Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (26,066) $ (24,068)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 603 527
Bad debt expense 70 0
Amortization of debt discount 309 747
Non-cash interest 221 150
Amortization of product revenue license fee 584 355
Amortization of operating lease right-of-use assets 415 403
Stock-based compensation expense 3,773 3,400
Issuance of partner company's common shares for research and development expenses 126 0
Common shares issuable for 2017 Subordinated Note Financing interest expense 0 506
Common shares issuable for 2019 Notes interest expense 0 155
Change in fair value of derivative liability 0 42
Change in fair value of investment (5,913) 0
Research and development-licenses acquired, expense 0 250
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable (160) (2,271)
Inventory (887) 88
Other receivables - related party (105) (888)
Prepaid expenses and other current assets 1,206 (393)
Other assets (108) (195)
Accounts payable and accrued expenses (2,457) (612)
Accounts payable and accrued expenses - related party 0 13
Interest payable 0 39
Interest payable - related party 0 (39)
Deferred revenue 7,200 0
Lease liabilities (453) (54)
Other long-term liabilities (46) (47)
Net cash used in operating activities (21,688) (21,892)
Cash Flows from Investing Activities:    
Purchase of research and development licenses 0 (1,250)
Purchase of property and equipment (458) (526)
Net cash used in investing activities (458) (1,776)
Cash Flows from Financing Activities:    
Payment of Series A perpetual preferred stock dividends (2,007) (1,207)
Purchase of treasury stock 0 (70)
Payment of costs related to purchase of treasury stock 0 (2)
Proceeds from issuance of Series A perpetual preferred stock 0 14,375
Payment of costs related to issuance of Series A perpetual preferred stock 0 (1,213)
Proceeds from issuance of common stock for at-the-market offering 0 6,068
Payment of costs related to issuance of common stock for at-the-market offering 0 (188)
Proceeds from partner companies' ESPP 158 169
Partner company's dividends declared and paid (187) 0
Payment of costs related to partner companies' sale of stock 0 (69)
Proceeds from partner companies' at-the-market offering 72,947 4,997
Payment of costs related to partner companies' at-the-market offering (1,584) (87)
Payment of costs related to partner company's preferred stock offering (13) 0
Proceeds from exercise of partner company's warrants 0 13
Proceeds from exercise of partner company's options 7 0
Repayment of partner company note payable (1,800) 0
Proceeds from partner company convertible preferred shares 12,537 0
Payment of debt issuance costs associated with partner company convertible preferred shares (1,353) 0
Net cash provided by financing activities 78,692 22,753
Net increase (decrease) in cash and cash equivalents and restricted cash 56,546 (915)
Cash and cash equivalents and restricted cash at beginning of period 234,996 153,432
Cash and cash equivalents and restricted cash at end of period 291,542 152,517
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,670 1,609
Supplemental disclosure of non-cash financing and investing activities:    
Settlement of restricted stock units into common stock 2 2
Common shares issued from 2017 Subordinated Note Financing interest expense 0 500
Unpaid fixed assets 545 540
Partner company's unpaid intangible assets 400 0
Unpaid debt offering cost 0 8
Unpaid partner company's offering cost 135 0
Partner company derivative warrant liability associated with partner company convertible preferred shares 362 0
Unpaid at-the-market offering cost 0 6
Unpaid partner company's at-the-market offering cost 25 0
Unpaid Series A perpetual preferred stock offering cost 0 98
Unpaid research and development licenses acquired 0 350
Oaktree Note [Member]    
Reconciliation of net loss to net cash used in operating activities:    
Amortization of debt discount 4,400  
Cash Flows from Financing Activities:    
Payment of debt issuance costs (13) 0
2018 Venture Notes [Member]    
Cash Flows from Financing Activities:    
Payment of debt issuance costs $ 0 $ (7)