v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net (loss) income $ (9,368) $ 2,339  
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Stock-based compensation expense 3,269 4,233  
Common stock contribution to 401(k) 88 102  
Depreciation and amortization 19 19  
Amortization of debt issuance costs, debt discount and final payment on debt 546 390  
Provision for bad debt 1,409    
Non-cash lease expense 112 1,464  
Change in fair value of equity securities (1,891) (481)  
Changes in assets and liabilities:      
Trade and other receivables, net 1,302 (2,358)  
Income tax receivable (1,526)    
Prepaid expenses and other assets (319) (265)  
Accounts payable and accrued liabilities (464) 232  
Unearned revenue recognized under units-of-revenue method (1,052) (772)  
Operating lease liabilities (120) (1,634)  
Other liabilities 409 594  
Net cash (used in) provided by operating activities (7,586) 3,863  
Cash flows from investing activities:      
Purchase of property and equipment (9)    
Payments related to purchase of royalty rights   (19,300)  
Net cash used in investing activities (9) (19,300)  
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs 26 17  
Proceeds from exercise of options 42 776  
Proceeds from issuance of long-term debt   9,500  
Payment of stock issuance costs (231) (377)  
Principal payments - debt (3,188)    
Principal payments - finance lease (14) (11)  
Proceeds from disgorgement of stockholder's short-swing profits 13    
Taxes paid related to net share settlement of equity awards (16) (504)  
Net cash (used in) provided by financing activities (3,368) 9,401  
Net decrease in cash (10,963) (6,036)  
Cash at the beginning of the period 56,688 45,780 $ 45,780
Cash at the end of the period 45,725 39,744 $ 56,688
Supplemental Cash Flow Information:      
Cash paid for interest 546 357  
Non-cash investing and financing activities:      
Interest added to principal balance on long-term debt $ 317 376  
Issuance of common stock warrant under SVB loan   66  
Estimated fair value of contingent consideration under the royalty purchase agreements   $ 75  

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