Annual report pursuant to Section 13 and 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (66,370) $ (60,015)
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 1,884 1,514
Issuance of common shares - Equity fee on Public Offering to Fortress Biotech 0 932
Common shares issuable for Founders Agreement 4,212 7,577
Research and development - licenses acquired 1,630 2,487
Stock-based compensation expenses 3,308 2,987
Depreciation expense 2,167 1,677
Accretion of debt discount 0 2,321
Amortization of operating lease right-of-use assets 139 108
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (401) (84)
Other receivables - related party (35) 4
Accounts payable and accrued expenses (408) 3,151
Payable and accrued expenses - related party 233 (106)
Deferred income 270 0
Lease liabilities (296) 128
Net cash used in operating activities (53,667) (37,319)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (1,380) (2,487)
Purchase of fixed assets (3,986) (1,925)
Net cash used in investing activities (5,366) (4,412)
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares - At-the-Market Offering 71,919 59,805
Offering costs for the issuance of common shares - At-the-Market Offering (1,381) (1,124)
Proceeds from issuance of common shares - Public Offering 0 37,230
Offering costs for the issuance of common shares - Public Offering 0 (2,388)
Repayment of notes payable 0 (15,750)
Proceeds from issuance of common shares under ESPP 309 349
Net cash provided by financing activities 70,847 78,122
Net change in cash, cash equivalents and restricted cash 11,814 36,391
Cash, cash equivalents and restricted cash, beginning of the period 98,804 62,413
Cash, cash equivalents and restricted cash, end of the period 110,618 98,804
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 1,593
Supplemental disclosure of noncash investing and financing activities:    
Fixed assets (acquired but not paid) 1,270 31
Issuance of common shares - Founders Agreement 7,577 4,923
Research and development licenses included in accounts payable and accrued expenses 250 0
Lease liabilities arising from obtaining right-of-use assets 101 0
Offering costs for the issuance of common shares - At-the-Market Offering, in accounts payable and accrued expenses $ 0 $ 84