Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities:    
Net loss $ (29,369) $ (24,871)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 477 562
Stock-based compensation 3,284 3,232
Noncash interest expense on loans 8 331
Impairment of property and equipment 0 108
Loss on disposal of assets 2 12
Revaluation of warrant liability 1 4
Accretion of bond discount on marketable securities   (484)
Change in right-of-use asset 353 301
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses and other assets 1,049 (1,122)
Operating lease liabilities (610) (482)
Accounts payable, accrued expenses and other liabilities 3,411 (1,258)
Net cash used in operating activities (21,394) (23,667)
Investing activities:    
Purchases of property and equipment (27)  
Maturities of marketable securities 3,500 79,389
Purchases of marketable securities   (53,806)
Net cash provided by investing activities 3,473 25,583
Financing activities:    
Proceeds from exercise of common stock options 136 28
Proceeds from issuance of common stock, net 101,010 10,312
Payment of employee withholding taxes on vested restricted stock units (1,071) (158)
Capital lease payments (10) (12)
Repayments of loans payable, net (5,045) (12,667)
Net cash provided by (used in) financing activities 95,020 (2,497)
Net increase (decrease) in cash, cash equivalents and restricted cash 77,099 (581)
Cash, cash equivalents and restricted cash-beginning of period 33,614 34,195
Cash, cash equivalents and restricted cash-end of period 110,713 33,614
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 19 600
Fair value of common stock warrants issued to underwriters   $ 347