XML 19 R8.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net loss $ (18,849) $ (12,710)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on disposal of assets 1 0
Impairment loss 0 34
Depreciation 338 349
Stock-based compensation expense 2,244 821
Amortization of premiums on short-term investments 1,160 0
Change in fair value of derivative financial instruments—warrants (280) 186
Release of clinical trial funding commitment 1,505 868
Changes in operating assets and liabilities:    
Other assets 261 2
Accounts receivable and unbilled receivable (74) (1)
Prepaid expenses and other assets (741) (624)
Operating lease right-of-use assets 386 240
Accounts payable and accrued expenses (830) 320
Operating lease liabilities (645) (636)
Other liabilities (126) (40)
Net cash used in operating activities (15,650) (11,191)
Investing activities:    
Capital expenditures (98) (154)
Maturities of short-term investments 15,101 0
Purchases of short-term investments (146,632) 0
Sales of short-term investments 8,975 0
Net cash used in investing activities (122,654) (154)
Financing activities:    
Proceeds from sales of common stock, preferred stock and warrants, net of expenses of $776 and $634, respectively 19,225 18,279
Costs related to the clinical trial funding commitment 0 (8)
Proceeds from exercise of options 0 7
Proceeds from exercise of warrants 1,263 18,972
Borrowings under note payable 0 305
Net cash provided by financing activities 20,488 37,555
Net change in cash and cash equivalents (117,816) 26,210
Cash and cash equivalents—Beginning of period 130,981 10,195
Cash and cash equivalents—End of period 13,165 36,405
Supplementary disclosure of cash flow activity:    
Cash paid for taxes 1 1
Supplemental disclosure of non-cash investing and financing activities:    
Preferred stock dividend payable on Series A Convertible Preferred Stock 18 18
Series D Convertible Preferred Stock    
Supplemental disclosure of non-cash investing and financing activities:    
Deemed dividend recognized for beneficial conversion features of Convertible Preferred Stock issuance 0 602
Common stock, preferred stock and warrants issued in connection with clinical trial funding commitment 0 2,300
Series E Convertible Preferred Stock    
Supplemental disclosure of non-cash investing and financing activities:    
Deemed dividend recognized for beneficial conversion features of Convertible Preferred Stock issuance $ 0 $ 2,665