XML 31 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash used in operating activities      
Net loss $ (126,710,000) $ (52,870,000) $ (23,009,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 2,050,000 264,000 576,000
Amortization of intangible assets 25,052,000 2,134,000 0
Stock-based compensation 4,537,000 797,000 2,330,000
Non-cash interest expense 32,954,000 2,676,000 0
Provision for inventory excess and obsolescence 18,814,000 0 0
Fair value change in contingent consideration 0 2,042,000 0
Unrealized foreign exchange (gain) loss (832,000) 118,000 (120,000)
Fair value loss on investment 0 10,704,000 0
Deferred income taxes 138,000 (214,000) 18,000
Other non-cash operating activities 83,000 50,000 (25,000)
Changes in assets and liabilities, excluding the effect of acquisition:      
Accounts receivable (12,852,000) (893,000) 10,000
Inventories 6,081,000 2,079,000 0
Prepaid expenses and other assets 19,541,000 705,000 442,000
Accounts payable (3,932,000) 4,441,000 (184,000)
Accrued and other liabilities (19,823,000) (6,389,000) 603,000
Net cash used in operating activities (54,899,000) (34,356,000) (19,359,000)
Cash (used in) provided by investing activities      
Purchase of property and equipment (754,000) (155,000) (9,000)
Cash acquired in Merger 0 28,290,000 0
Loan receivable 0 (3,000,000) 0
Net proceeds from sale of long-lived assets 0 192,000 43,000
Net cash (used in) provided by investing activities (754,000) 25,327,000 34,000
Cash provided by (used in) financing activities      
Issuance of common shares 109,000 21,481,000 5,508,000
Cash distribution to common shareholders 0 (15,000,000) 0
Settlement of Backstop Agreement 0 15,000,000 0
Aralez investment 0 (45,000,000) 0
Net cash provided by (used in) financing activities 109,000 (23,519,000) 5,508,000
Exchange rate effect on cash 2,047,000 (349,000) (267,000)
Net decrease in cash and cash equivalents (53,497,000) (32,897,000) (14,084,000)
Cash and cash equivalents, beginning of period 108,927,000 141,824,000 155,908,000
Cash and cash equivalents, end of period 55,430,000 108,927,000 141,824,000
Supplemental disclosures of cash flow information      
Cash paid for interest 6,500,000 33,000 0
Cash paid for taxes 1,671,000 105,000 0
Non-cash investing activities      
Purchases of property and equipment included in accounts payable $ 122,000 $ 61,000 $ 0