Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (16,002,000) $ (48,159,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Non-cash licensed technology impairment charge 32,916,000
Depreciation and amortization 817,000 2,065,000
Stock option-based compensation expense 1,083,000 1,256,000
Restricted stock-based compensation expense 867,000 464,000
Non-cash interest expense 600,000
Accretion and interest on short-term investments 125,000 (109,000)
Amortization of right-of-use lease assets 268,000 245,000
Change in operating assets and liabilities:    
Prepaid expenses and other current assets 882,000 416,000
Other assets (20,000)
Accounts payable, accrued expenses and lease liabilities (3,024,000) (2,926,000)
Change in payable to licensor 1,419,000
Net cash used in operating activities (13,585,000) (13,232,000)
Cash flows from investing activities:    
Capital expenditures (444,000) (479,000)
Purchases of short-term investments (15,164,000) (75,392,000)
Proceeds from maturities of short-term investments 24,984,000
Net cash provided by (used in) investing activities 9,376,000 (75,871,000)
Cash flows from financing activities:    
Proceeds from open market sales of common stock 5,211,000
Proceeds from exercise of stock options 667,000
Net cash provided by financing activities 5,878,000
Net increase (decrease) in cash, cash equivalents and restricted cash 1,669,000 (89,103,000)
Cash, cash equivalents and restricted cash at beginning of period 13,571,000 130,368,000
Cash, cash equivalents and restricted cash at end of period 15,240,000 41,265,000
Supplemental cash flow information:    
Cash and cash equivalents 14,265,000 40,155,000
Restricted cash 975,000 1,110,000
Total cash, cash equivalents and restricted cash 15,240,000 41,265,000
Cash paid for interest
Cash paid for taxes