Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:    
Net loss $ (141,936) $ (99,836)
Less: Net loss on discontinued operations 13,469 2,323
Gain from disposal of National (2,333) 0
Loss from continuing operations 130,800 97,513
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 1,393 726
Amortization of debt discount 2,419 3,141
Amortization of product revenue license fee 666 534
Stock-based compensation expense 15,012 13,403
Issuance of common stock for research and development expenses 0 200
Issuance of common stock for research and development-licenses acquired expense 276 0
Issuance of subsidiaries' common shares for research and development expenses 0 50
Common shares issued for Opus interest expense 859 0
Change in fair value of investments 1,390 (226)
Change in fair value of derivative liabilities 682 368
Change in fair value of subsidiary convertible note (437) 457
Loss on write off of investment 0 250
Research and development-licenses acquired, expense 3,774 4,164
Change in fair value of subsidiaries' assets and liabilities 0 104
Common shares issuable for interest expense 495 500
Common shares issued for interest expense 1,472 541
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable 2,260 (5,928)
Inventory (507) 32
Other receivables – related party (1,477) 1,172
Prepaid expenses and other current assets (3) (4,011)
Other assets (17) 0
Accounts payable and accrued expenses 4,686 10,651
Accounts payable and accrued expenses – related party (23) 172
Interest payable 917 176
Interest payable – related party (572) 602
Current assets held for sale 0 3,189
Noncurrent assets held for sale 0 (620)
Current liabilities held for sale 0 (9,008)
Other long-term liabilities 472 (284)
Net cash used in continuing operating activities (97,063) (77,158)
Net cash used in discontinued operating activities (1,785) (4,147)
Net cash used in operating activities (98,848) (81,305)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (1,074) (3,365)
Purchase of property and equipment (7,082) (648)
Purchase of short-term investment (certificates of deposit) (52,604) (56,091)
Redemption of short-term investment (certificates of deposit) 71,002 20,089
Security deposits paid (1) (251)
Security deposits refund 0 42
Acquisition of intangible assets - Journey (1,200) 0
Net cash provided by (used in) continuing investing activities 9,041 (40,224)
Net cash provided by discontinued investing activities 9,783 0
Net cash provided by (used in) investing activities 18,824 (40,224)
Cash Flows from Financing Activities:    
Proceeds from issuance of Series A preferred stock 154 25,000
Payment of costs related to the issuance of Series A preferred stock 0 (2,804)
Payment of Preferred A dividends (2,344) (299)
Proceeds from at-the-market offering 7,274 0
Payment of cost related to at-the-market offering (257) 0
Proceeds from partner company's public offering 23,011 95,117
Payment of costs related partner company's public offering (343) 0
Proceeds from partner company's at-the-market offering 7,981 0
Payment of costs related to partner company's at-the-market offering (234) 0
Proceeds from exercise of partner companies' warrants 181 0
Proceeds from exercise of stock options 0 27
Proceeds from issuance of common stock under ESPP 198 191
Proceeds from 2017 Subordinated Note Financing 0 28,355
Payment of debt issuance costs associated with 2017 Subordinated Note Financing 0 (81)
Proceeds from Opus Credit Facility 0 2,500
Proceeds from 2018 Venture Notes 21,707 0
Payment of debt issue costs associated with 2018 Venture Notes (1,868) 0
Payment of NSC Note 0 (3,608)
Payment of debt issue costs (404) 0
Proceeds from partner company's Convertible Note 0 9,914
Payment of debt issuance costs associated with partner companies' Convertible Note 0 (104)
Payment of partner companies' Convertible Note (4,408) 0
Net cash provided by continuing financing activities 50,648 154,208
Net cash used in discontinued financing activities 0 (3,827)
Net cash provided by financing activities 50,648 150,381
Net decrease in cash and cash equivalents and restricted cash (29,376) 28,852
Cash and cash equivalents and restricted cash at beginning of period 110,958 82,106
Cash and cash equivalents and restricted cash at end of period 81,582 110,958
Supplemental disclosure of cash flow information:    
Cash paid for interest 4,448 207
Cash paid for interest - related party 281 571
Supplemental disclosure of non-cash financing and investing activities:    
Settlement of restricted stock units into common stock 3 2
Issuance of warrants by partner companies' in conjunction with NSC debt 0 750
Issuance of partner companies'' common shares for settlement 0 2,062
Debt discount related to Opus Credit Facility 0 201
Unpaid debt offering cost 0 58
Conversion of partner company's notes payable 0 314
Common shares issuable for license acquired 0 1,682
Common shares issued for 2017 Subordinated Note Financing interest expense 500 0
Receivables of contribution of capital for 2017 bonuses 1,000 0
Unpaid fixed assets 196 982
Unpaid research and development licenses acquired $ 2,700 $ 755