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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (46,383) $ (74,532)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Amortization of intangible assets 1,845 1,230
Depreciation of property and equipment 109 127
Amortization of debt discount 430 363
Non-cash interest expense 728  
Loss on extinguishment of debt 3,810 0
Stock-based compensation 3,711 2,814
Change in fair value of derivative liability   45,164
Changes in operating assets and liabilities:    
Accounts receivable and other current assets (10,681) (770)
Inventory (2,280)  
Accounts payable and accrued expenses 3,481 3,415
Right-of-use assets and operating lease liabilities 47 0
Deferred revenue (30) (505)
Deferred rent   27
Net cash used in operating activities (45,213) (22,667)
Cash flows from investing activities:    
Acquisition of Icon Bioscience Inc., net of cash acquired 0 (16,780)
Purchases of property and equipment (207) (153)
Net cash used in investing activities (207) (16,933)
Cash flows from financing activities:    
Proceeds from issuance of stock, net of issuance costs 20,755 34,471
Proceeds from exercise of warrants   28,863
Proceeds from issuance of long-term debt 50,000 20,000
Payment of debt issue costs (1,341) (1,347)
Payment of long-term debt principal (20,000)  
Payment of extinguishment of debt costs (2,716)  
Net settlement of stock units to satisfy statutory tax withholding (87)  
Proceeds from exercise of stock options 308 503
Payment of contingent development milestone (15,000)  
Net cash provided by financing activities 31,919 82,490
Effect of foreign exchange rate changes on cash and cash equivalents 0 (2)
Net (decrease) increase in cash, cash equivalents and restricted cash (13,501) 42,888
Cash, cash equivalents and restricted cash at beginning of period 45,411 13,026
Cash, cash equivalents and restricted cash at end of period 31,910 55,914
Supplemental cash flow information:    
Cash interest paid 3,574 841
Supplemental disclosure of non-cash investing and financing activities:    
Accrued development milestone   15,000
Accrued term loan exit fee $ 3,000 1,200
Fair value of second tranche purchase liability   4,734
Fair value of warrants issued with debt   355
Fair value of second tranche warrants   $ 18,165