Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ 83,009 $ 104,916
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and other 6,630 3,917
Loss on disposal of property and equipment 442 2,170
Stock-based compensation expense 16,631 11,817
Interest due on long-term debt 146 109
Amortization of debt discount and accretion related to debt 737 448
Accretion of asset retirement obligations 135 125
Loss on extinguishment of debt 0 1,237
Changes in operating assets and liabilities:    
Prepaid expenses 223 (1,822)
Accounts receivable, related party 234 174
Grants revenue receivable 0 7,100
Other assets (289) 8
Operating lease right-of-use assets and liabilities 243 (87)
Accounts payable (757) 499
Accrued liabilities (3,268) (2,672)
Other liabilities, related party (11,853) 12,325
Other liabilities (472) 0
Deferred revenue 47,735 (8,903)
Deferred revenue, related party (3,895) (5,326)
Net cash used in operating activities (30,387) (83,797)
Cash flows from investing activities:    
Purchases of property and equipment (3,996) (7,392)
Proceeds on sale of equipment 0 15
Purchase of marketable securities (210,994) (132,809)
Sales of marketable securities 152,550 105,523
Net cash used in investing activities (62,440) (34,663)
Cash flows from financing activities:    
Payments of capital and finance lease obligations (1) (18)
Proceeds from issuance of long-term debt and warrants, net 19,828 14,677
Repayment of long-term debt 0 (5,176)
Proceeds from stock option exercises 1,620 1,040
Proceeds from issuance of common stock and warrants, net offering expenses 71,145 48,372
Net cash provided by financing activities 92,592 58,895
Net increase/(decrease) in cash, cash equivalents, and restricted cash (235) (59,565)
Cash, cash equivalents and restricted cash, beginning of period 28,886 88,451
Cash, cash equivalents and restricted cash, end of period 28,651 28,886
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 24,983 25,218
Restricted cash included in Other assets $ 3,668 $ 3,668
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets
Cash, cash equivalents and restricted cash, end of period $ 28,651 $ 28,886
Supplemental Cash Flow Information    
Cash paid for interest 2,248 931
Non-Cash Investing and Financing Activities    
Fixed asset additions in accounts payable and accrued expenses $ 81 $ 980