Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.21.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (3,623) $ (12,474)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 133 82
Stock-based compensation expense 1,528 1,220
Amortization of debt issuance costs and discount 937 910
Change in fair value of warrant liabilities (35,378) (16,114)
Change in fair value of derivative liabilities (1,772) (6,683)
Noncash operating lease expense for right-of-use asset 149 144
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 1,271 1,482
Accounts payable, accrued expenses, and other 4,990 (2,757)
Net cash used in operating activities (29,040) (32,782)
Cash flows from investing activities:    
Maturities of investments 0 20,713
Purchases of property and equipment 0 (4)
Purchase of intangible assets (589) 0
Purchases of investments 0 (14,235)
Net cash (used in) provided by investing activities (589) 6,474
Cash flows from financing activities:    
Proceeds from common stock issued 8,027 4,702
Payments of offering costs and underwriting discounts and commissions (151) (279)
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 22 28
Repurchase of shares to satisfy tax withholdings (3) (75)
Proceeds from senior convertible notes 0 10,000
Payments of senior convertible notes issuance costs 0 (494)
Net cash provided by financing activities 36,642 13,882
Net increase (decrease) in cash, cash equivalents, and restricted cash 7,013 (12,426)
Cash, cash equivalents, and restricted cash at beginning of period 93,314 42,193
Cash, cash equivalents, and restricted cash at end of period 100,327 29,767
Supplemental cash flow information:    
Cash paid for interest 1,569 840
Cash received for interest 18 186
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 556 0
Deferred offering and issuance costs included in accounts payable and accrued expenses 50 54
Deferred offering costs reclassified to additional-paid-in capital 30 1
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
Settlement of liability for exercise of warrants $ 805 $ 0