XML 24 R7.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (57,240,000) $ (51,903,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
In-process research and development 13,233,000  
Payment-in-kind interest on promissory notes   (32,822,000)
Interest expense on promissory notes 5,148,000 4,712,000
Stock-based compensation expense 6,511,000 6,203,000
Asset impairment 1,889,000  
Loss (Gain) on foreign currency translation (8,006,000) 1,913,000
(Loss) gain on extinguishment of debt (264,000) 3,529,000
Amortization of right-of-use assets 1,177,000 1,182,000
Depreciation, amortization and accretion 2,149,000 972,000
Loss on warrant transactions   868,000
Write-off of inventory 496,000 0
Other, net 19,000 107,000
Changes in operating assets and liabilities:    
Accounts receivable, net (705,000) 504,000
Inventory (1,314,000) (558,000)
Prepaid expenses and other current assets (154,000) (333,000)
Other assets 227,000 (549,000)
Accounts payable 793,000 (593,000)
Accrued expenses and other current liabilities 3,346,000 2,821,000
Deferred revenue (5,910,000) (6,717,000)
Recognized loss on purchase commitments (4,751,000) (4,395,000)
Operating lease liabilities (1,312,000) (995,000)
Accrued interest on Mann Group promissory notes   (1,545,000)
Net cash used in operating activities (28,128,000) (88,483,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of treasury bills 20,000,000 24,993,000
Acquisition of in-process research and development, net of cash acquired (3,983,000)  
Purchase of treasury bills   (44,971,000)
Purchase of property and equipment (801,000) (2,565,000)
Purchase of limited liability company ownership interest   (300,000)
Net cash provided by (used in) investing activities 15,216,000 (22,843,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock from the exercise of warrants 11,600,000 5,900,000
Proceeds from MidCap Credit Facility 10,000,000 40,000,000
Proceeds from Paycheck Protection Program Loan 4,873,000  
Payment of employment taxes related to vested restricted stock units and exercise of stock options (233,000) (124,000)
Proceeds from market price stock purchase plan 215,000  
Proceeds from promissory notes   70,051,000
Proceeds from senior convertible notes   9,910,000
Principal payments on promissory notes   38,264,000
Principal payments on senior convertible notes   (11,081,000)
Principal payments on facility financing obligation   (6,920,000)
Milestone payment   (1,643,000)
Issuance cost associated with MidCap Credit Facility   (886,000)
Repurchase of warrants   (433,000)
Issuance cost associated with promissory notes   33,000
Net cash provided by financing activities 49,853,000 69,864,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 36,941,000 (41,462,000)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 30,222,000 71,684,000
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 67,163,000 30,222,000
SUPPLEMENTAL CASH FLOWS DISCLOSURES:    
Interest paid in cash, net of amounts capitalized 3,558,000 1,757,000
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of common stock for acquisition of in-process research and development 9,250,000  
Payment on promissory notes through issuance of common stock 7,000,000 8,000,000
Payment on interest of promissory notes through issuance of common stock 3,000,000  
Payment of senior convertible notes through common stock issuance 5,261,000 4,500,000
Common stock issuance to settle employee stock purchase plan liability 684,000 656,000
Payment of interest on senior convertible notes through common stock issuance 288,000 1,075,000
Issuance of warrants associated with MidCap Credit Facility 275,000 1,854,000
Receivable from at the market offering 226,000  
Non-cash construction in progress and property and equipment 92,000  
Addition of right-of-use assets upon adoption of new lease guidance   5,192,000
Payment of facility obligation through common stock issuance   4,575,000
At The Market Issuance    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from public offering 23,450,000 3,199,000
Issuance costs $ (518,000) $ (60,000)