v3.21.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net (loss) income $ (36,511) $ 10,277
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 2,411 2,158
Amortization of premium on marketable securities 1,194 54
Stock-based compensation 9,859 5,718
Unrealized loss (gain) on equity securities 6,364 (48,860)
Remeasurement of liability awards 25 1,979
Other 258 322
Changes in operating assets and liabilities:    
Accounts receivable (3,601) 1,196
Prepaid expenses and other assets (5,265) 1,475
Accounts payable 1,742 (1,969)
Accrued compensation (2,313) (1,497)
Other liabilities 434 (413)
Deferred rent 2,092 (79)
Deferred revenue (12,382) (1,595)
Net cash used in operating activities (35,693) (31,234)
Investing activities    
Purchases of marketable securities (202,315) (91,270)
Maturities of marketable securities 85,250 63,800
Sales of marketable securities 9,000 14,500
Purchases of equipment and leasehold improvements (7,789) (2,529)
Net cash used in investing activities (115,854) (15,499)
Financing activities    
Proceeds from public offering   98,038
Payment of issuance costs (491) (6,627)
Proceeds from debt refinancing   25,000
Payment of debt   (10,000)
Proceeds from exercise of common stock options 1,812 64
Taxes paid related to net shares settlement of restricted stock units (407)  
Proceeds from employee stock purchase plan 873 646
Net cash provided by financing activities 1,787 107,121
Net (decrease) increase in cash, cash equivalents and restricted cash (149,760) 60,388
Cash, cash equivalents and restricted cash at beginning of period 207,024 4,975
Cash, cash equivalents and restricted cash at end of period 57,264 65,363
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,020 649
Supplemental disclosure of non-cash investing and financing information:    
Purchases of equipment included in accounts payable 1,376 1,286
Embedded interest associated with program fees $ 412 1,128
Warrants issued to lenders   $ 619

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