Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:        
Net loss $ (15,207,000) $ (13,010,000) $ (31,209,000) $ (61,169,000)
Adjustments to reconcile net loss to cash used in operating activities:        
Non-cash licensed technology impairment charge 32,916,000
Depreciation and amortization 824,000 834,000 1,641,000 2,899,000
Stock option-based compensation expense     2,410,000 2,834,000
Restricted stock-based compensation expense     1,968,000 651,000
Non-cash interest expense     600,000
Accretion and interest on short-term investments     266,000 (156,000)
Amortization of right-of-use lease assets     543,000 496,000
Change in operating assets and liabilities:        
Prepaid expenses and other current assets     1,387,000 2,208,000
Other assets     (22,000)
Accounts payable, accrued expenses and lease liabilities     (4,977,000) (4,786,000)
Change in payable to licensor     2,919,000 800,000
Net cash used in operating activities     (25,074,000) (22,707,000)
Cash flows from investing activities:        
Capital expenditures     (501,000) (1,032,000)
Purchases of short-term investments     (15,164,000) (123,062,000)
Proceeds from maturities of short-term investments     46,965,000 30,014,000
Net cash provided by (used in)/investing activities     31,300,000 (94,080,000)
Cash flows from financing activities:        
Proceeds from loan payable     1,758,000
Proceeds from open market sales of common stock     7,666,000
Proceeds from exercise of stock options     691,000 175,000
Net cash provided by financing activities     8,357,000 1,933,000
Net increase/(decrease) in cash, cash equivalents and restricted cash     14,583,000 (114,854,000)
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 28,154,000 15,514,000 28,154,000 15,514,000
Supplemental cash flow information:        
Cash and cash equivalents 27,179,000 14,542,000 27,179,000 14,542,000
Restricted cash 975,000 972,000 975,000 972,000
Total cash, cash equivalents and restricted cash $ 28,154,000 $ 15,514,000 28,154,000 15,514,000
Cash paid for interest    
Cash paid for taxes