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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (66,347) $ (92,931)
Adjustments to reconcile net loss to net cash proceeds from (used for) operating activities:    
Depreciation and amortization 3,042 3,112
Amortization of debt issuance costs and debt discount 94 34
Non-cash operating lease cost 547 330
Stock-based compensation 10,884 10,813
(Gain) loss on derivative liability (2,367) 1,090
Allocated expenses for warrant issuance cost 2,526 0
Change in fair value of debt and liability instruments 11,961 4,197
Allowances for expected credit losses 1,186 0
Other 392 731
Changes in operating assets and liabilities:    
Accounts receivables, net 1,831 4,808
Inventory 1,496 (2,565)
Prepaid expenses and other (2,857) 1,072
Other long-term assets (30) 804
Accounts payable 2,266 11,486
Accrued Payroll (1,706) 1,779
Accrued expenses 2,463 5,525
Accrued rebates and fees 52,051 34,907
Other liabilities (593) (519)
Other long-term liabilities (24) 10
Net cash proceeds from (used for) operating activities 16,815 (15,317)
Investing activities    
Acquisition consideration paid in cash for Romeg intangible asset acquisition (450) (134)
Purchase of equity securities (2,000) 0
Purchase of convertible promissory note from Denali (30) 0
Purchase of property, plant, and equipment 0 (29)
Net cash used for investing activities (2,480) (163)
Financing activities    
Proceeds from issuance of shares under Standby Equity Purchase Agreements and ATM Sales Agreement 156 27,589
Proceeds from issuance of Convertible Debentures 0 24,000
Proceeds from issuance of Revolving Facility 93,389 52,550
Proceeds from issuance of FSF Deposit 10,000 0
Repayment of Revolving Facility (96,189) (45,272)
Repayment of Oramed Note (36,700) 0
Cash consideration paid in connection with warrant repurchase (300) 0
Transaction costs paid related to the Business Combination 0 (1,372)
Repayment of Convertible Debentures (4,375) (10,953)
Payments of debt issuance costs 0 (380)
Disbursement of funds to Sorrento 0 (20,000)
Cash consideration paid in connection with share repurchase 0 (10,000)
Transaction costs paid in connection with share repurchase 0 (1,987)
Proceeds from issuance of shares under Bought Deal Offering and Registered Direct Offering 25,000 0
Payments of Bought Deal Offering and Registered Direct Offering issuance costs (2,844) 0
Proceeds from stock options and warrants exercised and ESPP 915 1,101
Net cash (used for) proceeds from financing activities (10,948) 15,276
Net change in cash, cash equivalents and restricted cash 3,387 (204)
Cash and cash equivalents at beginning of period 4,729 2,184
Cash and cash equivalents at end of period 8,116 1,980
Supplemental disclosure of non-cash financing activity    
Issuance of shares to B.Riley pursuant to B. Riley Purchase Agreement 0 1,869
Issuance costs related to Bought Deal Offering and Registered Direct included in accrued expenses and account payables 1,430 0
Conversion of Convertible Debentures into common stock 0 7,735
Right-of-use assets obtained in exchange for operating lease liabilities with lease modification 0 2,523
Oramed Note issuance at fair value 0 106,252
Other non-cash consideration in connection with share repurchase 0 26,154
Excise tax in connection with share repurchase included in accrued expenses $ 0 $ 1,375