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, 2022
Jun. 30, 2021
Operating activities    
Net loss $ (59,627) $ (36,718)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,342 1,350
Amortization of right-of-use asset 131 130
Stock-based compensation expense 5,552 5,383
Change in fair value of warrant liability (2,604) (12,281)
Net amortization of premiums and discounts on marketable securities 140 20
Amortization of debt-discount and accretion of deferred debt costs 378 341
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (131) 241
Accounts receivable   7
Contract assets 686 147
Other long-term assets (791) (726)
Accounts payable 2,328 (6)
Accrued expenses 3,405 (861)
Deferred revenue (6,590) (5,112)
Operating lease asset and liabilities (414) (359)
Net cash used in operating activities (56,195) (48,444)
Investing activities    
Purchases of property and equipment (239) (690)
Purchases of marketable securities   (34,417)
Maturities of marketable securities 23,511  
Net cash (used in) provided by investing activities 23,272 (35,107)
Financing activities    
Payments on financing and capital lease obligations (142) (129)
Proceeds from issuance of common stock through employee benefit plans   157
Proceeds from the issuance of common stock through employee stock purchase plan 109 153
Proceeds from the issuance of common stock through exercise of option 1  
Proceeds from issuance of common stock and warrants in public offering, net of issuance costs   70,337
Payment of issuance cost related to the proposed merger and PIPE Financing (See Note 12) (259)  
Payment of issuance cost related to out of period offering (24) (36)
Net cash (used in) provided by financing activities (315) 70,482
Net (decrease) increase in cash, cash equivalents and restricted cash (33,238) (13,069)
Cash and cash equivalents, Beginning of period 95,388 177,070
Cash and cash equivalents, End of period 62,150 164,001
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,573 1,585
Non-cash investing and financing activities:    
Property and equipment received but unpaid as of period end 155 113
Offering costs incurred but unpaid as of period end $ 1,459 $ 10