Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net loss $ (86,558) $ (84,038) $ (75,438)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 2,758 2,774 2,521
Amortization of right-of-use asset 260 261 201
Loss on disposal of fixed assets     (181)
Stock-based compensation expense 10,354 10,939 9,839
Change in fair value of warrant liability (16,682) 375  
Net amortization of premiums and discounts on marketable securities 224 (49) (949)
Amortization of debt-discount and accretion of deferred debt costs 706 287  
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (995) 309 (783)
Accounts receivable 7 19,993 (20,158)
Contract assets (655) (2,166)  
Other long-term assets (1,196) (1,269)  
Accounts payable 48 (1,057) 1,493
Accrued expenses 4,830 593 (3,576)
Deferred revenue (11,905) (6,292) 18,176
Proceeds for tenant improvement incentive from landlord   2,035 7,237
Operating lease asset and liabilities (736) (59) 1,365
Net cash used in operating activities (99,540) (57,364) (60,253)
Investing activities      
Purchases of property and equipment (1,245) (3,336) (12,638)
Proceeds from the disposition of property and equipment     110
Purchases of marketable securities (51,408)   (108,206)
Maturities of marketable securities   50,000 109,000
Net cash (used in) provided by investing activities (52,653) 46,664 (11,734)
Financing activities      
Payments on financing lease obligations (265) (241) (205)
Proceeds from issuance of common stock through employee benefit plans 157 1,076 211
Proceeds from the issuance of common stock through employee stock purchase plan 323 433 161
Proceeds from the issuance of common stock through exercise of warrants     2
Proceeds from issuance of common stock through at-the-market sales agreement, net of issuance costs   11,896 824
Proceeds from term loan, net of issuance costs   39,619  
Proceeds from issuance of common stock and accompanying warrants and pre-funded warrants in private placement, net of issuance costs   90,377  
Proceeds from issuance of common stock and warrants in public offerings, net of issuance costs 70,337   60,359
Proceeds from issuance of convertible preferred stock and accompanying warrants in public offering, net of issuance costs     4,638
Payment of issuance costs related to out of period offering (41) (207)  
Net cash provided by financing activities 70,511 142,953 65,990
Net (decrease) increase in cash, cash equivalents and restricted cash (81,682) 132,253 (5,997)
Cash and cash equivalents, Beginning of period 177,070 44,817 50,814
Cash and cash equivalents, End of period 95,388 177,070 44,817
Supplemental disclosure of cash flow information:      
Cash paid for interest 3,191 1,505 72
Cash paid for tax   7 29
Non-cash investing and financing activities:      
Property and equipment received but unpaid as of period end 26 6 1,565
Asset acquired under operating lease     16,240
Assets acquired under financing lease     1,059
Deferred debt financing costs incurred but unpaid as of period end 24 5 58
Offering costs incurred but unpaid as of period end $ 10 $ 298 $ 23