Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited 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 $ (3,018) $ (13,383)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 85 54
Stock-based compensation expense 940 821
Accretion of investments discount 0 (23)
Amortization of debt issuance costs and discount 525 599
Change in fair value of warrant liabilities (16,567) (8,329)
Change in fair value of derivative liabilities (372) (1,393)
Noncash operating lease expense for right-of-use asset 100 97
Loss on extinguishment of debt 2,725 806
Noncash consideration associated with common stock purchase agreement 0 602
Changes in operating assets and liabilities:    
Prepaid expenses, other assets, deferred costs, and other 1,914 1,069
Accounts payable, accrued expenses, and other 1,214 (3,833)
Net cash used in operating activities (12,454) (22,913)
Cash flows from investing activities:    
Maturities of investments 0 17,142
Purchases of property and equipment 0 (4)
Purchase of intangible assets (251) 0
Purchases of investments 0 (14,235)
Net cash (used in) provided by investing activities (251) 2,903
Cash flows from financing activities:    
Proceeds from common stock issued 3,431 2,751
Payments of offering costs and underwriting discounts and commissions (78) (123)
Proceeds from loan payable 30,000 0
Payments of loan payable issuance costs (1,253) 0
Proceeds from common stock issuance under employee stock purchase plan 9 18
Repurchase of shares to satisfy tax withholdings 0 (73)
Proceeds from senior convertible notes 0 10,000
Payments of senior convertible notes issuance costs 0 (462)
Net cash provided by financing activities 32,109 12,111
Net increase (decrease) in cash, cash equivalents, and restricted cash 19,404 (7,899)
Cash, cash equivalents, and restricted cash at beginning of period 93,314 42,193
Cash, cash equivalents, and restricted cash at end of period 112,718 34,294
Supplemental cash flow information:    
Cash paid for interest 511 420
Cash received for interest 11 173
Noncash financing and investing activities:    
Common stock issued for settlement of senior convertible notes 7,452 2,784
Purchased intangible assets included in accounts payable and accrued expenses 321 0
Deferred offering and issuance costs included in accounts payable and accrued expenses 0 106
Common stock issued for commitment shares 0 602
Reclass of warrant liability to additional paid in capital 298 0
Reclass of deferred asset associated with issuance of loan payable to debt discount $ 390 $ 0