v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ 21,611,000 $ 26,778,000
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and other 1,872,000 1,509,000
Stock-based compensation expense 3,682,000 4,066,000
Interest accrued on long-term debt 3,000 0
Amortization of debt discount and accretion related to debt 246,000 105,000
Accretion of asset retirement obligations 36,000 33,000
Loss on disposal of property and equipment 1,000 36,000
Changes in operating assets and liabilities:    
Prepaid expenses 1,302,000 (98,000)
Accounts receivable, related party 0 234,000
Other assets (1,706,000) 442,000
Operating lease right-of-use assets and liabilities (226,000) 28,000
Accounts payable (1,612,000) (869,000)
Accrued liabilities (2,234,000) (3,010,000)
Other liabilities, related party 0 (265,000)
Deferred revenue (7,449,000) 67,018,000
Deferred revenue, related party 0 (237,000)
Net cash used in/provided by operating activities (27,696,000) 42,214,000
Cash flows from investing activities:    
Purchases of property and equipment (553,000) (435,000)
Purchase of marketable securities (12,732,000) (73,652,000)
Sales of marketable securities 34,570,000 33,700,000
Net cash used in/provided by investing activities 21,285,000 (40,387,000)
Cash flows from financing activities:    
Payments of capital and finance lease obligations 0 (1,000)
Proceeds from stock option exercises 0 597,000
Proceeds from issuance of common stock and warrants, net offering expenses 0 71,145,000
Net cash provided by financing activities 0 71,741,000
Net increase/(decrease) in cash, cash equivalents, and restricted cash (6,411,000) 73,568,000
Cash, cash equivalents and restricted cash, beginning of period 28,651,000 28,886,000
Cash, cash equivalents and restricted cash, end of period 22,240,000 102,454,000
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 19,572,000 98,786,000
Restricted cash included in other assets $ 2,668,000 $ 3,668,000
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets
Total cash, cash equivalents and restricted cash $ 22,240,000 $ 102,454,000
Supplemental Cash Flow Information    
Cash paid for interest 753,000 317,000
Non-Cash Investing and Financing Activities    
Fixed asset additions in accounts payable and accrued expenses $ 621,000 $ 559,000

Source