Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net (loss) income $ (22,243) $ 2,781
Reconciliation of net loss to net cash provided by operating activities:    
Depreciation expense   4
Bad debt (reserve) expense (67) 47
Amortization of debt discount 648  
Accretion of convertible preferred shares 1,034  
Non-cash interest 616 492
Extinguishment of related party income tax payable   908
Amortization of product revenue license fee 1,983 1,065
Amortization of operating lease right-of-use assets 64 68
Stock-based compensation expense 41 131
Change in fair value of derivative liability 184  
Deferred taxes (benefit) provision (6,701) 44
Research and development-licenses acquired, expense 13,819  
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable (7,743) (2,205)
Inventory (10,210) (195)
Income tax payable (99) (14)
Prepaid expenses and other current assets 174 353
Other assets (743) (200)
Accounts payable 25,852 5,961
Accounts payable, related party 695 42
Accrued expenses 3,350 (9,136)
Accrued expenses, related party 433  
Lease liabilities (62) (68)
Net cash provided by operating activities 1,025 78
Cash Flows from Investing Activities:    
Purchase of research and development licenses (8,800) (1,000)
Net cash used in investing activities (8,800) (1,000)
Cash Flows from Financing Activities:    
Proceeds from the exercise of stock options 7  
Proceeds from Fortress note 9,540  
Payment of license note payable (5,300)  
Proceeds from convertible preferred shares 18,967  
Payment of debt issuance costs associated with convertible preferred shares (1,996)  
Net cash provided by financing activities 21,218  
Net increase (decrease) in cash 13,443 (922)
Cash at beginning of period 8,246 4,801
Cash at end of period 21,689 3,879
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 157 98
Supplemental disclosure of non-cash financing and investing activities:    
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 $ 194 251
Unpaid intangible assets   $ 3,727