Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net loss $ (68,705) $ (102,521)
Net loss on discontinued operations   6,354
Loss from continuing operations 68,705 96,167
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 1,414 892
Bad debt expense 250  
Amortization of debt discount 2,459 1,819
Amortization of product revenue license fee 820 433
Amortization of operating lease right-of-use assets 1,150  
Stock-based compensation expense 10,423 12,053
Common shares issuable for 2017 Subordinated Note Financing interest expense 500 495
Common shares issued for 2017 Subordinated Note Financing interest expense 974 978
Common shares issuable for Opus interest expense 281  
Common shares issued for Opus interest expense 225 574
Change in fair value of investments   1,390
Change in fair value of derivative liability   (114)
Change in fair value of partner company convertible note   (26)
Gain on deconsolidation of Caelum (18,521)  
Research and development-licenses acquired, expense 1,350 3,804
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable 111 2,327
Inventory (263) (503)
Other receivables - related party 852 204
Prepaid expenses and other current assets 1,812 (1,428)
Other assets (903) 200
Current assets held for sale   (9,451)
Noncurrent assets held for sale   1,274
Current liabilities held for sale   12,561
Accounts payable and accrued expenses (3,841) (407)
Accounts payable and accrued expenses - related party (149) (19)
Interest payable 5 (274)
Interest payable - related party (8) (3)
Lease liabilities (940)  
Other long-term liabilities 795 222
Net cash used in continuing operating activities (69,909) (69,166)
Net cash used in discontinued operating activities   (7,522)
Net cash used in operating activities (69,909) (76,688)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (850) (1,075)
Purchase of property and equipment (1,455) (6,743)
Purchase of intangible asset (2,400)  
Purchase of short-term investment (certificates of deposit) (5,000) (47,538)
Redemption of short-term investment (certificates of deposit) 17,604 61,002
Security deposits paid   (344)
Deconsolidation of Caelum (1,201)  
Net cash provided by continuing investing activities 6,698 5,302
Net cash provided by discontinued investing activities 13,089  
Net cash provided by investing activities 19,787 5,302
Cash Flows from Financing Activities:    
Payment of Preferred A dividends (1,773) (1,758)
Inter-company costs related to the issuance of Series A preferred stock   1,297
Proceeds from issuance of common stock under ESPP 60 128
Proceeds from issuance of common stock for at-the-market offering 16,099 6,959
Payment of cost related to issuance of common stock for at-the-market offering 301 240
Proceeds from issuance of Series A preferred stock for at-the-market offering 539  
Payment of cost related to issuance of Series A preferred stock for at-the-market offering (16)  
Proceeds from partner company's sale of stock 66,623 23,011
Payment of costs related to partner company's sale of stock (4,754) (343)
Proceeds from partner company's at-the-market offering 30,419 7,980
Payment of costs related to partner company's at-the-market offering (739) (234)
Proceeds from exercise of partner company's warrants   181
Payment of debt issuance costs associated with 2017 Subordinated Note Financing (79) (404)
Proceeds from 2018 Venture Notes   21,707
Payment of debt issuance costs associated with 2018 Venture Notes (126) (1,868)
Proceeds from partner company's Horizon Notes 15,000  
Payment of debt issuance costs associated with partner company's Horizon Notes (1,393)  
Payment of partner company's Convertible Notes   (4,076)
Net cash provided by financing activities 119,559 52,340
Net increase (decrease) in cash and cash equivalents and restricted cash 69,437 (19,046)
Cash and cash equivalents and restricted cash at beginning of period 81,582 110,958
Cash and cash equivalents and restricted cash at end of period 151,019 91,912
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,976 3,767
Cash paid for interest - related party 342 281
Supplemental disclosure of non-cash financing and investing activities:    
Settlement of restricted stock units into common stock 2 2
Unpaid partner company's at-the-market offering cost   20
Common shares issuable for license acquired 164  
Issuance of partner company warrants in conjunction with Horizon Notes 888  
Common shares issued for 2017 Subordinated Note Financing interest expense   500
Common shares issued for Opus debt, a related party 500  
Unpaid fixed assets 288 125
Partner company's previous paid offering cost 833  
Partner company's unpaid intangible assets $ 4,734 $ 1,200