Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (36,718) $ (34,422)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,350 1,370
Amortization of right-of-use asset 130 130
Stock-based compensation expense 5,383 5,186
Change in fair value of warrant liability (12,281)  
Net amortization of premiums and discounts on marketable securities 20 (49)
Amortization of debt-discount and accretion of deferred debt costs 341 117
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 241 376
Accounts receivable 7 19,998
Contract assets 147 (1,451)
Other long-term assets (726) (378)
Accounts payable (6) (2,152)
Accrued expenses (861) (1,653)
Deferred revenue (5,112) (1,556)
Proceeds for tenant improvement incentive from landlord   2,035
Operating lease asset and liabilities (359) 264
Net cash used in operating activities (48,444) (12,185)
Investing activities    
Purchases of property and equipment (690) (2,785)
Purchases of marketable securities (34,417)  
Maturities of marketable securities   50,000
Net cash (used in) provided by investing activities (35,107) 47,215
Financing activities    
Payments on financing and capital lease obligations (129) (118)
Proceeds from issuance of common stock through employee benefit plans 157 212
Proceeds from the issuance of common stock through employee stock purchase plan 153 223
Proceeds from issuance of common stock through at-the-market sales agreement, net of issuance costs   11,896
Proceeds from term loan, net of issuance costs   19,700
Proceeds from issuance of common stock in public offering, net of issuance costs 70,337  
Payment of issuance cost related to out of period offering (36)  
Net cash provided by financing activities 70,482 31,913
Net Increase (decrease) in cash, cash equivalents and restricted cash (13,069) 66,943
Cash and cash equivalents, Beginning of period 177,070 44,817
Cash and cash equivalents, End of period 164,001 111,760
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,585 642
Cash paid for tax   7
Non-cash investing and financing activities:    
Property and equipment received but unpaid as of period end 113 301
Offering costs incurred but unpaid as of period end $ 10 $ 176