XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (48,439,000) $ (19,574,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on extinguishment of debt 22,130,000  
Stock-based compensation expense 5,861,000 3,313,000
Interest on milestone payment 3,663,000  
Loss (gain) on foreign currency translation (2,935,000) 71,000
Depreciation, amortization and accretion 1,671,000 1,105,000
Interest expense on Mann Group promissory notes 1,398,000 2,536,000
Amortization of right-of-use assets 668,000 576,000
Asset impairment   1,889,000
Write-off of inventory 0 496,000
Other, net   19,000
Changes in operating assets and liabilities:    
Accounts receivable, net (2,087,000) 147,000
Inventory (2,509,000) (164,000)
Prepaid expenses and other current assets (502,000) 1,352,000
Other assets (202,000) 82,000
Accounts payable 1,904,000 1,032,000
Accrued expenses and other current liabilities 3,215,000 (1,343,000)
Deferred revenue (13,222,000) (3,803,000)
Operating lease liabilities (1,554,000) (1,401,000)
Recognized loss on purchase commitments (3,636,000) (1,236,000)
Deposits from customer 5,317,000  
Accrued interest on Mann Group promissory notes (4,919,000)  
Net cash used in operating activities (34,178,000) (14,903,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of debt securities (138,920,000)  
Purchase of available-for-sale securities (3,000,000)  
Purchase of property and equipment (2,030,000) (300,000)
Proceeds from sale of treasury bills   20,000,000
Net cash (used in) provided by investing activities (143,950,000) 19,700,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the Senior convertible notes 230,000,000  
Issuance costs associated with Senior convertible notes (7,268,000)  
Principal payments on Mann Group promissory notes (35,051,000)  
Payment of MidCap credit facility (10,000,000)  
Payment of MidCap credit facility prepayment penalty (1,000,000)  
Milestone payment 5,000,000  
Payment of employment taxes related to vested restricted stock units and exercise of stock options (148,000) (201,000)
Proceeds from market price stock purchase 106,000 14,000
Issuance of common stock from the exercise of warrants   11,600,000
Proceeds from PPP loan   4,873,000
Net cash provided by financing activities 173,487,000 28,519,000
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (4,641,000) 33,316,000
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 67,163,000 30,222,000
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 62,522,000 63,538,000
SUPPLEMENTAL CASH FLOWS DISCLOSURES:    
Interest paid in cash, net of amounts capitalized 6,717,000 1,820,000
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Non-cash construction in progress and property and equipment 1,183,000  
Payment of interest through common stock issuance 143,000 144,000
Issuance of common stock under Employee Stock Purchase Plan 390,000 318,000
Payment of principal on Senior convertible notes through issuance of common stock   2,630,000
Receivable from at-the-market offering   470,000
2024 Convertible Notes    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Payment of 2024 convertible notes through issuance of common stock 5,000,000  
Mann Group    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Premium on convertible note 22,107,000  
Payment of convertible notes through common stock issuance 9,573,000  
Payment of interest through common stock issuance 427,000  
At The Market Issuance    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from at-the-market offering 1,886,000 12,564,000
Issuance costs associated with at-the-market offering $ (38,000) $ (331,000)