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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities          
Net loss $ (57,402) $ (26,981) $ (23,364) $ (88,424) $ (47,519)
Adjustments to reconcile net loss to net cash used for operating activities:          
Depreciation and amortization 2,073 1,890 3,961 3,779 3,777
Amortization of debt issuance costs and debt discount 1 3,057 3,142 7,909 10,664
Payment on the Scilex Pharma Notes attributed to accreted interest related to the debt discount 0 (21,190) (21,190) (12,487) (10,866)
Loss on debt extinguishment, net 0 4,799 (28,634) 12,463 0
Non-cash operating lease cost 156 214 492 372 825
Stock-based compensation 7,307 2,792 5,280 5,822 5,395
Loss (gain) on derivative liability 5,335 (4,800) (8,310) 300 (800)
Scilex Pharma Notes principal increase     0 28,000 0
Forfeitures of Private Warrants     1,697 0 0
Change in fair value of Convertible debentures 3,748 0      
Other (20) 0      
Changes in operating assets and liabilities:          
Accounts receivables, net (6,332) (1,632) (6,968) (1,142) (598)
Inventory (1,732) 1,402 1,184 (1,417) 2,379
Prepaid expenses and other (9) (1,585) (2,629) 1,479 (1,035)
Other long-term assets 804 86 350 0 2,580
Accounts payable 4,334 324 2,806 (3,836) (4,062)
Accrued Payroll 1,398 918 (2,379) (21) 1,247
Accrued expenses 1,525 957 (123) 664 (1,066)
Accrued rebates and fees 16,886 8,062 23,531 (255) 3,117
Other liabilities (338) (138) (392) (80) (604)
Related party payable 1,043 8,759 30,125 18,210 5,105
Other long-term liabilities 6 0 163 0 0
Net cash used for operating activities (21,217) (23,066) (21,258) (28,664) (31,461)
Investing activities          
Acquisition consideration paid in cash for Romeg intangible asset acquisition 0 (2,060) (2,060) 0 0
Purchase of property, plant, and equipment (8) 0 (7) 0 (25)
Net cash used for investing activities (8) (2,060) (2,067) 0 (25)
Financing activities          
Proceeds from the Business Combination     3,375 0 0
Proceeds from issuance of shares under Standby Equity Purchase Agreements 16,166 0      
Proceeds from issuance of Convertible debentures 24,000 0      
Transaction costs paid related to the Business Combination (1,372) 0 (2,949) 0 0
Repayment of principal on the Scilex Pharma Notes 0 (43,364) (84,808) (33,387) (58,927)
Repayment on other loans (2,528) (18,788) (18,800) (48,832) 0
Proceeds from other loans 17,538 9,869 9,857 47,832 11,007
Proceeds from stock options and warrants exercised 743 96 96 0 50
Proceeds from related party payable 0 17,300 51,900 47,850 18,400
Proceeds from related party note payable 0 62,500 62,500 14,700 10,300
Payments of debt issuance costs (380) 0      
Net cash proceeds from financing activities 54,167 27,613 21,171 28,163 (19,170)
Net change in cash, cash equivalents and restricted cash 32,942 2,487 (2,154) (501) (50,656)
Cash and cash equivalents at beginning of period 2,184 4,338 4,338 4,839 55,495
Cash and cash equivalents at end of period 35,126 6,825 2,184 4,338 4,839
Supplemental disclosure of non-cash financing activity          
Issuance of shares to B.Riley pursuant to B. Riley Purchase Agreement 1,869 0      
Related party debt converted to equity     289,733    
Deferred Consideration for Romeg Intangible Asset Acquisition 0 3,650 3,650 0 0
Non-cash Consideration in Semnur Acquisition     0 409 0
Other Loan Forgiveness     0 1,536 0
Promissory Note issued to Sorrento in exchange for the SP-104 license 0 4,127 4,162 0 0
Fair value adjustment to derivative liability in troubled debt restructuring 0 30,400 30,400 0 0
Acquisition of right-of-use asset     320 0 0
Non-cash distribution to Sorrento     0 0 9,600
Issuance of shares to Yorkville     1,238    
Scilex Pharma Notes principal increase     0 28,000 0
Accrual for transaction costs related to the Business Combination     1,372 0 0
Transaction costs obligation assumed by Sorrento     $ 5,148 $ 0 $ 0
Conversion of Convertible Debentures into common stock 7,735 0      
Right-of-use assets obtained in exchange for operating lease liabilities with lease modification $ 2,523 $ 0