Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities:    
Net loss $ (101,660) $ (141,936)
Net loss on discontinued operations 0 (13,469)
Gain from disposal of National 0 2,333
Loss from continuing operations (101,660) (130,800)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 1,922 1,393
Bad debt expense 100 0
Amortization of debt discount 3,321 2,419
Amortization of product revenue license fee 1,174 666
Amortization of operating lease right-of-use assets 1,558 0
Stock-based compensation expense 13,188 15,012
Issuance of common stock for research and development-licenses acquired expense 0 276
Issuance of partner company's common shares for research and development expenses 90 0
Common shares issuable for 2017 Subordinated Note Financing interest expense 500 495
Common shares issued for 2017 Subordinated Note Financing interest expense 1,474 1,472
Common shares issuable for Opus interest expense 281 0
Common shares issued for Opus interest expense 381 859
Change in fair value of investments 0 1,390
Change in fair value of derivative liability 27 682
Change in fair value of partner company convertible note 0 (437)
Gain on deconsolidation of Caelum (18,476) 0
Research and development-licenses acquired, expense 6,000 3,774
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable (8,141) 2,260
Inventory (179) (507)
Other receivables - related party 1,230 (1,477)
Prepaid expenses and other current assets 1,798 (3)
Other assets (882) (17)
Accounts payable and accrued expenses 2,095 4,686
Accounts payable and accrued expenses - related party (149) (23)
Interest payable 8 917
Interest payable - related party (5) (572)
Lease liabilities (1,365) 0
Other long-term liabilities 749 472
Net cash used in continuing operating activities (94,961) (97,063)
Net cash used in discontinued operating activities 0 (1,785)
Net cash used in operating activities (94,961) (98,848)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (4,650) (1,074)
Purchase of property and equipment (2,345) (7,082)
Acquisition of intangible assets - Journey (2,400) (1,200)
Purchase of short-term investment (certificates of deposit) (5,000) (52,604)
Redemption of short-term investment (certificates of deposit) 22,604 71,002
Security deposits paid 0 (1)
Deconsolidation of Caelum (1,201) 0
Net cash provided by continuing investing activities 7,008 9,041
Net cash provided by discontinued investing activities 13,089 9,783
Net cash provided by investing activities 20,097 18,824
Cash Flows from Financing Activities:    
Payment of Preferred A dividends (2,559) (2,344)
Proceeds from issuance of Series A preferred stock 6,038 154
Payment of costs related to the issuance of Series A preferred stock (578) 0
Proceeds from issuance of Series A preferred stock for at-the-market offering 812 0
Payment of cost related to issuance of Series A preferred stock for at-the-market offering (24) 0
Proceeds from issuance of common stock for at-the-market offering 20,680 7,274
Payment of cost related to issuance of common stock for at-the-market offering (427) (257)
Proceeds from issuance of common stock under ESPP 123 198
Proceeds from partner company's sale of stock 86,180 23,011
Payment of costs related to partner company's sale of stock (6,671) (343)
Proceeds from partner company's at-the-market offering 30,526 7,981
Payment of costs related to partner company's at-the-market offering (741) (234)
Proceeds from exercise of partner company's warrants 0 181
Payment of debt issuance costs associated with 2017 Subordinated Note Financing (118) (404)
Proceeds from 2018 Venture Notes 0 21,707
Payment of debt issuance costs associated with 2018 Venture Notes (134) (1,868)
Proceeds from partner company's Horizon Notes 15,000 0
Payment of debt issuance costs associated with partner company's Horizon Notes (1,393) 0
Payment of partner company's Convertible Notes 0 (4,408)
Net cash provided by continuing financing activities 146,714 50,648
Net cash provided by discontinued financing activities 0 0
Net cash provided by financing activities 146,714 50,648
Net increase (decrease) in cash and cash equivalents and restricted cash 71,850 (29,376)
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 153,432 81,582
Supplemental disclosure of cash flow information:    
Cash paid for interest 5,444 4,448
Cash paid for interest - related party 456 281
Supplemental disclosure of non-cash financing and investing activities:    
Settlement of restricted stock units into common stock 2 3
Common shares issuable for license acquired 164 0
Issuance of partner company warrants in conjunction with Horizon Notes 888 0
Common shares issued for 2017 Subordinated Note Financing interest expense 0 500
Common shares issued for Opus debt 500 0
Receivables of contribution of capital for 2017 bonuses 0 1,000
Unpaid fixed assets 187 196
Unpaid research and development licenses acquired 1,350 2,700
Unpaid debt offering cost 26 0
Unpaid at-the-market offering cost 6 0
Unpaid Preferred A offering cost 153 0
Unpaid partner company's offering cost 69 0
Partner company's previous paid offering cost 833 0
Partner company's unpaid intangible assets $ 4,734 $ 0