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 ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (68,406,000) $ (59,851,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Non-cash licensed technology impairment charge 32,916,000
Depreciation and amortization 3,746,000 5,747,000
Stock option-based compensation expense 4,083,000 5,607,000
Restricted stock-based compensation expense 812,000 348,000
Non-cash interest expense 600,000
Accretion and interest on short-term investments (237,000) (1,090,000)
Accretion of right-of-use lease assets 752,000 619,000
Non-cash loss on arbitration ruling on licensing agreement 367,000
Change in operating assets and liabilities:    
Receivables (7,000,000) 66,000
Prepaid expenses and other current assets 2,443,000 2,148,000
Other assets (62,000) 4,000
Accounts payable, accrued expenses and lease liabilities (5,183,000) (2,539,000)
Change in payable to licensor 2,127,000
Net cash used in operating activities (33,409,000) (48,574,000)
Cash flows from investing activities:    
Capital expenditures (1,303,000) (6,187,000)
Acquisition of licensed technology (199,000)
Purchases of short-term investments (139,230,000)
Proceeds from maturities of short-term investments 51,037,000 67,308,000
Net cash (used in)/provided by investing activities (89,496,000) 60,922,000
Cash flows from financing activities:    
Proceeds from loan payable 1,758,000
Proceeds from open market sales of common stock 16,962,000
Proceeds from exercise of stock options 175,000 413,000
Net cash provided by financing activities 1,933,000 17,375,000
Net (decrease)/increase in cash, cash equivalents and restricted cash (120,972,000) 29,723,000
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 9,396,000 49,033,000
Supplemental cash flow information:    
Cash and cash equivalents 8,424,000 47,923,000
Restricted cash 972,000 1,110,000
Total cash, cash equivalents and restricted cash 9,396,000 49,033,000
Shares returned in connection with arbitration  ruling on licensing agreement 1,472,000
Cash paid for interest
Cash paid for taxes