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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Dec. 31, 2018
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:        
Net loss $ (44,720) $ (53,171) $ (18,485) $ (21,547)
Adjustments to reconcile net loss to cash flows used in operating activities:        
Amortization of intangible assets 1,229 981 724 756
Depreciation of property and equipment 97 167 91 152
Amortization of debt discount 312 209 0 0
Amortization of bond (discount) premium on marketable securities 0 0 (9) 87
Amortization of noncurrent portion of deferred revenue 0 0 (5,585) 0
Stock-based compensation 2,550 2,704 2,456 2,163
Change in fair value of derivative liability 18,886 26,278 0 0
Changes in operating assets and liabilities:        
Accounts and other receivables (59) 7 219 116
Prepaid expenses and other current assets (652) (174) (99) 187
Inventory (279) 0 0 0
Accounts payable (298) 1,747 (346) 626
Accrued expenses 94 (585) 650 1,036
Deferred revenue 30 (50) (97) 103
Deferred rent 224 (20) (9) 5
Net cash used in operating activities (22,586) (21,907) (20,490) (16,316)
Cash flows from investing activities:        
Purchases of marketable securities 0 0 (5,052) (17,517)
Maturities of marketable securities 0 0 18,743 13,168
Acquisition of Icon Bioscience Inc., net of cash acquired 0 (16,780) 0 0
Purchases of property and equipment (132) (108) (147) (113)
Proceeds from sale of property and equipment 0 0 33 0
Net cash (used in) provided by investing activities (132) (16,888) 13,577 (4,462)
Cash flows from financing activities:        
Proceeds from exercise of warrants 28,863 0 0 0
Proceeds from issuance of stock, net of issuance costs 0 41,515 8,404 16,500
Proceeds from issuance of long-term debt 0 20,000 0 0
Payment of debt issue costs 0 (1,347) 0 0
Net settlement of stock units to satisfy statutory tax withholding (195) 0 0 0
Proceeds from exercise of stock options 536 503 99 490
Net cash provided by financing activities 29,204 60,671 8,503 16,990
Effect of foreign exchange rate changes on cash and cash equivalents (1) 2 (5) (20)
Net increase (decrease) in cash, cash equivalents and restricted cash 6,485 21,878 1,585 (3,808)
Cash, cash equivalents and restricted cash at beginning of year 38,926 17,048 15,463 19,271
Cash, cash equivalents and restricted cash at end of year 45,411 38,926 17,048 15,463
Supplemental cash flow information:        
Cash interest paid 1,241 258 0 0
Supplemental disclosure of non-cash investing and financing activities:        
Accrued development milestone 0 15,000 0 0
Accrued term loan exit fee 0 1,200 0 0
Fair value of second tranche purchase liability 0 4,734 0 0
Fair value of warrants issued with debt 0 355 0 0
Fair value of second tranche warrants $ 0 $ 18,165 $ 0 $ 0