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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:      
Net Loss $ (288,989) $ (273,551) $ (143,255)
Adjustments to reconcile net loss to net cash used in operating activities:      
Share-based compensation 40,251 18,696 11,583
Depreciation and amortization 1,765 438 243
Amortization of debt discount and issuance costs 1,486 2,084 662
Loss on extinguishment of debt 4,851 0 0
Other items (1,980) 1,235 (116)
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets 1,925 (5,055) (1,918)
Deferred tax assets 0 0 208
Income tax receivable 524 476 (895)
Other assets (10) 76 (3,065)
Accounts payable 4,315 6,441 1,249
Interest payable (1,077) 795 282
Interest payable (related party) 15 0 0
Accrued expenses (24,554) 23,349 18,287
Operating lease liabilities (882)    
Deferred revenue 40,000 0 0
Due to former majority shareholder (121) (1,839) (1,070)
Deferred rent 0 749 295
Deferred interest payable (2,273) 2,018 255
Other 3,582 0 0
Net cash used in operating activities (221,172) (224,088) (117,255)
Cash flows from investing activities:      
Purchases of marketable securities (32,076) 0 0
Maturities of marketable securities 29,240 0 0
Purchases of property and equipment (1,099) (1,236) (604)
Net cash used in investing activities (3,935) (1,236) (604)
Cash flows from financing activities:      
Proceeds from related party debt financing 113,700 0 0
Proceeds from third party debt financing, net of financing costs paid 0 53,974 43,751
Proceeds from stock option exercises 942 1,300 36
Settlement of former majority shareholder common shares subscribed 0 0 1
Payments on third party debt financings and redemption fees (105,420) 0 0
Payment of annual debt administration fee to NovaQuest (300) (300) 0
Net cash provided by financing activities 145,926 273,899 45,645
Net change in cash, cash equivalents and restricted cash (79,181) 48,575 (72,214)
Cash, cash equivalents and restricted cash, beginning of period 157,199 108,624 180,838
Cash, cash equivalents and restricted cash, end of period 78,018 157,199 108,624
Non-cash financing activities:      
Warrants issued to Hercules 0 0 789
Supplemental disclosure of cash paid:      
Income taxes 38 0 900
Interest 13,030 3,923 845
Interest (related party) 1,426 0 0
Public Equity Offering      
Cash flows from financing activities:      
Proceeds from issuance of common shares, net of issuance costs paid 134,458 74,391 0
Cowen and Company, LLC | Private Placement      
Cash flows from financing activities:      
Proceeds from issuance of common shares, net of issuance costs paid 2,546 84,052 0
Roivant Sciences, Ltd. | Private Placement      
Cash flows from financing activities:      
Proceeds from issuance of common shares, net of issuance costs paid 0 22,500 0
NovaQuest | Private Placement      
Cash flows from financing activities:      
Proceeds from issuance of common shares, net of issuance costs paid $ 0 $ 37,982 $ 1,857