash at beginning of period 11,767 11,469
Cash, cash equivalents, and restricted cash at end of period 13,278 27,551
Supplemental cash flow information:    
Cash paid for interest 411 379
Cash received for interest 291 128
Noncash financing and investing activities:    
Operating lease liabilities arising from obtaining right-of-use assets 3,365 0
Deferred offering and issuance costs included in accounts payable and accrued expenses 110 224
Deferred offering costs reclassified to additional-paid-in capital $ 2 $ 84