| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-54,746 | -82,865 | -31,044 | ||||
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||||||
Ordinary shares issued in connection with license agreements | ||||||
-1,966 | - | - | ||||
Preferred C shares issued in connection with license agreements | ||||||
- | 140 | - | ||||
Issuance of shares for services | ||||||
- | - | 17 | ||||
Share-based compensation expense | ||||||
15,928 | 17,883 | 2,959 | ||||
Foreign currency loss (gain) | ||||||
3,199 | -3,824 | 1,676 | ||||
Depreciation | ||||||
2,238 | 2,053 | 679 | ||||
Lease obligation | ||||||
1,107 | - | - | ||||
Deferred rent | ||||||
- | -65 | -324 | ||||
Amortization of interest on asset retirement obligations | ||||||
20 | -38 | 19 | ||||
Change in fair value of warrant liability | ||||||
- | 1,514 | 465 | ||||
Convertible note inducement expense | ||||||
- | - | 553 | ||||
Issuance of shares for acquired research and development expense | ||||||
- | 2,990 | - | ||||
Issuance of note payable in connection with lease termination | ||||||
- | - | 1,442 | ||||
Benefit for income taxes | ||||||
- | -474 | 0 | ||||
(Increase) decrease in operating assets: | ||||||
Accounts receivable - related party | ||||||
23,886 | - | - | ||||
Prepaid expenses | ||||||
2,259 | 35 | 669 | ||||
Tax incentive receivable | ||||||
8,401 | 3,502 | - | ||||
Other current assets | ||||||
178 | 181 | 493 | ||||
Security deposits | ||||||
-796 | -115 | - | ||||
Increase (decrease) in operating liabilities: | ||||||
Accounts payable | ||||||
-8 | -2,119 | 4,728 | ||||
Accrued expenses | ||||||
6,518 | 2,529 | 4,969 | ||||
Other current liabilities | ||||||
- | 436 | - | ||||
Due to Kadmon | ||||||
- | -861 | 317 | ||||
Deferred revenue - related party | ||||||
85,741 | - | - | ||||
Net cash (used in) provided by operating activities | ||||||
20,044 | -58,887 | -18,055 | ||||
Cash flows from investing activities: | ||||||
Purchase of property and equipment | ||||||
8,980 | 11,258 | 10,535 | ||||
Purchase of Arthrogen | ||||||
389 | - | - | ||||
Net cash used in investing activities | ||||||
-9,370 | -11,258 | -10,535 | ||||
Cash flows from financing activities: | ||||||
Payments on lease obligations - financing leases | ||||||
24 | 30 | 24 | ||||
Exercise of warrants | ||||||
- | 9,720 | - | ||||
Exercise of share options | ||||||
557 | - | 9 | ||||
Proceeds from the sale of ordinary shares | ||||||
155,200 | 69,750 | - | ||||
Issuance costs in connection with ordinary shares | ||||||
7,497 | 4,115 | - | ||||
Proceeds from the sale of convertible preferred C shares | ||||||
- | 56,849 | 16,854 | ||||
Payment of note payable | ||||||
- | 1,442 | -2,500 | ||||
Net cash provided by financing activities | ||||||
148,234 | 130,040 | 19,340 | ||||
Net (decrease) increase in cash, cash equivalents and restricted cash | ||||||
158,909 | 59,894 | -9,250 | ||||
Effect of exchange rate changes on cash | ||||||
243 | -362 | 1 | ||||
Supplemental disclosure of non-cash transactions: | ||||||
Lease obligations for right-of-use asset | ||||||
- | - | 78 | ||||
Lease obligations for right-of-use asset | ||||||
-23,324 | - | - | ||||
Reclassification of property and equipment to right-of-use asset | ||||||
7,409 | - | - | ||||
Issuance of shares in connection with payables | ||||||
421 | 1,356 | - | ||||
Fixed asset acquisition included in accounts payable and accrued expenses at end of period | ||||||
1,519 | 293 | 415 | ||||
Reclassification of warrant liability upon exercise of warrants | ||||||
- | 4,194 | - | ||||
Issuance costs in connection with sale of ordinary shares in accounts payable and accrued expenses at end of year | ||||||
- | 441 | - | ||||
Asset retirement obligations in connection with a lease | ||||||
1,501 | -29 | -75 | ||||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest | ||||||
1 | 34 | 20 | ||||
Convertible Preferred C Shares [Member] | ||||||
Issuance costs in connection with ordinary shares | ||||||
- | 690 | - | ||||
Conversion of convertible preferred C shares into ordinary shares | ||||||
- | 120,520 | 2,500 | ||||