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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating Activities    
Net loss $ (8,242) $ (87,933)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 35,390  
Stock-based compensation expense 1,342 3,405
Depreciation and amortization 230 290
Bad debt expense 200  
Loss on lease termination 115  
Net gain on disposal of assets (57,186)  
Changes in operating assets and liabilities:    
Accounts and other receivables 1,618 1,495
Prepaid and other current assets 1,609 3,880
Accounts payable (6,225) 500
Accrued compensation and other accrued liabilities (1,895) (3,680)
Operating lease liability and right-of-use asset 178 41
Deferred revenue (230) (1,753)
Net cash flows used in operating activities (33,096) (83,755)
Investing Activities    
Proceeds from maturities of short-term investments 2,504 49,028
Purchases of property and equipment   (839)
Proceeds from the sale of property and equipment 498  
Proceeds from the sale of complement portfolio to Vertex 55,000  
Payment of transaction costs in connection with sale of complement portfolio to Vertex (2,576)  
Net cash flows provided by investing activities 55,426 48,189
Financing Activities    
Issuance of common stock for public offering, net of issuance costs   49,250
Payment of dividends (45,031)  
Issuance of common stock from stock grants and option exercises 20 303
Net cash flows (used in) provided by financing activities (45,011) 49,553
Net (decrease) increase in cash and cash equivalents (22,681) 13,987
Cash and cash equivalents at beginning of the period 44,347 30,360
Cash and cash equivalents at end of the period 21,666 44,347
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Dividend declared, unpaid 7,558  
CVR derivative liability $ 5,000  
Right-of-use assets obtained in exchange for operating lease liabilities   1,850
Remeasurement of right-of-use asset due to operating lease modification   $ 624