XML 46 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (17,509,000) $ (22,228,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 510,000 344,000
Amortization of deferred financing costs and debt discount 500,000 562,000
Joint Venture acquisition obligation accretion 307,000 145,000
Provision for doubtful accounts 0 836,000
Provision for expired enzyme 0 209,000
Change in fair value of warrants 2,322,000 0
Stock-based compensation expense 1,146,000 1,448,000
Loss on debt extinguishment 260,000 0
Increases (decreases) in cash caused by changes in operating assets and liabilities:    
Accounts receivable 544,000 1,386,000
Inventories 730,000 (526,000)
Other current assets (106,000) (59,000)
Other assets 407,000 (281,000)
Accounts payable and accrued expenses 1,089,000 124,000
Deferred revenues 151,000 0
Long-term deferred rent (139,000) (97,000)
Net cash used in operating activities (9,788,000) (18,137,000)
Cash flows from investing activities:    
Purchases of property and equipment (497,000) (467,000)
Expenditures for intellectual property (13,000) (255,000)
License agreement termination fee 0 (400,000)
Net cash used in investing activities (510,000) (1,122,000)
Cash flows from financing activities:    
Principal payments on long-term obligations (25,032,000) 0
Proceeds from long-term obligations 17,700,000 0
Debt issuance costs and loan fees (1,854,000) 0
Joint Venture purchase payments (1,123,000) (2,189,000)
Proceeds from exercise of employee stock options and warrants 4,986,000 33,000
Proceeds from sale of common stock, net 24,930,000 18,665,000
Dividends paid on preferred stock (75,000) 0
Net cash provided by financing activities 19,532,000 16,509,000
Effect of exchange rate changes on cash and cash equivalents (14,000) 4,000
Net increase (decrease) in cash and cash equivalents 9,220,000 (2,746,000)
Cash and cash equivalents at beginning of period 14,622,000 15,506,000
Cash and cash equivalents at end of period 23,842,000 12,760,000
Cash paid during period for:    
Interest 1,202,000 1,318,000
Supplemental schedule of non-cash investing and financing activities:    
Conversion of preferred stock into common stock 10,000 0
Declared dividend related to preferred stock $ 3,000 $ 0