XML 25 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (37,519,000) $ (54,434,000) $ (37,638,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities      
Depreciation and amortization 1,450,000 3,533,000 3,591,000
Non-cash compensation expense attributable to stock awards 13,625,000 15,925,000 5,826,000
Deferred income taxes 983,000 124,000 2,399,000
Bad debt expense 0 0 41,000
Accretion expense 0 0 1,000
(Gain)/loss from disposal of intangible assets, net (11,209,000) 3,849,000 0
Loss from disposal of long-lived assets, net 107,000 70,000 76,000
Loss on disposal of capitalized patent costs 0 0 140,000
Impairment of long-lived assets 0 85,000 46,000
Loss on equity method investment 0 39,000 9,000
Changes in operating assets and liabilities      
Accounts receivable 4,000 57,000 464,000
Prepaid expenses and other assets (797,000) (745,000) 316,000
Right of use assets obtained in exchange for new operating lease liabilities 1,053,000 1,407,000 1,404,000
Accounts payable and accrued expenses 270,000 2,647,000 578,000
Due to related parties (32,000) 42,000 (73,000)
Restructuring reserve 0 (636,000) (2,699,000)
Operating lease liabilities (1,382,000) (1,674,000) (1,447,000)
Contingent liability 0 20,000,000 0
Deferred revenue 51,695,000 (483,000) (791,000)
Other liabilities (335,000) 235,000 (66,000)
Net cash provided by (used in) operating activities 17,913,000 (9,959,000) (27,823,000)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of intangible assets, including refundable deposits (26,358,000) (13,944,000) (7,096,000)
Purchases of equipment (1,053,000) (230,000) (464,000)
Net cash used in investing activities (27,411,000) (14,174,000) (7,560,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net proceeds from July 2019 follow-on offering 0 0 94,244,000
Proceeds from stock option exercises 14,004,000 4,218,000 2,436,000
Repurchase of common stock (14,962,000) 0 0
Payments of withholding tax on net issuance of restricted stock (1,458,000) 0 (566,000)
Net cash (used in) provided by financing activities (2,416,000) 4,218,000 96,114,000
Net change in cash and cash equivalents (11,914,000) (19,915,000) 60,731,000
CASH AND CASH EQUIVALENTS      
Beginning of the year 117,538,000 137,453,000 76,722,000
End of the year $ 105,624,000 $ 117,538,000 $ 137,453,000