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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Operating activities        
Net loss $ (40,928)   $ (11,745)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation 4,524   2,552  
Depreciation and amortization 489   569  
Non-cash lease expense 113   91  
Loss (gain) on disposal of property and equipment 3   (2)  
Loss on extinguishment of debt 11,483   2,311 $ 2,300
Accretion and non-cash interest expense 2,521   953  
Changes in operating assets and liabilities:        
Accounts receivable, net 1,491   886  
Inventory (3,517)      
Prepaid expenses and other current assets (1,832)   214  
Other noncurrent assets 63      
Accounts payable 303   (1,495)  
Accrued expenses and other current liabilities 668   (2,577)  
Operating lease liabilities (247)   (214)  
Net cash used in operating activities (24,866)   (8,457)  
Investing activities        
Purchases of property, plant and equipment (624)   (366)  
Proceeds from the sale of property, plant and equipment 0   2  
Net cash used in investing activities (624)   (364)  
Financing activities        
Proceeds from revenue interest financing, net 24,975   31,814  
Principal payments on long-term debt     (20,000)  
Payments for debt prepayment and extinguishment costs     (2,190)  
Payments on revenue interest financing liability (654) $ (654)    
Principal payments on finance leases (26)   (105)  
Receipts from litigation financing 3   17  
Proceeds from sale of common stock, net of issuance costs 74,868      
Proceeds from issuance of common stock under stock incentive plans 503   414  
Net cash provided by financing activities 99,669   9,950  
Net increase in cash and cash equivalents 74,179   1,129  
Cash and cash equivalents, beginning of period 83,679   93,283 93,283
Cash and cash equivalents, end of period 157,858 $ 157,858 94,412 $ 83,679
Supplemental disclosure of cash flow information        
Cash paid for interest 0   360  
Cash paid for operating lease liabilities 328   319  
Non-cash increase in property, plant and equipment through accounts payable 786   122  
Non-cash increase in indemnification asset through accounts payable $ 5   $ 17