Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net loss $ (24,068) $ (16,255)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 527 481
Amortization of debt discount 747 622
Non cash interest expense 150 0
Amortization of product revenue license fee 355 234
Amortization of operating lease right-of-use assets 403 381
Stock-based compensation expense 3,400 3,309
Common shares issuable for Opus interest expense 155 281
Common shares issuable for 2017 Subordinated Note Financing interest expense 506 484
Change in fair value of derivative liability 42 0
Gain on deconsolidation of Caelum 0 (18,384)
Research and development-licenses acquired, expense 250 450
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable (2,271) (2,524)
Inventory 88 49
Other receivables - related party (888) (34)
Prepaid expenses and other current assets (393) 2,483
Other assets (195) (949)
Accounts payable and accrued expenses 612 (3,664)
Accounts payable and accrued expenses - related party (13) 133
Interest payable (39) 21
Interest payable - related party 39 0
Lease liabilities (54) (351)
Other long-term liabilities (47) 888
Net cash used in operating activities (21,892) (25,325)
Cash Flows from Investing Activities:    
Purchase of property and equipment (526) (300)
Purchase of intangible assets (1,250) 0
Redemption of short-term investment (certificates of deposit) 0 12,560
Deconsolidation of Caelum 0 (1,201)
Net cash provided by (used in) continuing investing activities (1,776) 11,059
Net cash provided by discontinued investing activities 0 13,089
Net cash provided by (used in) investing activities (1,776) 24,148
Cash Flows from Financing Activities:    
Payment of Preferred A dividends (1,207) (586)
Purchase of treasury stock (70) 0
Payment of costs related to purchase of treasury stock (2) 0
Proceeds from issuance of Series A preferred stock (14,375) 0
Payment of costs related to the issuance of Series A preferred stock (1,213) 0
Proceeds from at-the-market offering 6,068 6,251
Payment of cost related to at-the-market offering (188) (109)
Proceeds from partner company's ESPP 169 0
Proceeds from partner company's sale of stock 0 34,999
Payment of costs related to partner company's sale of stock (69) (3,500)
Proceeds from partner company's at-the-market offering 4,997 366
Payment of costs related to partner company's at-the-market offering (87) (11)
Proceeds from exercise of partner company's warrants 13 0
Payment of debt issue costs associated with 2017 Subordinated Note Financing (26) 0
Payment of debt issue costs associated with 2018 Venture Notes (7) (67)
Proceeds from partner company's Horizon Notes 0 15,000
Payment of debt issuance costs associated with partner company's Horizon Notes 0 (230)
Net cash provided by financing activities 22,753 52,113
Net (decrease) increase in cash and cash equivalents and restricted cash (915) 50,936
Cash and cash equivalents and restricted cash at beginning of period 153,432 81,582
Cash and cash equivalents and restricted cash at end of period 152,517 132,518
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,609 1,100
Supplemental disclosure of non-cash financing and investing activities:    
Settlement of restricted stock units into common stock 2 2
Unpaid debt offering costs 8 1,202
Common shares issuable for license acquired 0 164
Common shares issued for 2017 Subordinated Note Financing interest expense 500 495
Issuance of partner company warrants in conjunction with Horizon Notes 0 888
Unpaid fixed assets 540 191
Unpaid at-the-market offering cost 6 0
Unpaid Preferred A offering cost 98 0
Unpaid research and development licenses acquired $ 350 $ 250