Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:        
Net loss $ (13,010,000) $ (23,924,000) $ (61,169,000) $ (42,479,000)
Adjustments to reconcile net loss to cash used in operating activities:        
Non-cash licensed technology impairment charge 32,916,000
Depreciation and amortization 834,000 2,057,000 2,899,000 3,715,000
Stock option-based compensation expense 1,578,000 1,678,000 2,834,000 3,781,000
Restricted stock-based compensation expense     651,000 250,000
Non-cash interest expense     600,000
Accretion and interest on short-term investments     (156,000) (829,000)
Accretion of right-of-use lease assets     496,000 382,000
Non-cash loss on arbitration ruling on licensing agreement     367,000
Change in operating assets and liabilities:        
Receivables     41,000
Prepaid expenses and other current assets     2,208,000 1,459,000
Other assets     (1,000)
Accounts payable, accrued expenses and lease liabilities     (4,786,000) 2,994,000
Change in payable to licensor     800,000
Net cash used in operating activities     (22,707,000) (30,320,000)
Cash flows from investing activities:        
Capital expenditures     (1,032,000) (5,250,000)
Acquisition of licensed technology     (200,000)
Purchases of short-term investments     (123,062,000)
Proceeds from maturities of short-term investments     30,014,000 47,144,000
Net cash (used in) provided by investing activities     (94,080,000) 41,694,000
Cash flows from financing activities:        
Proceeds from loan payable     1,758,000
Proceeds from open market sales of common stock     12,622,000
Proceeds from exercise of stock options     175,000 413,000
Net cash provided by financing activities     1,933,000 13,035,000
Net (decrease) increase in cash, cash equivalents and restricted cash     (114,854,000) 24,409,000
Cash, cash equivalents and restricted cash at beginning of period     130,368,000 19,310,000
Cash, cash equivalents and restricted cash at end of period 15,514,000 43,719,000 15,514,000 43,719,000
Supplemental cash flow information:        
Cash and cash equivalents 14,542,000 42,609,000 14,542,000 42,609,000
Restricted cash 972,000 1,110,000 972,000 1,110,000
Total cash, cash equivalents and restricted cash $ 15,514,000 $ 43,719,000 15,514,000 43,719,000
Shares returned in connection with arbitration  ruling on licensing agreement     1,472,000
Cash paid for interest    
Cash paid for taxes