XML 23 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities:      
Net loss $ (224,338) $ (198,607) $ (117,500)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 165 233 163
Amortization of deferred debt costs and debt discount 1,342 6,921 4,566
Accretion of back-end facility fee 106 0 0
Loss on disposal of property and equipment 46 0 0
Stock-based compensation expense 22,715 12,575 9,724
Interest expense — Payment-in-kind (PIK) 3,212 0 0
Value of common stock issued for patent license 0 0 67
Accretion of discount/premium on available for sale securities 0 0 (109)
Change in fair value of derivative instruments—warrants (4,340) (106) 394
Common stock issued for interest on Notes 2,445 0
Debt conversion expense 1,209 40,158 0
Changes in operating assets and liabilities:      
Accounts receivable (6,491) 0 0
Inventories (11,574) (5,640) 0
Security deposits 31 0 (180)
Accounts payable and accrued expenses 8,669 11,546 1,867
Prepaid expenses and other current assets (3,580) 2,416 531
Accrued interest expense on senior convertible notes (61) (1,694) (512)
Total Adjustments 11,449 68,854 16,511
Net Cash used in Operating Activities (212,889) (129,753) (100,989)
Cash Flows From Investing Activities:      
Net sales (purchases) of available-for-sale securities 0 50,097 (200)
Additions to property and equipment (210) (297) (50)
Net Cash (used in) provided by Investing Activities (210) 49,800 (250)
Cash Flows From Financing Activities:      
Proceeds of sale of common stock, net of issuance costs 173,802 89,845 14,268
Proceeds from borrowings, net of issuance costs 95,140 0 0
Fees and expenses — note conversions 0 (711) 0
Payment for deferred financing costs (1,591) 0 0
Proceeds from exercise of warrants 0 11,331 1,012
Proceeds from exercise of stock options 347 222 1,142
Net Cash provided by Financing Activities 267,698 100,687 16,422
Net increase (decrease) in cash and cash equivalents 54,599 20,734 (84,817)
Cash and cash equivalents at beginning of period 82,387 61,653 146,470
Cash and cash equivalents at end of period 136,986 82,387 61,653
Supplementary disclosure of cash flow information:      
Cash paid for interest on senior convertible notes 1,396 5,939 13,379
Cash paid for taxes 20 45 258
Supplementary disclosure of non-cash investing and financing activities:      
Conversion of senior convertible notes to Synergy Common Stock 4,912 137,941 40,989
Amount added to principal of term loan for Payment-in-kind (PIK) interest 3,212 0 0
Non-cash tenant improvement allowance 587 0 0
Fair value of warrants classified to derivative liability $ 21,706 $ 0 $ 0