Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities:    
Net loss $ (43,735) $ (73,934)
Net loss on discontinued operations   (8,997)
Loss from continuing operations (43,735) (64,937)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 938 503
Bad debt expense 250  
Amortization of debt discount 1,521 1,247
Amortization of product revenue license fee 446 266
Amortization of operating lease right-of-use assets 771  
Stock-based compensation expense 6,682 7,947
Common shares issuable for 2017 Subordinated Note Financing interest expense 490 489
Common shares issued for 2017 Subordinated Note Financing interest expense 484 489
Common shares issuable for Opus interest expense 281 287
Common shares issued for Opus interest expense 60  
Change in fair value of investments   825
Change in fair value of derivative liability   (102)
Change in fair value of partner company convertible note   (110)
Gain on deconsolidation of Caelum (18,521)  
Research and development-licenses acquired, expense 650 98
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable 2,144 2,437
Inventory (54) (128)
Other receivables - related party 245 (157)
Prepaid expenses and other current assets 3,346 (740)
Other assets (961) (343)
Current assets held for sale   (5,029)
Noncurrent assets held for sale   956
Current liabilities held for sale   11,980
Accounts payable and accrued expenses (8,646) 1,442
Accounts payable and accrued expenses - related party (149) (99)
Interest payable (12) 256
Interest payable - related party (3) (3)
Lease liabilities (713)  
Other long-term liabilities 841 248
Net cash used in continuing operating activities (53,645) (42,178)
Net cash used in discontinued operating activities   (9,748)
Net cash used in operating activities (53,645) (51,926)
Cash Flows from Investing Activities:    
Purchase of research and development licenses   (75)
Purchase of property and equipment (955) (4,613)
Purchase of short-term investment (certificates of deposit) (5,000) (35,000)
Redemption of short-term investment (certificates of deposit) 17,604 36,002
Security deposits paid   (343)
Deconsolidation of Caelum (1,201)  
Net cash provided by (used in) continuing investing activities 10,448 (4,029)
Net cash provided by discontinued investing activities 13,089  
Net cash provided by (used in) investing activities 23,537 (4,029)
Cash Flows from Financing Activities:    
Payment of Preferred A dividends (1,172) (1,172)
Inter-company costs related to the issuance of Series A preferred stock   1,297
Proceeds from at-the-market offering 14,120 4,070
Proceeds from issuance of common stock under ESPP 60 128
Payment of cost related to at-the-market offering (253) (141)
Proceeds from partner companies' sale of stock 66,623 23,011
Payment of costs related to partner companies' sale of stock (5,397) (354)
Proceeds from partner companies' at-the-market offering 26,998  
Payment of costs related to partner companies' at-the-market offering (604)  
Proceeds from exercise of partner companies' warrants   181
Payment of debt issuance costs associated with 2017 Subordinated Note Financing (23) (404)
Proceeds from 2018 Venture Notes   21,707
Payment of debt issue costs associated with 2018 Venture Notes (115) (1,863)
Proceeds from partner company's Horizon Notes 15,000  
Payment of debt issuance costs associated with partner company's Horizon Notes (1,230)  
Payment of partner company's Convertible Notes   (4,076)
Net cash provided by financing activities 114,007 42,384
Net increase (decrease) in cash and cash equivalents and restricted cash 83,899 (13,571)
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 165,481 97,387
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,538 1,819
Cash paid for interest - related party 227 281
Supplemental disclosure of non-cash financing and investing activities:    
Settlement of restricted stock units into common stock 2 2
Unpaid debt offering costs 211 5
Unpaid partner company's offering cost 242  
Unpaid partner company's at-the-market offering cost 55  
Common shares issuable for license acquired 164  
Issuance of partner company warrants in conjunction with Horizon Notes 888  
Fixed assets acquired but not paid $ 183 $ 818