Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.20.2
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net loss $ (39,407) $ (30,180)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of debt discount 2,321 466
Issuance of common shares - Equity fee on At-the-Market Offering to Fortress Biotech 417 495
Issuance of common shares - Equity fee on Public Offering to Fortress Biotech 932 791
Issuance of common shares - Equity fee on Horizon Notes to Fortress Biotech 0 375
Common shares issuable for Founders Agreement 235 0
Research and development - licenses acquired 1,837 1,350
Stock-based compensation expenses 2,368 2,174
Depreciation expense 1,223 907
Amortization of operating lease right-of-use assets 81 80
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,594 (440)
Other receivables - related party (325) (55)
Accounts payable and accrued expenses 978 (203)
Payable and accrued expenses - related party (291) 48
Lease liabilities 193 101
Net cash used in operating activities (27,844) (24,091)
Cash Flows from Investing Activities:    
Maturity of certificate of deposit 0 17,604
Purchase of research and development licenses (1,720) (850)
Purchase of fixed assets (1,228) (1,454)
Net cash (used in) provided by investing activities (2,948) 15,300
Cash Flows from Financing Activities:    
Proceeds from Horizon Notes 0 15,000
Debt issuance costs 0 (1,393)
Proceeds from issuance of common shares - At-the-Market Offering 25,570 22,515
Offering costs for the issuance of common shares - At-the-Market Offering (487) (543)
Proceeds from issuance of common shares 37,230 31,625
Offering costs for the issuance of common shares - Public Offering (2,282) (2,088)
Repayment of notes payable (15,750) 0
Proceeds from issuance of common shares under ESPP 349 0
Net cash provided by financing activities 44,630 65,116
Net change in cash, cash equivalents and restricted cash 13,838 56,325
Cash, cash equivalents and restricted cash, beginning of the period 62,413 16,969
Cash, cash equivalents and restricted cash, end of the period 76,251 73,294
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,577 698
Supplemental disclosure of noncash investing and financing activities:    
Fixed assets (acquired but not paid) 317 288
Issuance of common shares - Founders Agreement 4,923 2,085
Research and development licenses included in accounts payable and accrued expenses 117 500
Offering costs for the issuance of common shares - Public Offering, in accounts payable and accrued expenses 161 0
Issuance of warrants - Horizon Notes $ 0 $ 888