XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:              
Net loss $ (37,783,896) $ (79,073,719) $ (60,169,041) $ (54,402,131) $ (225,354,926) $ (196,711,130)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation         2,776,672 2,094,896  
Amortization of intangible assets 120,000   127,000   376,911 393,644  
Amortization of operating lease right-of-use assets         993,949 863,060  
Non-cash stock-based compensation         19,281,108 20,862,757  
Non-cash interest on senior convertible notes         (126,511) 378,331  
Amortization of (discounts) premiums on investments         (584,816) 1,150,985  
(Gain) loss on short-term investments         1,265,669 (117,877)  
Loss on disposal of fixed assets         157,666 0  
Gain on remeasurement of investment in Geneos         (165,215) 0  
Loss on equity investment in affiliated entities 305,061   21,999   1,776,804 573,656  
Share of net loss in Geneos 0   0   2,165,213 434,387  
Net unrealized loss on available-for-sale equity securities 1,833,284   455,299   10,641,026 1,166,764  
Unrealized transaction gain on foreign-currency denominated debt         0 (176,927)  
Changes in operating assets and liabilities:              
Accounts receivable, including from affiliated entities         (2,048,642) 11,938,660  
Prepaid expenses and other current assets, including from affiliated entities         (19,146,007) (52,576,760)  
Other assets         723,808 24,202,365  
Accounts payable and accrued expenses, including due to affiliated entities         27,323,827 7,270,652  
Accrued clinical trial expenses         3,159,580 3,668,480  
Deferred revenue, including from affiliated entity         (85,989) 20,111  
Operating lease right-of-use assets and liabilities, net         (1,930,270) (1,723,265)  
Grant funding liability, including from affiliated entity         (1,770,768) (1,536,629)  
Other liabilities         695,522 6,478  
Net cash used in operating activities         (179,875,389) (177,817,362)  
Cash flows from investing activities:              
Purchases of investments         (203,549,807) (308,464,967)  
Proceeds from sale or maturity of investments         261,938,897 140,201,825  
Purchases of capital assets         (804,044) (587,348)  
Investment in Geneos         (1,999,998) 0  
Net cash provided by (used in) investing activities         55,585,048 (168,850,490)  
Cash flows from financing activities:              
Proceeds from issuance of common stock, net of issuance costs         76,287,314 162,105,030  
Proceeds from stock option exercises         283,022 6,410,202  
Taxes paid related to net share settlement of equity awards         (1,397,631) (4,611,348)  
Net cash provided by financing activities         75,172,705 163,903,884  
Effect of exchange rate changes on cash and cash equivalents         (37,903) (22,813)  
Decrease in cash and cash equivalents         (49,155,539) (182,786,781)  
Cash and cash equivalents, beginning of period   $ 71,143,778   $ 250,728,118 71,143,778 250,728,118 $ 250,728,118
Cash and cash equivalents, end of period $ 21,988,239   $ 67,941,337   21,988,239 67,941,337 $ 71,143,778
Supplemental disclosures:              
Amounts accrued for purchases of fixed assets         262,191 29,080  
Interest paid         1,066,975 1,077,803  
Change in prepaid expenses and other current assets included in fixed assets         $ 0 $ 7,709,337