v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss - before noncontrolling interest (“NCI”) $ (22,779) $ (20,755)
Adjustments to reconcile net loss - before NCI to net cash used in operating activities    
Depreciation expense 22 9
Stock-based compensation 6,639 872
Amortization expense 6
In-process R&D charge 133
Change in fair value - Senior Secured Convertible Notes and Senior Convertible Note (1,682) 5,888
Debt extinguishment loss - Senior Secured Convertible Notes and Senior Convertible Note 3,715 3,937
Debt forgiveness (300)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,441) (747)
Accounts payable 650 1,295
Accrued expenses and other current liabilities (759) 155
Net cash flows used in operating activities (15,796) (9,346)
Cash flows from investing activities    
Purchase of equipment (157) (44)
Acquisition, net of cash acquired (47)
Net cash flows used in investing activities (204) (44)
Cash flows from financing activities    
Proceeds – issue of common stock – registered offerings 55,016
Payment – offering costs – registered offerings (1,312)
Proceeds – issue of Senior Secured Convertible Notes 6,300
Proceeds – issue of Senior Convertible Note 3,700
Proceeds – Cares Act Paycheck Protection Program Loan 300
Payment – repayment of Senior Convertible Note and Senior Secured Convertible Note (14,816)
Payment – Senior Convertible Note and Senior Secured Convertible Note – non-installment payments (154) (192)
Proceeds – exercise of Series Z warrants 2,785
Proceeds – exercise of Series S Warrants 12
Proceeds – issue common stock – Employee Stock Purchase Plan 304 126
Proceeds – exercise of stock options 131
Proceeds – exercise of stock options issued under equity incentive plan of majority owned subsidiary 5
Net cash flows provided by financing activities 41,954 10,251
Net increase (decrease) in cash 25,954 861
Cash, beginning of period 17,256 6,219
Cash, end of period $ 43,210 $ 7,080

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