Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Operating activities:    
Net loss $ (46,665) $ (37,635)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 300 322
Stock-based compensation 2,927 3,271
Noncash interest expense on loans 230  
Inventory valuation adjustment 2,070  
Revaluation of warrant liability (651) (6)
Returns reserve adjustment 383  
Accretion of bond discount on marketable securities (36)  
Change in right-of-use asset 354 304
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses and other assets 1,628 (1,801)
Inventories (503) (1,310)
Insurance recovery   9,000
Settlement liability   (9,000)
Operating lease liabilities (552) (512)
Accounts payable, accrued expenses and other liabilities (298) (214)
Net cash used in operating activities (40,813) (37,581)
Investing activities:    
Purchases of property and equipment (28) (16)
Maturities of marketable securities 15,000  
Long term deposits   (1,164)
Purchases of marketable securities (32,954)  
Net cash used in investing activities (17,982) (1,180)
Financing activities:    
Proceeds from exercise of common stock options   180
Proceeds from issuance of common stock, net   7,948
Payment of employee withholding taxes on vested restricted stock units   (117)
Finance lease payments (4) (6)
Change in equity receivable 13,906  
Proceeds from issuance of convertible Series A and Series B preferred stock and warrants, net of issuance costs 1,647  
Net cash provided by financing activities 15,549 8,005
Net decrease in cash, cash equivalents and restricted cash (43,246) (30,756)
Cash, cash equivalents and restricted cash-beginning of period 68,234 110,713
Cash, cash equivalents and restricted cash-end of period 24,988 79,957
Supplemental disclosure of cash flow information:    
Cash paid for interest 268  
Subscription receivable on exercise of options   $ 8
Allocation of loan payable proceeds to common stock warrants 603  
Preferred stock proceeds allocated to warrant liability (603)  
Conversion of Series A and Series B preferred stock to common stock $ (396)