Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (50,457) $ (52,531)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 1,212 1,103
Bad debt (reserve) expense (57) 76
Amortization of debt discount 903 1,407
Non-cash interest 441 305
Amortization of product revenue license fee 1,325 710
Amortization of operating lease right-of-use assets 837 804
Stock-based compensation expense 8,123 7,148
Issuance of partner company's common shares for research and development expenses 129 21
Common shares issuable for dividend on partner company's convertible preferred shares 263 0
Common shares issuable for 2017 Subordinated Note Financing interest expense 0 500
Common shares issued for 2017 Subordinated Note Financing interest expense 0 506
Common shares issuable for 2019 Notes interest expense 0 313
Change in fair value of investment (30,918) 0
Change in fair value of derivative liability 3,925 386
Research and development-licenses acquired, expense 11,000 1,799
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable (2,208) 2,290
Inventory (12,911) (352)
Other receivables - related party (98) (71)
Prepaid expenses and other current assets 2,795 930
Other assets (113) (192)
Accounts payable and accrued expenses 5,834 (3,882)
Interest payable 0 51
Interest payable - related party 0 (40)
Deferred revenue 4,800 0
Lease liabilities (880) (492)
Other long-term liabilities (93) (93)
Net cash used in operating activities (56,148) (39,304)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (2,750) (1,090)
Purchase of property and equipment (2,148) (1,749)
Purchase of intangible asset (400) 0
Net cash used in investing activities (5,298) (2,839)
Cash Flows from Financing Activities:    
Payment of Series A perpetual preferred stock dividends (4,015) (2,788)
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 25,875
Payment of costs related to issuance of Series A perpetual preferred stock 0 (2,283)
Proceeds from issuance of common stock for at-the-market offering 0 23,026
Payment of costs related to issuance of common stock for at-the-market offering 0 (793)
Proceeds from issuance of common stock under ESPP 137 90
Proceeds from partner companies' ESPP 158 169
Partner company's dividends declared and paid (375) 0
Proceeds from partner companies' sale of stock 0 37,230
Payment of costs related to partner companies' sale of stock 0 (2,303)
Proceeds from partner companies' at-the-market offering 99,384 10,689
Payment of costs related to partner companies' at-the-market offering (2,136) (242)
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 installment payments - licenses (2,800) 0
Proceeds from partner company convertible preferred shares 14,332 0
Payment of debt issuance costs associated with partner company convertible preferred shares (1,532) 0
Net cash provided by financing activities 103,087 88,563
Net increase in cash and cash equivalents and restricted cash 41,641 46,420
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 276,637 199,852
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,339 3,165
Cash paid for tax 504 0
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 298 127
Unpaid debt offering cost 0 61
Unpaid partner company's debt offering cost 200 0
Unpaid partner company's deferred offering cost 75 72
Partner company derivative warrant liability associated with partner company convertible preferred shares 362 0
Unpaid at-the-market offering cost 0 156
Unpaid Series A perpetual preferred stock offering cost 0 92
Unpaid research and development licenses acquired 8,250 1,300
Lease liabilities arising from obtaining right-of-use assets 81 0
2017 Subordinated Note Financing [Member]    
Cash Flows from Financing Activities:    
Payment of debt issuance costs 0 (26)
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 (60) 0
2018 Venture Notes [Member]    
Cash Flows from Financing Activities:    
Payment of debt issuance costs $ 0 $ (22)