Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net loss $ (18,426) $ (22,808)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 431 496
Stock-based compensation 2,315 3,519
Noncash interest expense on loans 285 626
Impairment of property and equipment 108  
Loss on disposal of assets   124
Revaluation of warrant liability 5 3
Accretion of bond discount on marketable securities (442) (88)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,766) 197
Operating lease right-of-use assets and operating lease liabilities (118)  
Accounts payable, accrued expenses and other liabilities 746 (1,744)
Net cash used in operating activities (16,862) (19,675)
Investing activities:    
Purchases of property and equipment   (379)
Maturities of marketable securities 67,390 50,284
Purchases of marketable securities (53,805) (46,330)
Net cash provided by investing activities 13,585 3,575
Financing activities:    
Proceeds from exercise of common stock options 21 83
Proceeds from issuance of common stock, net 9,243 33,195
Payment of employee withholding taxes on vested restricted stock units (109)  
Capital lease payments (10)  
Capital lease payments   (8)
Repayments of loans payable, net (9,500) (9,500)
Net cash (used in) provided by financing activities (355) 23,770
Net (decrease) increase in cash, cash equivalents and restricted cash (3,632) 7,670
Cash, cash equivalents and restricted cash - beginning of period 34,195 17,970
Cash, cash equivalents and restricted cash - end of period 30,563 25,640
Supplemental disclosure of cash flow information:    
Cash paid for interest 529 $ 1,161
Fair value of common stock warrants issued to underwriters $ 347