Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

v3.22.2.2
Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net loss $ (57,891) $ (46,321)
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 165 1,661
Research and development - licenses acquired 40 1,630
Issuance of common shares - Equity fee to Fortress Biotech on note payable 750 0
Stock-based compensation expenses 1,810 2,427
Depreciation expense 1,995 1,512
Amortization of debt discount 328 0
Amortization of operating lease right-of-use assets 202 102
Loss on disposal of property and equipment 255 0
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (970) 717
Other receivables - related party 17 (26)
Accounts payable and accrued expenses 4,316 (525)
Payable and accrued expenses - related party (571) (194)
Deferred income 0 270
Lease liabilities (223) (217)
Net cash used in operating activities (49,777) (38,964)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (40) (1,280)
Proceeds from the sale of fixed assets 127 0
Purchase of fixed assets (2,619) (2,609)
Net cash used in investing activities (2,532) (3,889)
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares - at-the-market offering 6,622 66,912
Offering costs for the issuance of common shares - at-the-market offering (123) (1,293)
Proceeds from debt issuance 30,000 0
Fees paid on the issuance of debt (2,650) 0
Proceeds from issuance of common shares under ESPP 206 309
Net cash provided by financing activities 34,055 65,928
Net change in cash, cash equivalents and restricted cash (18,254) 23,075
Cash, cash equivalents and restricted cash, beginning of the period 110,618 98,804
Cash, cash equivalents and restricted cash, end of the period 92,364 121,879
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,803 0
Supplemental disclosure of noncash activities:    
Fixed assets (acquired but not paid) 21 1,376
Issuance of common shares - Founders Agreement 4,212 7,577
Research and development licenses included in accounts payable and accrued expenses 0 350
Note payable final payment fee (incurred but not paid) 1,050 0
Issuance of warrants - note payable 384 0
Lease liabilities arising from obtaining right-of-use assets $ 2,176 $ 81