Cash Flow

v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss     $ (25,601) $ (47,214)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation $ 500 $ 400 1,584 1,046  
Operating lease right-of-use-assets amortization 100 100 261 245  
Provision for doubtful accounts     25 266  
Stock-based compensation     3,044 22,154  
Loss on disposal of property and equipment     64    
Changes in operating assets and liabilities:          
Accounts receivable     286 (242)  
Inventories     78 (1,774)  
Prepaid expenses and other assets     1,437 438  
Accounts payable     (633) (121)  
Accrued expenses     1,678 1,577  
Deferred revenue     (876) 234  
Other liabilities     (237) (210)  
Net cash used in operating activities     (18,890) (23,601) $ (33,200)
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchases of available-for-sale securities       (36,461)  
Proceeds from maturities of available-for-sale securities     16,000 10,697  
Purchases of property and equipment     (72) (220)  
Net cash provided by (used in) investing activities     15,928 (25,984)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuance of common stock and warrants, net of placement agent fees of $2,113     19,887    
Proceeds from issuance of common stock in connection with the exercise of warrants     827    
Proceeds from issuance of common stock in connection with the employee stock purchase plan     27 37  
Proceeds from promissory note     2,000    
Payments on equipment financing     (218) (255)  
Payments of offering costs related to the issuance of common stock and warrants     (499)    
Net cash provided by (used in) financing activities     22,024 (218)  
NET CHANGE IN CASH AND CASH EQUIVALENTS     19,062 (49,803)  
CASH AND CASH EQUIVALENTS, beginning of period     14,584 64,315 64,315
CASH AND CASH EQUIVALENTS, end of period 33,646 $ 14,512 33,646 14,512 $ 14,584
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:          
Unpaid offering costs $ 281   281    
Transfer from inventories to property and equipment for lasers     107 1,299  
Unpaid property and equipment included in equipment financing       156  
SUPPLEMENTAL CASH FLOW INFORMATION:          
Cash payments for interest     $ 23 39  
Cash payments for taxes       $ 24  

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