Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (48,159,000) $ (18,555,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Non-cash licensed technology impairment charge 32,916,000
Depreciation and amortization 2,065,000 1,658,000
Stock option-based compensation expense 1,256,000 2,103,000
Restricted stock-based compensation expense 464,000 172,000
Non-cash interest expense 600,000
Accretion and interest on short-term investments (109,000) (169,000)
Accretion of right-of-use lease assets 245,000 150,000
Change in operating assets and liabilities:    
Receivables 43,000
Prepaid expenses and other current assets 416,000 430,000
Accounts payable, accrued expenses and lease liabilities (2,926,000) (910,000)
Net cash used in operating activities (13,232,000) (15,078,000)
Cash flows from investing activities:    
Capital expenditures (479,000) (1,226,000)
Purchases of short-term investments (75,392,000)
Proceeds from maturities of short-term investments 24,000,000
Net cash (used in) provided by investing activities (75,871,000) 22,774,000
Cash flows from financing activities:    
Proceeds from exercise of stock options 28,000
Net cash provided by financing activities 28,000
Net (decrease) increase in cash, cash equivalents and restricted cash (89,103,000) 7,724,000
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 41,265,000 27,034,000
Supplemental cash flow information:    
Cash and cash equivalents 40,155,000 25,924,000
Restricted cash 1,110,000 1,110,000
Total cash, cash equivalents and restricted cash 41,265,000 27,034,000
Cash paid for interest