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
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net loss $ (15,439) $ (19,670)
Adjustments to reconcile net loss to net cash (used in) operating activities:    
Depreciation and amortization 1,428 1,242
Right-of-use asset (accretion) amortization (5) (48)
Stock-based compensation 2,479 2,525
Realized investment gains 40 0
Other non-cash transactions 214 (14)
Changes in operating assets and liabilities (26,938) 33,733
Net cash (used in) operating activities (38,221) 17,768
Investing activities:    
Purchases of property and equipment (1,018) (257)
Proceeds from maturity of investments 4,850 0
Purchases of investments (31,645) 0
Net cash (used in) investing activities (27,813) (257)
Financing activities:    
Proceeds from exercise of stock options 95 292
Proceeds from exercise of warrants 0 837
Proceeds from employee stock purchase plan 104 96
Proceeds from issuance of common stock from private placement, net of issuance costs 0 18,913
Proceeds from issuance of common stock resulting from ATM sales, net of $0.3 million in transaction costs 6,640 12,172
Net cash provided by financing activities 6,839 32,310
Effect of exchange rate change on cash and cash equivalents (4,312) (1,160)
Net decrease in cash and cash equivalents (63,507) 48,661
Cash and cash equivalents at beginning of period 117,764 70,436
Cash and cash equivalents at end of period 54,257 119,097
Supplemental cash flow disclosures:    
Net unrealized gain on investments 152 0
Property and equipment included in accounts payable $ 15 $ 0