Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

v3.21.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (46,321) $ (39,407)
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 1,661 652
Issuance of common shares - Equity fee on Public Offering to Fortress Biotech 0 932
Research and development - licenses acquired 1,630 1,837
Stock-based compensation expenses 2,427 2,368
Depreciation expense 1,512 1,223
Accretion of debt discount 0 2,321
Amortization of operating lease right-of-use assets 102 81
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 717 1,594
Other receivables - related party (26) (325)
Accounts payable and accrued expenses (525) 978
Payable and accrued expenses - related party (194) (291)
Deferred income 270 0
Lease liabilities (217) 193
Net cash used in operating activities (38,964) (27,844)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (1,280) (1,720)
Purchase of fixed assets (2,609) (1,228)
Net cash used in investing activities (3,889) (2,948)
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares - At-the-Market Offering 66,912 25,570
Offering costs for the issuance of common shares - At-the-Market Offering (1,293) (487)
Proceeds from issuance of common shares - Public Offering 0 37,230
Offering costs for the issuance of common shares - Public Offering 0 (2,282)
Repayment of notes payable 0 (15,750)
Proceeds from issuance of common shares under ESPP 309 349
Net cash provided by financing activities 65,928 44,630
Net change in cash, cash equivalents and restricted cash 23,075 13,838
Cash, cash equivalents and restricted cash, beginning of the period 98,804 62,413
Cash, cash equivalents and restricted cash, end of the period 121,879 76,251
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 1,577
Supplemental disclosure of noncash investing and financing activities:    
Fixed assets (acquired but not paid) 1,376 317
Issuance of common shares - Founders Agreement 7,577 4,923
Research and development licenses included in accounts payable and accrued expenses 350 117
Lease liabilities arising from obtaining right-of-use assets 81 0
Offering costs for the issuance of common shares - Public Offering, in accounts payable and accrued expenses $ 0 $ 161