Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash Flows from Operating Activities:          
Net loss $ (28,463,000) $ (27,480,000) $ (52,531,000) $ (43,735,000)  
Reconciliation of net loss to net cash used in operating activities:          
Depreciation expense 600,000 500,000 1,103,000 938,000  
Bad debt expense     76,000 250,000  
Amortization of debt discount     1,407,000 1,521,000  
Non cash interest     305,000    
Amortization of product revenue license fee     710,000 446,000  
Amortization of operating lease right-of-use assets     804,000 771,000  
Stock-based compensation expense     7,148,000 6,682,000  
Issuance of common stock for research and development expenses     21,000    
Common shares issued for 2017 Subordinated Note Financing interest expense     506,000 484,000  
Common shares issuable for 2019 Notes interest expense     313,000 281,000  
Common shares issued for 2019 Notes interest expense       60,000  
Common shares issuable for 2017 Subordinated Note Financing interest expense     500,000 490,000  
Change in fair value of derivative liability     386,000    
Gain on deconsolidation of Caelum       (18,521,000)  
Research and development-licenses acquired, expense     1,799,000 650,000  
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:          
Accounts receivable     2,290,000 2,144,000  
Inventory     (352,000) (54,000)  
Other receivables - related party     (71,000) 245,000  
Prepaid expenses and other current assets     930,000 3,346,000  
Other assets     (192,000) (961,000)  
Accounts payable and accrued expenses     3,882,000 8,646,000  
Accounts payable and accrued expenses - related party       149,000  
Interest payable     (51,000) 12,000  
Interest payable - related party     40,000 3,000  
Lease liabilities     (492,000) (713,000)  
Other long-term liabilities     (93,000) 841,000  
Net cash used in operating activities     (39,304,000) (53,645,000)  
Cash Flows from Investing Activities:          
Purchase of property and equipment     (1,090,000) (955,000)  
Purchase of research and development licenses     (1,749,000)    
Purchase of short-term investment (certificates of deposit)       (5,000,000)  
Redemption of short-term investment (certificates of deposit)       17,604,000  
Deconsolidation of Caelum       (1,201,000)  
Net cash provided by (used in) continuing investing activities     (2,839,000) 10,448,000  
Net cash provided by discontinued investing activities     0 13,089,000 $ 0
Net cash provided by (used in) investing activities     (2,839,000) 23,537,000  
Cash Flows from Financing Activities:          
Payment of Preferred A dividends     (2,788,000) (1,172,000)  
Purchase of treasury stock     (70,000)    
Payment of costs related to purchase of treasury stock     (2,000)    
Proceeds from issuance of Series A preferred stock     (25,875,000)    
Payment of costs related to the issuance of Series A preferred stock     (2,283,000)    
Proceeds from issuance of common stock for at-the-market offering     23,026,000 14,120,000  
Payment of cost related to issuance of common stock for at-the-market offering     (793,000) (253,000)  
Proceeds from issuance of common stock under ESPP     90,000 60,000  
Proceeds from partner companies' ESPP     169,000    
Proceeds from partner company's sale of stock     37,230,000 66,623,000  
Payment of costs related to partner companies' sale of stock     (2,303,000) (5,397,000)  
Proceeds from partner company's at-the-market offering     10,689,000 26,998,000  
Payment of costs related to partner company's at-the-market offering     (242,000) (604,000)  
Proceeds from exercise of partner company's warrants     13,000    
Payment of debt issue costs associated with 2017 Subordinated Note Financing     (26,000) (23,000)  
Payment of debt issue costs associated with 2018 Venture Notes     (22,000) (115,000)  
Proceeds from partner company's Horizon Notes       15,000,000  
Payment of debt issuance costs associated with partner company's Horizon Notes       (1,230,000)  
Net cash provided by financing activities     88,563,000 114,007,000  
Net (decrease) increase in cash and cash equivalents and restricted cash     46,420,000 83,899,000  
Cash and cash equivalents and restricted cash at beginning of period     153,432,000 81,582,000 81,582,000
Cash and cash equivalents and restricted cash at end of period $ 199,852,000 $ 165,481,000 199,852,000 165,481,000 $ 153,432,000
Supplemental disclosure of cash flow information:          
Cash paid for interest     3,165,000 2,538,000  
Cash paid for interest - related party       227,000  
Supplemental disclosure of non-cash financing and investing activities:          
Settlement of restricted stock units into common stock     2,000 2,000  
Common shares issuable for license acquired       164,000  
Common shares issued for 2017 Subordinated Note Financing interest expense     500,000    
Issuance of partner company warrants in conjunction with Horizon Notes       888,000  
Unpaid fixed assets     127,000 183,000  
Unpaid debt offering costs     61,000 211,000  
Unpaid at-the-market offering cost     156,000    
Unpaid partner company's offering cost     72,000 242,000  
Unpaid partner company's at-the-market offering cost       $ 55,000  
Unpaid Preferred A offering cost     92,000    
Unpaid research and development licenses acquired     $ 1,300,000