v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (6,950) $ (9,610)
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 1,815 3,666
Common stock contribution to 401(k) 85 90
Depreciation 3 4
Amortization of debt issuance costs, debt discount and final payment on debt   200
Non-cash lease expense 84 79
Loss on extinguishment of debt   300
Change in fair value of equity securities 251 (617)
Changes in assets and liabilities:    
Trade and other receivables, net 204 251
Income tax receivable   1,526
Prepaid expenses and other assets (398) (701)
Accounts payable and accrued liabilities 582 748
Income tax payable (91)  
Operating lease liabilities (96) (88)
Unearned revenue recognized under units-of-revenue method (815) (731)
Other liabilities   (6)
Net cash used in operating activities (5,326) (4,889)
Cash flows from investing activities:    
Payment of contingent consideration under RPAs and CPPAs (5,000)  
Payments related to purchase of royalty rights and other commercial payment rights   (13,500)
Net cash used in investing activities (5,000) (13,500)
Cash flows from financing activities:    
Proceeds from issuance of preferred stock   40,000
Payment of preferred stock dividends (2,736) (707)
Payment of preferred and common stock issuance costs   (3,106)
Proceeds from exercise of options 1,905 1,355
Taxes paid related to net share settlement of equity awards (1,038) (355)
Principal payments - debt   (4,250)
Payment for extinguishment of debt   (17,103)
Payment for debt modification fee   (24)
Net cash (used in) provided by financing activities (1,869) 15,810
Net decrease in cash, cash equivalents and restricted cash (12,195) (2,579)
Cash and restricted cash at the beginning of the period 95,377 86,364
Cash, cash equivalents and restricted cash at the end of the period 83,182 83,785
Supplemental Cash Flow Information:    
Cash paid for taxes 95  
Cash paid for interest   311
Non-cash investing and financing activities:    
Preferred stock dividend accrual $ 1,368 1,424
Accrued cost related to issuance of preferred stock   $ 105

Source