XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2019
Mar. 31, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:              
Net loss $ 19,171,336 $ (33,135,404) $ (23,536,452) $ (29,288,867) $ (143,136,534) $ (82,404,395)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation         2,323,505 2,746,463  
Amortization of intangible assets 137,000   267,000   410,311 799,688  
Change in fair value of derivative liability         75,670,977 (2,551,453)  
Stock-based compensation         11,822,483 8,867,810  
Non-cash interest expense         3,019,780 2,587,619  
Amortization of premiums on investments         0 1,962  
Loss (gain) on short-term investments         571,778 (238,083)  
Settlement of receivable with shares of common stock from affiliated entity (PLS)         (1,713,770) 0  
Gain on deconsolidation of Geneos 0   0   (4,121,075) 0  
(Gain) loss on equity investment in affiliated entities (26,951,898)   485,841   (36,250,341) 1,409,156  
Share of net loss in Geneos 1,759,674   0   2,661,431 0  
Net unrealized gain on available-for-sale equity securities         (624,522) 0  
Non-cash lease expense         774,438 0  
Tax benefit from other unrealized gains on short-term investments         0 (335,228)  
Unrealized transaction loss on foreign-currency denominated debt         (290,602) 183,756  
Changes in operating assets and liabilities:              
Accounts receivable         (6,992,871) 2,540,066  
Accounts receivable from affiliated entities         846,894 (239,961)  
Prepaid expenses and other current assets         (30,055,813) (271,012)  
Prepaid expenses and other current assets from affiliated entities         409,996 (460,306)  
Other assets         (14,969,731) (61,057)  
Accounts payable and accrued expenses         5,383,268 (12,791,123)  
Accrued clinical trial expenses         1,853,216 (1,170,866)  
Accounts payable and accrued expenses due to affiliated entities         287,609 (515,196)  
Deferred revenue         (33,115) (144,154)  
Deferred revenue from affiliated entities         (31,775) 31,250  
Operating lease right-of-use assets and liabilities, net         (1,550,860) (622,138)  
Grant funding liability         2,551,410 (2,269,322)  
Grant funding liability from affiliated entities         (670,925) 828,842  
Other liabilities         2,833 (35,107)  
Net cash used in operating activities         (126,762,557) (84,112,789)  
Cash flows from investing activities:              
Purchases of investments         (153,135,274) (86,950,301)  
Proceeds from sale or maturity of investments         61,263,665 68,344,014  
Purchases of capital assets         (558,588) (873,484)  
Proceeds from the sale of investment in GeneOne         40,125,418 0  
Decrease in cash resulting from the deconsolidation of Geneos         (2,774,851) 0  
Net cash used in investing activities         (55,079,630) (19,479,771)  
Cash flows from financing activities:              
Proceeds from issuance of convertible senior notes and convertible bonds         0 93,425,973  
Costs related to issuance of convertible senior notes and convertible bonds         0 (3,314,757)  
Proceeds from issuance of common stock, net of issuance costs         329,960,855 3,425,065  
Proceeds from stock option exercises         9,856,073 92,272  
Taxes paid related to net share settlement of equity awards         (4,028,177) (892,928)  
Acquisition of non-controlling interest         2,379,969 3,016,538  
Proceeds from Geneos issuance of note payable         171,620 0  
Net cash provided by financing activities         338,340,340 95,752,163  
Effect of exchange rate changes on cash and cash equivalents         6,184 0  
Increase (Decrease) in cash and cash equivalents         156,504,337 (7,840,397)  
Cash and cash equivalents, beginning of period   $ 22,196,097   $ 23,693,633 22,196,097 23,693,633 $ 23,693,633
Cash and cash equivalents, end of period 178,700,434   15,853,236   178,700,434 15,853,236 $ 22,196,097
Supplemental disclosures:              
Amounts accrued for purchases of property and equipment         198,761 0  
Interest paid         4,614,662 2,692,083  
Right-of-use assets obtained in exchange for lease obligations         0 14,634,769  
August 2019 Bonds              
Adjustments to reconcile net loss to net cash used in operating activities:              
Gain (loss) on extinguishment of debt         8,177,043 0  
6.50% Convertible Senior Notes Due 2024              
Adjustments to reconcile net loss to net cash used in operating activities:              
Gain (loss) on extinguishment of debt $ (3,087,595)   $ 0   $ (3,087,595) $ 0