Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.20.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (7,002) $ (22,908)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 28 29
Stock-based compensation expense 410 492
Accretion of investments discount (31) (82)
Amortization of debt issuance costs and discount 278 200
Warrant liabilities fair value adjustment (4,768) 6,522
Derivative liability fair value adjustment (700) 3,425
Noncash operating lease expense for right-of-use asset 48 48
Loss on extinguishment of debt 0 814
Changes in operating assets and liabilities:    
Prepaid expenses, other assets, deferred costs, and other 1,734 6,390
Accounts payable, accrued expenses, and other (4,054) (1,367)
Deferred revenue 0 (64)
Net cash used in operating activities (14,057) (6,501)
Cash flows from investing activities:    
Maturities of investments 6,477 24,638
Purchases of property and equipment (4) 0
Purchases of investments (14,235) (18,041)
Net cash (used in) provided by investing activities (7,762) 6,597
Cash flows from financing activities:    
Proceeds from common stock issued 214 2,588
Payments of offering costs and underwriting discounts and commissions (7) (77)
Proceeds from common stock issuance under employee stock purchase plan 18 20
Repurchase of shares to satisfy tax withholdings (73) 0
Proceeds from senior convertible notes 0 16,000
Payments of senior convertible notes issuance costs 0 (1,143)
Payment of loan payable expected to be refinanced 0 (15,973)
Net cash provided by financing activities 152 1,415
Net (decrease) increase in cash, cash equivalents, and restricted cash (21,667) 1,511
Cash, cash equivalents, and restricted cash at beginning of period 42,193 11,767
Cash, cash equivalents, and restricted cash at end of period 20,526 13,278
Supplemental cash flow information:    
Cash paid for interest 420 411
Cash received for interest 129 291
Noncash financing and investing activities:    
Operating lease liabilities arising from obtaining right-of-use assets 0 3,365
Deferred offering and issuance costs included in accounts payable and accrued expenses 40 110
Deferred offering costs reclassified to additional-paid-in capital $ 0 $ 2