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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net loss $ (429,138) $ (314,410) $ (363,012)
Adjustments to reconcile net loss to net cash used for operating activities:      
Depreciation and amortization 12,462 11,007 10,989
Non-cash interest expense and amortization of debt issuance costs 9,162 12,897 22,526
Scilex Notes principal increase 28,000 0 0
Payment on Scilex Notes attributed to accreted interest related to the debt discount (13,172) 0 0
Non-cash operating lease cost 3,855 3,702 4,053
Stock-based compensation 90,188 31,419 12,648
Acquired in-process research and development 24,208 42,992 75,301
Loss on debt extinguishment, net 6,695 51,939 27,810
Loss (gain) loss on derivative liability 300 (6,600) 36,792
Loss on marketable investments 15,013 0 0
Loss on equity method investments 126 5,844 3,909
Loss (gain) on contingent liabilities and acquisition consideration payable 9,198 0 (11,090)
Deferred income taxes (35,927) (2,125) (373)
Changes in operating assets and liabilities, excluding effect of acquisitions:      
Accounts receivable (2,957) (1,051) 10,622
Accrued payroll (111) 4,945 5,678
Prepaid expenses and other current assets (12,019) 6,445 (314)
Accounts payable (3,878) (3,677) 10,221
Accrued expenses and other liabilities 20,747 (1,188) 4,061
Deferred revenue (1,024) (362) (945)
Other (3,549) (1,313) (628)
Net cash used for operating activities (281,821) (159,536) (172,996)
Investing activities:      
Proceeds from sale of marketable investments 124,767 0 0
Purchases of property and equipment (8,871) (6,528) (11,442)
Purchase of assets related to Semnur, net of cash acquired 0 0 (17,040)
Net cash used for investing activities 79,847 (39,923) (38,173)
Financing activities:      
Proceeds from exercises of stock options and warrants 15,420 98,351 8,851
Proceeds from short-term debt and working capital funding arrangements, net of issuance costs 49,743 18,587 8,000
Payments of debt and other obligations (85,656) (205,564) (3,074)
Payments related to Semnur Share Exchange 0 (55,000) 0
Net cash provided by financing activities 181,332 174,239 78,885
Net change in cash, cash equivalents and restricted cash (20,642) (25,220) (132,284)
Net effect of exchange rate changes on cash 843 915 (277)
Cash, cash equivalents and restricted cash at beginning of period 56,464 80,769 213,330
Cash, cash equivalents and restricted cash at end of period 36,665 56,464 80,769
Cash paid during the period for:      
Income taxes 1,200 0 13
Interest 1,060 3,419 12,738
Supplemental disclosures of non-cash investing and financing activities:      
Semnur acquisition costs incurred but not paid 0 0 601
Scilex Notes principal increase 28,000 0 0
ACEA acquisition consideration paid in equity 42,168 0 0
Right-of-use assets obtained in exchange for new and amended operating lease liabilities 49,459 1,878 6,777
Other acquisitions, license agreements and investments consideration paid in equity 13,689 9,544 0
Changes to noncontrolling interests from increased ownership in Scilex Holding 23,963 0 0
Conversion of convertible notes 0 0 53,983
Other loan forgiveness 7,304 0 0
Property and equipment costs incurred but not paid 1,253 600 849
Reconciliation of cash, cash equivalents and restricted cash within the Company's consolidated balance sheets:      
Cash and cash equivalents 36,665 56,464 22,521
Restricted cash 0 0 58,248
Cash, cash equivalents, and restricted cash 36,665 56,464 80,769
Public Offering Of Common Stock And Warrants 2019      
Operating activities:      
Net loss   (314,410)  
Financing activities:      
Proceeds from issuance of common stock 201,825 317,865 47,697
SmartPharm      
Supplemental disclosures of non-cash investing and financing activities:      
Acquisition consideration paid in equity 0 19,421 0
Semnur      
Supplemental disclosures of non-cash investing and financing activities:      
Acquisition consideration paid in equity 0 0 54,591
ACEA Therapeutics, Inc      
Changes in operating assets and liabilities, excluding effect of acquisitions:      
Acquisition consideration payable 9,200    
Investing activities:      
Acquisition consideration paid in cash, net of cash acquired (754) 0 0
Other Acquisitions and Investments      
Investing activities:      
Acquisition consideration paid in cash, net of cash acquired 35,295 33,395 9,691
Oaktree Term Loan      
Financing activities:      
Proceeds from Oaktree Term Loans, net of issuance costs $ 0 $ 0 $ 17,411