Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (13,548) $ (13,015)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 9 25
Reduction (accretion) of discount on marketable securities 25 (25)
Non-cash interest expense 0 666
Change in fair value of warrant and derivative liability 0 (212)
Gain on extinguishment 0 (2,318)
Amortization of discounts and financing costs 0 1,043
Stock-based compensation 1,409 1,007
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 112 (2,480)
Accounts payable (1,119) (2,776)
Accrued liabilities (376) (2,207)
Promissory note 0 5,600
Deferred revenue (1,795) (7,248)
Net cash used in operating activities (15,283) (21,940)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Maturities of marketable securities 4,500 5,500
Cash and cash equivalents acquired in recapitalization 0 13,017
Capital expenditures 0 (8)
Net cash provided by investing activities 4,500 18,509
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuance of common stock and warrants 23,265 0
Proceeds from the issuance of note payable 437 0
Proceeds from the exercise of warrants 23 0
Proceeds from issuance of convertible promissory notes 0 7,397
Payments of principal of note payable 0 (4,808)
Net cash provided by financing activities 23,725 2,589
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 12,942 (842)
CASH AND CASH EQUIVALENTS—BEGINNING 7,232 8,067
CASH AND CASH EQUIVALENTS—ENDING 20,174 7,225
Supplement Disclosure of Cash Flow Information:    
Interest paid 0 319
Supplement Disclosure of Non-Cash Investing and Financing Activities:    
Conversion of redeemable convertible preferred stock and preferred stock dividends to common stock 0 48,016
Shares issued in recapitalization 0 23,076
Reduction of redeemable convertible preferred stock to redemption value 0 (10,376)
Warrants to purchase common stock issued with convertible promissory notes 0 1,492
Derivative liability issued with convertible promissory notes 0 1,442
Warrants to purchase common stock issued with funding agreement 0 876
Accretion of redeemable convertible preferred stock issuance costs $ 0 $ 103