Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (16,435) $ (14,410)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Allowance for doubtful accounts (117) 202
Depreciation and amortization 244 159
Share-based compensation 4,126 2,078
Payment-in-kind interest 0 325
Amortization of debt issuance costs and original issue discounts 55 100
Amortization of lease right of use assets, net of accretion in lease liabilities 533 533
Accretion of discounts on short-term investments (284) 0
Increase (decrease) in cash resulting from changes in:    
Accounts receivable (211) (658)
Inventory, net (4,421) (1,714)
Prepaid expenses and other current assets (1,216) (264)
Other assets (6) (66)
Accounts payable and accrued expenses 1,591 1,285
Lease liability (541) (432)
Deferred revenue 515 165
Net cash flows from operating activities (16,167) (12,697)
Cash flows from investing activities:    
Purchases of property and equipment (253) (168)
Acquisition of licensing rights (893) 0
Purchase of short-term investments (21,590) 0
Proceeds from maturities of short-term investments 12,000 0
Net cash flows from investing activities (10,736) (168)
Cash flows from financing activities:    
Proceeds from public offering of common stock, net of offering costs 0 46,785
Proceeds from stock option and warrant exercises 268 465
Proceeds from issuance of common stock under employee stock purchase plan 477 224
Payments for taxes related to net share settlement of equity awards (336) (599)
Net cash flows from financing activities 409 46,875
Net change in cash and cash equivalents (26,494) 34,010
Cash and cash equivalents, beginning of year 54,109 20,099
Cash and cash equivalents, end of year 27,615 54,109
Cash paid for:    
Income taxes 0 0
Interest $ 523 $ 597