XML 60 R6.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:          
Net loss $ (44,720) $ (56,793)   $ (53,171) $ (18,485)
Adjustments to reconcile net loss to cash flows used in operating activities:          
Amortization of intangible assets 1,229 2,460 $ 981 981 724
Depreciation of property and equipment 97 144   167 91
Amortization of debt discount 312 596   209  
Amortization of bond (discount) premium on marketable securities         (9)
Non-cash interest expense   1,052      
Loss on extinguishment of debt   3,810      
Amortization of noncurrent portion of deferred revenue         (5,585)
Stock-based compensation 2,550 4,568   2,704 2,456
Change in fair value of derivative liability 18,886   45,164 26,278  
Changes in operating assets and liabilities:          
Accounts receivable and other current assets (711) (15,304)   (167) 120
Inventory (279) (1,859)      
Accounts payable and accrued expenses (204) 4,596   1,162 304
Right-of-use assets and operating lease liabilities   46      
Deferred revenue 30 (15)   (50) (97)
Deferred rent 224     (20) (9)
Net cash used in operating activities (22,586) (56,699)   (21,907) (20,490)
Cash flows from investing activities:          
Purchases of marketable securities         (5,052)
Maturities of marketable securities         18,743
Acquisition of Icon Bioscience Inc., net of cash acquired       (16,780)  
Purchases of property and equipment (132) (213)   (108) (147)
Proceeds from sale of property and equipment         33
Net cash (used in) provided by investing activities (132) (213)   (16,888) 13,577
Cash flows from financing activities:          
Proceeds from exercise of warrants 28,863        
Proceeds from issuance of stock, net of issuance costs   22,627   41,515 8,404
Proceeds from issuance of long-term debt   50,000   20,000  
Payment of debt issue costs   (1,341)   (1,347)  
Payment of long-term debt principal   (20,000)      
Payment of extinguishment of debt costs   (2,716)      
Net settlement of stock units to satisfy statutory tax withholding (195) (120)      
Proceeds from exercise of stock options 536 414   503 99
Payment of contingent development milestone   (15,000)      
Net cash provided by financing activities 29,204 33,864   60,671 8,503
Effect of foreign exchange rate changes on cash and cash equivalents (1) 1   2 (5)
Net increase (decrease) in cash, cash equivalents and restricted cash 6,485 (23,047)   21,878 1,585
Cash, cash equivalents and restricted cash at beginning of year 38,926 45,411   17,048 15,463
Cash, cash equivalents and restricted cash at end of year 45,411 22,364 $ 45,411 38,926 $ 17,048
Supplemental cash flow information:          
Cash interest paid $ 1,241 4,870   258  
Supplemental disclosure of non-cash investing and financing activities:          
Accrued development milestone       15,000  
Accrued term loan exit fee   $ 3,000   1,200  
Fair value of second tranche purchase liability       4,734  
Fair value of warrants issued with debt       355  
Fair value of second tranche warrants       $ 18,165