XML 21 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:              
Net loss $ (60,169,041) $ (54,402,131) $ 19,171,336 $ (33,135,404) $ (196,711,130) $ (143,136,534)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation         2,094,896 2,323,505  
Amortization of intangible assets 127,000   137,000   393,644 410,311  
Change in fair value of derivative liability         0 75,670,977  
Stock-based compensation         20,862,757 11,822,483  
Non-cash interest expense         378,331 3,019,780  
(Gain) loss on short-term investments         (117,877) 571,778  
Settlement of receivable with shares of common stock from affiliated entity (PLS)         0 (1,713,770)  
Gain on deconsolidation of Geneos 0   0   0 4,121,075  
Gain (loss) on equity investment in affiliated entities 21,999   (26,951,898)   573,656 (36,250,341)  
Share of net loss in Geneos 0   1,759,674   434,387 2,661,431  
Net unrealized gain (loss) on available-for-sale equity securities 455,299   (1,315,980)   1,166,764 (624,522)  
Non-cash lease expense         863,060 774,438  
Unrealized transaction gain on foreign-currency denominated debt         (176,927) (290,602)  
Amortization of premium on short-term investments         1,150,985 0  
Changes in operating assets and liabilities:              
Accounts receivable         13,789,194 (6,992,871)  
Accounts receivable from affiliated entities         (1,850,534) 846,894  
Prepaid expenses and other current assets         (52,683,192) (30,055,813)  
Prepaid expenses and other current assets from affiliated entities         106,432 409,996  
Other assets         24,202,365 (14,969,731)  
Accounts payable and accrued expenses         7,421,976 5,383,268  
Accrued clinical trial expenses         3,668,480 1,853,216  
Accounts payable and accrued expenses due to affiliated entities         (151,324) 287,609  
Deferred revenue         20,111 (33,115)  
Deferred revenue from affiliated entities         0 (31,775)  
Operating lease right-of-use assets and liabilities, net         (1,723,265) (1,550,860)  
Grant funding liability         (1,509,379) 2,551,410  
Grant funding liability from affiliated entities         (27,250) (670,925)  
Other liabilities         6,478 2,833  
Net cash used in operating activities         (177,817,362) (126,762,557)  
Cash flows from investing activities:              
Purchases of investments         (308,464,967) (153,135,274)  
Proceeds from sale or maturity of investments         140,201,825 61,263,665  
Purchases of capital assets         (587,348) (558,588)  
Proceeds from the sale of investment in GeneOne         0 40,125,418  
Decrease in cash resulting from the deconsolidation of Geneos         0 (2,774,851)  
Net cash used in investing activities         (168,850,490) (55,079,630)  
Cash flows from financing activities:              
Proceeds from issuance of common stock, net of issuance costs         162,105,030 329,960,855  
Proceeds from stock option exercises         6,410,202 9,856,073  
Taxes paid related to net share settlement of equity awards         (4,611,348) (4,028,177)  
Acquisition of non-controlling interest         0 2,379,969  
Proceeds from Geneos issuance of note payable         0 171,620  
Net cash provided by financing activities         163,903,884 338,340,340  
Effect of exchange rate changes on cash and cash equivalents         (22,813) 6,184  
(Decrease) Increase in cash and cash equivalents         (182,786,781) 156,504,337  
Cash and cash equivalents, beginning of period   $ 250,728,118   $ 22,196,097 250,728,118 22,196,097 $ 22,196,097
Cash and cash equivalents, end of period 67,941,337   178,700,434   67,941,337 178,700,434 $ 250,728,118
Supplemental disclosures:              
Amounts accrued for purchases of fixed assets         29,080 198,761  
Interest paid         1,077,803 4,614,662  
Change in prepaid expenses and other current assets included in fixed assets         7,709,337 0  
August 2019 Bonds              
Adjustments to reconcile net loss to net cash used in operating activities:              
Gain (loss) on extinguishment of debt         0 8,177,043  
Convertible senior notes              
Adjustments to reconcile net loss to net cash used in operating activities:              
Gain (loss) on extinguishment of debt $ 0   $ (3,087,595)   $ 0 $ (3,087,595)