IOVANCE BIOTHERAPEUTICS, INC. IOVA Cash Flow

Iovance biotherapeutics, inc. (IOVA)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash Flows from Operating Activities
Net loss
-230,250	-197,600	-166,575	-150,905	-134,015	-123,580	-116,859	-105,178	-97,895	-92,064	-81,898	-78,508	-66,694	-52,894	-45,566	-34,442	-29,246	-27,660	-24,167	-19,330	-15,073	-12,035	-18,665	-25,275	-26,594	-25,382	-10,418	-1,683	1,418	-3,307	-15,125	-20,270	-30,902	-25,694	0	0	0
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense
27,843	24,277	24,055	22,973	21,769	20,027	17,602	14,705	12,776	11,968	12,331	18,357	20,421	18,904	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash lease expense
7,400	6,954	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of premiums on investments
-2,239	-3,421	-3,979	-3,761	-2,564	-1,332	-388	-19	-9	19	14	-37	-46	-74	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Depreciation and amortization
1,150	1,169	1,127	1,063	999	956	946	941	959	952	1,000	902	930	978	996	1,114	1,083	999	756	495	256	88	25	21	21	7	6	6	6	6	-48	-30	-13	2	0	0	0
Gain on settlement of dispute
-	336	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of assets
-	-	-	-	-	-9	0	0	-9	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of intangible asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	160	160	160	160	0	0	0
Fair value of vested stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	2,285	1,867	1,561	747	528	1,101	1,438	2,528	3,618	3,056	2,930	1,793	0	0	0
Fair value of derivative liability recorded upon issuance of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,563	0	0	0
Amortization of discount on convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-497	-497	0	0	0	-	-	-	-
Private placement costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	515	515	515	920	920	920	0	0	0
Change in fair value of derivative liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,087	8,635	-3,861	-1,911	858	-1,596	0	0	0
Common stock issued to officer for services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-90	8,010	8,010	0	0	0
Common stock issued for services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	274	750	750	750	800	-990	483	548	498	0	0	0
Common stock issued to induce conversion of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Common stock issued to induce exchange transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,296	0	0	0	-	-	-	-	-	-	-	-
Derivative liability recorded upon issuance of convertible notes and warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-182	0	920	5,535	5,717	5,535	0	0	0
Derivative liability recorded as offering cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	697	697	182	182	642	642	0	0	0
Common stock issued to directors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-217	0	0	0	0
Fair value of common stock and warrants accounted for as financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	-	-	-	-
Vesting of restricted shares issued for services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	0	0	0	0	0	-	-	-	-
Fair value of common stock transferred to officer and director
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,040	1,040	1,742	1,742	0	0	0
Write off of advances to related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	50	50	50	50	0	0	0
Changes in assets and liabilities:
Prepaid expenses, other assets, and long-term assets
6,186	3,278	636	4,184	105	2,065	199	-471	2,522	4,508	6,721	5,635	5,203	2,765	1,045	404	65	211	173	298	3	-108	44	67	115	164	3	-15	-3	-22	-71	-25	-48	-21	0	0	0
Operating lease liabilities (Right-of-use assets)
-7,667	-6,148	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
355	12,706	3,350	7,772	851	1,507	3,003	1,068	4,142	369	2,628	2,970	1,120	-250	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses and other liabilities
14,438	6,728	5,715	4,637	429	3,229	5,222	3,821	4,785	4,555	2,742	1,284	2,553	3,433	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Accrued interest and penalty
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Accounts payable, accrued expenses and interest and penalty
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Accounts payable and accrued expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-1,780	-2,187	-1,407	-98	488	2,151	1,819	1,875	0	0	0	-	0	0	0
Accrued compensation payable in shares of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Net cash used in operating activities
-195,110	-158,900	-136,649	-122,377	-112,490	-101,249	-90,664	-84,182	-77,755	-78,709	-69,904	-60,667	-46,919	-32,668	-27,089	-18,722	-19,474	-18,381	-15,116	-13,002	-9,824	-8,633	-7,569	-6,268	-5,628	-3,661	-1,409	-1,262	-1,781	-2,241	-4,951	-6,319	-6,384	-6,189	0	0	0
Cash Flows from Investing Activities
Maturities of short-term investments
537,224	514,601	0	0	0	-	-	-	40,105	59,705	86,210	97,738	101,109	120,664	148,859	134,481	109,755	70,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Purchase of money market funds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of short-term investments
341,397	417,659	600,965	597,126	515,266	426,081	0	0	0	-	-	-	-	110,249	155,678	112,724	169,938	140,665	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of property and equipment
6,730	6,917	3,786	3,015	2,000	1,198	845	645	252	1,028	1,826	2,288	2,317	1,521	932	280	363	1,143	2,417	2,505	2,370	1,592	0	0	0	-	-	-	-	0	10	14	31	31	0	0	0
Advances to related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	50	0	0	50	0	0	0
Net cash provided by investing activities
189,097	90,025	-143,171	-296,039	-385,224	-386,279	-179,839	-15,979	39,853	58,677	84,384	53,541	17,816	8,894	-7,751	28,954	-60,546	-71,208	0	0	0	-	-	-	-	-13	-12	0	0	0	-60	-14	-31	-81	0	0	0
Tax payments related to shares withheld for vested restricted stock awards
359	312	235	196	232	223	230	213	1,310	1,252	1,491	1,454	646	642	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the issuance of common stock upon exercise of warrants
-	-	-	-	-	15,754	14,958	4,553	2,332	662	744	864	1,391	1,235	966	2,351	7,401	9,705	9,838	8,833	4,983	3,222	3,002	2,363	542	0	0	0	0	-	-	-	-	-	-	-	-
Proceeds from the issuance of common stock upon exercise of options
10,325	6,443	5,829	6,605	4,398	9,959	11,428	11,798	11,015	5,616	2,702	1,035	857	626	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the issuance of secured promissory notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Proceeds from the issuance of common stock, net
-	-	-	-	-	-	0	0	215,848	-	0	0	0	-	-	-	-	-	-	-	0	-	-	-	-	7,126	1,240	1,240	0	250	250	250	1,078	873	0	0	0
Proceeds from the issuance of preferred stock and common stock, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Proceeds from the issuance of convertible notes, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	311	311	311	300	0	2,320	4,615	4,615	4,615	0	0	0
Due to director
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0
Net cash provided by / (used in) financing activities
9,966	6,131	243,388	254,746	254,725	424,307	187,861	231,893	227,885	58,688	56,005	445	97,287	96,904	96,963	98,178	7,655	78,267	110,452	109,381	105,531	35,462	24,796	24,157	23,588	23,346	1,551	1,816	1,781	1,731	4,101	6,081	5,693	5,488	0	0	0
Net increase / (decrease) in cash, cash equivalents and restricted cash
3,972	-62,733	-36,399	-163,655	-242,989	-63,221	-82,642	131,732	189,983	38,656	70,485	-6,681	68,184	73,130	62,123	108,410	-72,365	-11,322	13,583	-5,884	93,336	25,237	17,059	17,870	17,943	19,672	129	553	0	-510	-910	-252	-722	-782	0	0	0
Supplemental disclosure of cash flow information:
Cash paid for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Interest paid
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of non-cash investing and financing activities:
Net unrealized gain on short-term investments
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net unrealized gain (loss) on short-term investments
774	262	359	375	138	-42	-120	-3	-2	-29	-163	-78	-66	-19	115	56	68	48	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions of property and equipment included in accounts payable and accrued expenses
4,540	122	0	0	0	-	-	0	167	-	0	0	0	155	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Offering costs under accounts payable and accrued expenses
-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Forgiveness of debt by director, treated as contribution of capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0
Common stock issued upon conversion of convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Fair value of common stock issued with notes payable recorded as a note discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Settlement of accounts payable through issuance of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Common stock issued upon conversion of accrued interest and penalty
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,475	0	0	0	-	-	-	-	-	-	-	-