Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net loss $ (41,658) $ (84,376)
Adjustments to reconcile net loss used in operating activities:    
Stock-based compensation 7,554 8,172
Depreciation and amortization 166 1,657
Accretion of debt discount 1,389 794
Allowance for other long-term asset 1,000 0
Deferred taxes 28 22
Changes in assets and liabilities:    
Accounts receivable, net 1,060 1,117
Other receivables 1,820 (1,531)
Other long-term asset 0 (1,000)
Inventory, net 18 (35)
Prepaid expenses and other assets 1,082 287
Accounts payable (487) 796
Income taxes payable 0 0
Deferred revenue 88 0
Accrued expenses and other liabilities, excluding lease liability (3,632) 3,250
Lease liability, net (9) (45)
Derivative liability 4,830 0
Net cash used in operating activities (26,751) (70,892)
Investing activities    
Purchase of property and equipment (95) (113)
Net cash used in investing activities (95) (113)
Financing activities    
Proceeds from issuance of common stock and pre-funded warrants in underwritten public offering, net 0 37,653
Proceeds from Notes and warrants, net of debt issuance costs paid 0 32,900
Prepayment on Notes (14,806) 0
Proceeds from issuance of common stock in underwritten public offering, net 0 29,046
Proceeds from common stock pursuant to ATM Program, net 34 5,230
Proceeds from exercise of stock options 0 1,567
Proceeds from issuance of common stock under employee stock purchase plan 73 366
Net cash (used in) provided by financing activities (14,699) 106,762
(Decrease) increase in cash, cash equivalents, and restricted cash (41,545) 35,757
Cash, cash equivalents, and restricted cash at beginning of period 54,863 19,106
Cash, cash equivalents, and restricted cash at end of period 13,318 54,863
Supplemental disclosures of cash flow information    
Cash paid for interest 2,931 1,585
Cash paid for taxes 0 0
Supplemental disclosures of non-cash activities    
Leased asset obtained in exchange for new operating lease liability 0 1,373
Cash and cash equivalents 13,172 54,585
Restricted cash, current 15 51
Restricted cash, non-current 131 227
Total cash, cash equivalents and restricted cash $ 13,318 $ 54,863