Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (88,105) $ (78,335)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 14,335 12,268
Depreciation and amortization expense 1,591 2,222
Amortization of investment premiums 498 360
Non-cash operating lease expense 627 373
Asset retirement obligation accretion expense 7 21
Changes in operating assets and liabilities:    
Accounts receivable 318 (8,360)
Prepaid expenses and other current assets 609 1,828
Other assets 51 38
Accounts payable (4,588) 9,555
Accrued compensation (8,769) (7,672)
Accrued research and development expenses 539 (5,158)
Other current liabilities (570) 1,510
Deferred revenue (525) 6,058
Operating lease liabilities (645) (406)
Other long-term liabilities 98 0
Net cash used in operating activities (84,529) (65,698)
Investing activities    
Purchases of short-term investments (26,427) (94,055)
Proceeds from maturities and sales of short-term investments 89,247 109,751
Purchases of property and equipment (2,605) (2,197)
Net cash provided by (used in) investing activities 60,215 13,499
Financing activities    
Proceeds from issuance of common stock through ATM facilities, net 20,539 2,457
Proceeds from employee stock awards 96 1,749
Taxes paid related to net share settlement of restricted stock units (616) (1,231)
Principal payments on finance lease obligations (64) (66)
Other financing activities, net (104) (17)
Net cash provided by financing activities 19,851 2,892
Decrease in cash, cash equivalents and restricted cash (4,463) (49,307)
Cash, cash equivalents and restricted cash at beginning of period 107,478 201,798
Cash, cash equivalents and restricted cash at end of period 103,015 152,491
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 1,188 1,245
Accrued costs related to underwritten public offering 0 176
Accrued costs related to ATM facilities 23 75
Supplemental cash flow disclosure    
Cash paid for interest 5 10
Cash paid for income taxes $ 14 $ 8