XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (26,424,000) $ (13,445,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 259,000 218,000
Amortization of debt discount and debt issuance costs 312,000 312,000
Change in deferred taxes (4,323,000) (2,534,000)
Stock-based compensation expense 2,505,000 1,728,000
Gain from release of certain liabilities (33,000) (78,000)
Other adjustments 702,000 561,000
Net changes in assets and liabilities    
Prepaid expenses and other current assets (2,058,000) (3,736,000)
Research and development tax credit receivable (19,000) 80,000
Accounts payable & other current liabilities (5,613,000) (3,789,000)
Accrued expenses 2,314,000 (2,112,000)
Other assets and liabilities (1,667,000) (618,000)
Net cash used in operating activities (34,045,000) (23,413,000)
Cash flows from investing activities:    
Purchases of property and equipment 0 (26,000)
Proceeds from the disposition of the hospital products 0 8,250,000
Proceeds from sales of marketable securities 44,341,000 40,736,000
Purchases of marketable securities (2,090,000) (37,769,000)
Net cash provided by investing activities 42,251,000 11,191,000
Cash flows from financing activities:    
Proceeds from stock option exercises and employee share purchase plan 2,009,000 149,000
Net cash provided by financing activities 2,009,000 149,000
Effect of foreign currency exchange rate changes on cash and cash equivalents (50,000) (477,000)
Net change in cash and cash equivalents 10,165,000 (12,550,000)
Cash and cash equivalents at January 1, 50,708,000 71,722,000
Cash and cash equivalents at March 31, 60,873,000 59,172,000
Supplemental disclosures of cash flow information:    
Interest paid 5,531,000 3,234,000
Income taxes paid $ 0 $ 0