Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (7,373) $ (4,758)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 2,898 1,788
Common stock contribution to 401(k) 90 88
Depreciation and amortization 2 6
Amortization of debt issuance costs, debt discount and final payment on debt 127 191
Provision for bad debt   1,409
Non-cash lease expense 39 37
Change in fair value of equity securities 672 273
Changes in assets and liabilities:    
Trade and other receivables, net 183 212
Income tax receivable 1,526 (1,526)
Prepaid expenses and other assets 225 147
Accounts payable and accrued liabilities 1,046 38
Operating lease liabilities (44) (39)
Unearned revenue recognized under units-of-revenue method (356) (304)
Other liabilities 51 158
Net cash used in operating activities (914) (2,280)
Cash flows from investing activities:    
Payments related to purchase of royalty rights (13,500)  
Net cash used in investing activities (13,500)  
Cash flows from financing activities:    
Proceeds from exercise of options 508  
Payment of preferred and common stock issuance costs (264) (166)
Principal payments - debt (2,125) (938)
Principal payments - finance lease   (5)
Proceeds from disgorgement of stockholder's short-swing profits   13
Taxes paid related to net share settlement of equity awards (119)  
Net cash used in financing activities (2,000) (1,096)
Net increase in cash and restricted cash (16,414) (3,376)
Cash and restricted cash at the beginning of the period 86,364 56,688
Cash and restricted cash at the end of the period 69,950 53,312
Supplemental Cash Flow Information:    
Cash paid for interest 120 $ 199
Non-cash investing and financing activities:    
Preferred stock dividend accrual 707  
Accrued financing costs related to issuance of common stock 87  
Accrued financing costs related to issuance of preferred stock $ 81