Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:        
Net loss $ (17,372,000) $ (16,419,000) $ (59,851,000) $ (39,192,000)
Adjustments to reconcile net loss to cash used in operating activities:        
Depreciation and amortization 2,032,000 505,000 5,747,000 969,000
Stock option-based compensation expense 1,826,000 2,499,000 5,607,000 7,072,000
Restricted stock-based compensation expense     348,000 516,000
Accretion and interest on short-term investments     (1,090,000)
Non-cash loss on arbitration ruling on licensing agreement     367,000
Change in operating assets and liabilities:        
Receivables     66,000 (245,000)
Prepaid expenses and other current assets     2,148,000 760,000
Right-of-use lease assets and other assets     623,000 40,000
Accounts payable, accrued expenses and lease liabilities     (2,539,000) 7,936,000
Net cash used in operating activities     (48,574,000) (22,144,000)
Cash flows from investing activities:        
Capital expenditures     (6,187,000) (8,580,000)
Acquisition of licensed technology     (199,000)
Purchases of short-term investments     (94,991,000)
Proceeds from maturities of short-term investments     67,308,000 16,366,000
Net cash provided by (used in) investing activities     60,922,000 (87,205,000)
Cash flows from financing activities:        
Proceeds from open market sales of common stock     16,962,000
Proceeds from exercise of $5.00 warrants     3,233,000
Proceeds from exercise of stock options     413,000 2,245,000
Net cash provided by financing activities     17,375,000 5,478,000
Net increase (decrease) in cash, cash equivalents and restricted cash     29,723,000 (103,871,000)
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 49,033,000 34,159,000 49,033,000 34,159,000
Supplemental cash flow information:        
Cash and cash equivalents 47,923,000 33,599,000 47,923,000 33,599,000
Restricted cash 1,110,000 560,000 1,110,000 560,000
Total cash, cash equivalents and restricted cash $ 49,033,000 $ 34,159,000 49,033,000 34,159,000
Shares returned in connection with arbitration ruling on licensing agreement     1,472,000
Cash paid for interest     $ 9,000