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Combined Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities      
Net loss   $ (157,125) $ (804)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   2  
Stock-based compensation   66  
Amortization of debt discount   243  
Acquired in-process research and development   78,897  
Change in fair value of warrant liabilities (includes related party amounts of $59,031 and $0, respectively) $ 57,776 59,060  
Change in fair value of convertible promissory notes (includes related party amounts of $1,053 and $22, respectively)   4,928 22
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (includes related party amounts of $17, and $8, respectively)   (3,147) (36)
Accounts payable and accrued expenses (includes related party amounts of $186, and $32, respectively)   1,603 89
Accrued interest (includes related party amounts of $483 and $13, respectively)   2,347 8
Net cash used in operating activities   (13,126) (721)
Cash flows from investing activities      
Cash paid for purchased in-process research and development   (25,118)  
Cash paid for property, plant and equipment   (26)  
Net cash used in investing activities   (25,144)  
Cash flows from financing activities      
Proceeds from issuance of common stock     2
Proceeds from issuance of convertible promissory notes   88,324 850
Net proceeds from issuance of long-term debt   24,850  
Issuance costs associated with Initial Public Offering (IPO)   (1,299)  
Net cash provided by financing activities   111,875 852
Net increase in cash   73,605 131
Cash and cash equivalents – beginning of period   879  
Cash and cash equivalents – end of period $ 74,484 74,484 $ 131
Supplemental disclosure of cash flow information      
Interest paid   549  
Supplemental disclosure of noncash investing and financing activities      
Exchange of accrued interest for convertible promissory notes   27  
Issuance of common stock warrants in connection with long-term debt   419  
Unpaid initial public offering costs   714  
Final interest payment fee   2,063  
Takeda License      
Supplemental disclosure of noncash investing and financing activities      
Issuance of Takeda Warrants in connection with Takeda License   47,894  
Issuance of common stock in connection with Takeda License   $ 5,885