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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (16,907) $ (11,867)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5 7
Amortization of operating lease asset 133 129
Warrant inducement expense 4,829  
Stock-based compensation 1,512 1,065
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 771 3
Accounts payable and accrued expenses 4,011 (1,050)
Operating lease liability (133) (121)
Net cash used in operating activities (5,779) (11,834)
Investing activities    
Cash and cash equivalents received from acquisition 11,035  
Net cash provided by investing activities 11,035  
Financing activities    
Proceeds from issuances of common stock, net   9,676
Proceeds from issuances of non-voting preferred stock, net 95,226  
Proceeds from exercise of warrants, net 5,191  
Net cash provided by financing activities 100,417 9,676
Net change in cash and cash equivalents 105,673 (2,158)
Cash and cash equivalents at beginning of period 8,791 12,972
Cash and cash equivalents at end of period 114,464 $ 10,814
Supplemental disclosure of non-cash investing and financing activities    
Issuance of common stock in acquisition 1,194  
Issuance of non-voting convertible preferred stock in acquisition 69,723  
Fair value of options assumed in acquisition 3,278  
Fair value of warrants assumed in acquisition $ 12,944