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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net loss before noncontrolling interest $ (12,186) $ (10,814)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity-based compensation 1,167 1,257
Depreciation and amortization 133 140
Provision for Italian VAT receivables and deposit 4,200 0
Other (38) 215
Changes in operating assets and liabilities:    
Receivables from license and development services arrangements 0 12,846
Prepaid expenses and other assets 1,038 972
Accounts payable, accrued expenses and other liabilities (4,756) (8,072)
Net cash used in operating activities (10,442) (3,456)
Investing activities    
Proceeds from maturities of short-term investments 2,500 9,000
Net cash provided by investing activities 2,500 9,000
Financing activities    
Proceeds from rights offering, net of issuance costs 59,280 0
Principal payments on debt (1,333) (1,333)
Cash paid for at-the-market equity offering costs 0 (45)
Net cash provided by (used in) financing activities 57,947 (1,378)
Effect of exchange rate changes on cash and cash equivalents 0 (12)
Net increase in cash and cash equivalents 50,005 4,154
Cash and cash equivalents at beginning of period 31,144 36,439
Cash and cash equivalents at end of period 81,149 40,593
Supplemental disclosure of cash flow information    
Cash paid during the period for interest $ 179 $ 301