Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ 22,018 $ 6,168
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and other 618 177
Stock-based compensation expense 2,192 1,360
Amortization of debt discount and accretion related to debt 148 105
Change in common stock warrant fair value 0 4
Accretion of asset retirement obligations 32 11
Loss on disposal of equipment 0 0
Changes in operating assets and liabilities:    
Prepaid expenses (1,409) 239
Accounts receivable, related party (892) (55)
Grants revenue receivable (2,341) (2)
Other assets 293 (338)
Operating lease right-of-use assets and liabilities (60) 0
Accounts payable 260 802
Accrued liabilities (3,912) 622
Other liabilities 1,746 (204)
Other liabilities, related party 7,754 0
Deferred revenue (1,467) 0
Deferred revenue, related party 907 (7,529)
Net cash used in operating activities (18,149) (10,976)
Cash flows from investing activities:    
Purchases of property and equipment (938) (625)
Purchase of marketable securities (50,463) (36,588)
Sales of marketable securities 18,450 1,293
Net cash used in investing activities (32,951) (35,920)
Cash flows from financing activities:    
Repayment of long-term debt (200) 0
Proceeds from stock option exercises 300 38
Proceeds from issuance of common stock and warrants, net of offering expenses (7) (8)
Net cash provided by financing activities 93 30
Net (decrease) increase in cash, cash equivalents, and restricted cash (51,007) (46,866)
Cash, cash equivalents and restricted cash, beginning of period 88,451 87,721
Cash, cash equivalents and restricted cash, end of period 37,444 40,855
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 34,444 37,855
Restricted cash included in Other assets $ 3,000 $ 3,000
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssetsMember us-gaap:OtherAssetsMember
Cash, cash equivalents and restricted cash, end of period $ 37,444 $ 40,855
Supplemental Cash Flow Information    
Cash paid for interest 163 174
Non-Cash Investing and Financing Activities    
Fixed asset additions in accounts payable and accrued expenses 944 0
Right-of-use asset obtained in exchange for operating lease obligations 0 7,234
Adoption of ASC 842 0 4,179
Total non-cash investing and financing activities $ 944 $ 11,413