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 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:        
Net loss $ (7,044,000) $ (7,237,000) $ (38,253,000) $ (68,406,000)
Adjustments to reconcile net loss to cash used in operating activities:        
Non-cash licensed technology impairment charge 32,916,000
Non-cash gain on settlement with licensor (6,743,000) (6,743,000)
Non-cash PPP loan payable forgiveness income (1,758,000) (1,758,000)
Non-cash interest expense     600,000
Depreciation and amortization 802,000 847,000 2,443,000 3,746,000
Stock option-based compensation expense     3,797,000 4,083,000
Restricted stock-based compensation expense     3,118,000 812,000
Accretion and interest on short-term investments     256,000 (237,000)
Amortization of right-of-use lease assets     825,000 752,000
Change in operating assets and liabilities:        
Receivables     (7,000,000)
Prepaid expenses and other current assets     1,801,000 2,443,000
Other assets     (23,000) (62,000)
Accounts payable, accrued expenses and lease liabilities     (4,459,000) (5,183,000)
Change in payable to licensor     3,588,000 2,127,000
Net cash used in operating activities     (35,408,000) (33,409,000)
Cash flows from investing activities:        
Capital expenditures     (903,000) (1,303,000)
Purchases of short-term investments     (15,164,000) (139,230,000)
Proceeds from maturities of short-term investments     74,130,000 51,037,000
Net cash provided by (used in)/investing activities     58,063,000 (89,496,000)
Cash flows from financing activities:        
Proceeds from loan payable     1,758,000
Proceeds from open market sales of common stock     7,699,000
Proceeds from exercise of stock options     831,000 175,000
Net cash provided by financing activities     8,530,000 1,933,000
Net increase/(decrease) in cash, cash equivalents and restricted cash     31,185,000 (120,972,000)
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 44,756,000 9,396,000 44,756,000 9,396,000
Supplemental cash flow information:        
Cash and cash equivalents 43,781,000 8,424,000 43,781,000 8,424,000
Restricted cash 975,000 972,000 975,000 972,000
Total cash, cash equivalents and restricted cash $ 44,756,000 $ 9,396,000 44,756,000 9,396,000
Cash paid for interest    
Cash paid for taxes