v3.22.2
Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities:    
Net loss $ (38,894) $ (29,316)
Adjustments to reconcile net loss to net cash used in operating activities:    
Issuance of common shares - Equity fee on at-the-market offering to Fortress Biotech 147 1,586
Common shares issuable for Founders Agreement 1 0
Research and development - licenses acquired 0 1,000
Issuance of common shares - Equity fee to Fortress Biotech on note payable 750 0
Stock-based compensation expenses 1,314 1,543
Depreciation expense 1,298 934
Amortization of debt discount 185 0
Amortization of operating lease right-of-use assets 80 68
Loss on disposal of property and equipment 239 0
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 67 324
Other receivables - related party 17 (17)
Accounts payable and accrued expenses 1,376 (3,414)
Payable and accrued expenses - related party (275) (241)
Lease liabilities (169) (142)
Net cash used in operating activities (33,864) (27,675)
Cash Flows from Investing Activities:    
Purchase of research and development licenses 0 (750)
Purchase of fixed assets (1,640) (2,149)
Net cash used in investing activities (1,640) (2,899)
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares - at-the-market offering 5,900 63,773
Offering costs for the issuance of common shares - at-the-market offering (110) (1,238)
Proceeds from debt issuance 30,000 0
Fees paid on the issuance of debt (2,651) 0
Proceeds from issuance of common shares under ESPP 116 158
Net cash provided by financing activities 33,255 62,693
Net change in cash, cash equivalents and restricted cash (2,249) 32,119
Cash, cash equivalents and restricted cash, beginning of the period 110,618 98,804
Cash, cash equivalents and restricted cash, end of the period 108,369 130,923
Supplemental disclosure of cash flow information:    
Cash paid for interest 845 0
Supplemental disclosure of noncash investing and financing activities:    
Fixed assets (acquired but not paid) 315 298
Issuance of common shares - Founders Agreement 4,212 7,577
Research and development licenses included in accounts payable and accrued expenses 0 250
Note payable final payment fee (incurred but not paid) 1,050 0
Lease liabilities arising from obtaining right-of-use assets $ 0 $ 81

Source