Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:        
Net loss $ (23,924,000) $ (12,243,000) $ (42,479,000) $ (22,773,000)
Adjustments to reconcile net loss to cash used in operating activities:        
Depreciation and amortization 2,057,000 290,000 3,715,000 464,000
Stock-based compensation expense     3,781,000 4,573,000
Restricted stock-based compensation expense     250,000 344,000
Non-cash earnings on investments     (829,000) 0
Non-cash loss on arbitration ruling on licensing agreement     367,000 0
Change in operating assets and liabilities:        
Receivables     41,000 60,000
Prepaid expenses and other current assets     1,459,000 798,000
Right-of-use lease assets and other assets     381,000 42,000
Accounts payable, accrued expenses and lease liabilities     2,994,000 3,388,000
Net cash used in operating activities     (30,320,000) (13,104,000)
Cash flows from investing activities:        
Capital expenditures     (5,250,000) (6,923,000)
Acquisition of licensed technology     (200,000) 0
Proceeds from maturities of short-term investments     47,144,000 (69,852,000)
Net cash provided by (used in) investing activities     41,694,000 (76,775,000)
Cash flows from financing activities:        
Proceeds from open market sales of common stock     12,622,000 0
Proceeds from exercise of stock options     413,000 2,166,000
Net cash provided by financing activities     13,035,000 2,399,000
Net increase (decrease) in cash, cash equivalents and restricted cash     24,409,000 (87,480,000)
Cash, cash equivalents and restricted cash at beginning of period     19,310,000 138,030,000
Cash, cash equivalents and restricted cash at end of period 43,719,000 50,550,000 43,719,000 50,550,000
Supplemental cash flow information:        
Cash and cash equivalents 42,609,000 49,990,000 42,609,000 49,990,000
Restricted cash 1,110,000 560,000 1,110,000 560,000
Total cash, cash equivalents and restricted cash $ 43,719,000 $ 50,550,000 43,719,000 50,550,000
Shares returned in connection with arbitration ruling on licensing agreement     1,472,000 0
Cash paid for interest     0 6,000
Dollar Five Warrant        
Cash flows from financing activities:        
Proceeds from exercise of $5.00 warrants     $ 0 $ 233,000