Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (18,986) $ (22,243)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense (recoveries) 10 (67)
Non-cash interest expense 619 616
Amortization of debt discount 47 648
Accretion of convertible preferred shares   1,034
Amortization of acquired intangible assets 3,050 1,983
Amortization of operating lease right-of-use assets 67 64
Share-based compensation 2,985 41
Deferred tax benefit   (6,701)
Change in fair value of derivative liability   184
Research and development-licenses acquired, expense   13,819
Changes in operating assets and liabilities:    
Accounts receivable (5,431) (7,743)
Inventory 673 (10,210)
Prepaid expenses and other current assets 1,496 174
Other assets 47 (743)
Accounts payable 11,399 25,852
Related party expenses (567) 1,128
Accrued expenses (5,173) 3,350
Accrued interest 125  
Income tax payable 14 (99)
Lease liabilities (73) (62)
Net cash (used in) provided by operating activities (9,698) 1,025
Cash flows from investing activities    
Purchase of research and development licenses   (8,800)
Acquired intangible assets (20,000)  
Net cash used in investing activities (20,000) (8,800)
Cash flows from financing activities    
Proceeds from the exercise of stock options 142 7
Proceeds from Fortress note   9,540
Payment of license installment note payable (3,000) (5,300)
Proceeds from convertible preferred shares   18,967
Payment of debt issuance costs associated with convertible preferred shares (214) (1,996)
Proceeds from EWB term-loan, net of discount 19,763  
Repayment of line of credit (812)  
Offering costs for the issuance of common stock - initial public offering (371)  
Net cash provided by financing activities 15,508 21,218
Net change in cash (14,190) 13,443
Cash at the beginning of the period 49,081 8,246
Cash at the end of the period 34,891 21,689
Supplemental disclosure of cash flow information:    
Cash paid for interest 736  
Cash paid for income taxes 19 157
Supplemental disclosure of non-cash financing and investing activities:    
Deferred payment for asset acquisition $ 4,740  
Unpaid debt offering cost   214
Unpaid deferred offering cost   264
Derivative warrant liability associated with convertible preferred shares   362
Extinguishment of related party payable relates to deferred tax assets   $ 194