SORRENTO THERAPEUTICS, INC. SRNE Cash Flow

Sorrento therapeutics, inc. (SRNE)

CashFlow / Quarterly

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'11	Sep'11	Jun'11	Mar'11
Operating activities
Net loss
-69,180	-69,426	-75,212	-71,845	-146,529	-53,717	-50,454	-74,807	-33,548	48,199	1,452	-14,739	-23,803	-17,924	15,743	-44,469	-17,287	-26,599	-2,079	-10,958	-10,438	-	-	-	-	-	-	-	-	-	-	-	-
Net loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8,454	-10,093	-	-3,356	-4,737	-2,522	-762	-702	-1,087	-684
Adjustments to reconcile net loss to net cash used for operating activities:
Depreciation and amortization
3,058	2,741	2,314	2,463	3,471	3,302	2,261	1,926	2,005	1,867	2,083	1,734	1,454	1,662	122	556	545	533	410	604	823	812	805	793	774	-	-	-	-	-	-	-	-
Non-cash operating lease cost
842	984	852	925	1,292	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest expense and amortization of debt issuance costs
4,386	6,562	4,696	5,068	6,200	9,119	0	43,984	288	883	357	253	310	-17	58	60	63	94	96	106	96	120	123	119	89	-35	19	11	5	-	-	-	-
Loss on disposals
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquired in-process research and development
-	0	0	0	75,301	417	9,478	0	0	-	-	-	-	-	-	27,000	3,000	-1,855	13,855	0	0	0	0	0	209	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
-	-	-	-	-	-	2,119	514	1	-	84	205	166	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on sale of marketable securities
-	-	-	-	-	-	-	-	-	-	232	-609	159	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on trading securities
-	-	-	-	-	-	-26	-121	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	226	103	55	46	43	13
Stock-based compensation
3,682	3,670	4,015	2,987	1,976	2,018	1,278	1,316	1,594	1,016	1,310	1,284	1,342	1,299	1,051	1,211	1,180	1,489	2,653	1,394	1,436	781	626	630	1,903	1,167	192	182	248	76	69	74	76
Loss on partial debt settlement
-23,645	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-1	30	1	0	0	4	24	0	0	9	-	-	-	-	-	-	-	-
(Gain) Loss on derivative liabilities
4,900	-	-	-	-14,501	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on equity method investments
-556	-	-	-	-897	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on expiration of derivative liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	5,520	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on derivative liabilities
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on equity method investments
-	-	-	-	-	-	-899	-2,105	-922	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on equity method investments
-	-	-	-	-	-	-	-	-	-	-	-	-948	-	323	470	-499	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on contingent liabilities and acquisition consideration payable
-	-	-	-	-	-	33	1,437	12,226	-	-4,468	-3,629	-461	-1,937	-1,800	-1,644	-2,740	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax provision
-150	-	-	-	-186	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax provision
-	-	-	-	-	-	-809	-1,358	-895	-	57,509	-1,378	-1,686	-	0	0	0	-	32,997	-21	-178	-1,702	0	0	0	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, excluding effect of acquisitions:
Accounts receivable
-4,432	2,895	1,775	2,377	3,575	1,556	74	-1,708	1,701	518	-683	38	642	608	-129	-280	273	282	-276	114	56	-230	410	-80	271	-	-	-	-	-	-	-	-
Accrued payroll
-407	1,249	2,165	2,340	-76	2,068	1,496	2,168	19	327	904	-1,747	1,436	0	0	1,321	-1,321	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Grants and accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-41	54	28	-48	74	-239
Prepaid expenses, deposits and other assets
-185	-3,182	-829	1,851	2,677	2,705	1,502	-2,689	1,286	2,555	-135	-858	107	-1,068	1,506	-338	-140	1,345	-535	332	-90	725	-115	201	168	93	-48	-262	658	-26	36	-10	-14
Deposits and other assets
-	-	-	-	-	-	-	-	-113	-	-52	-33	-148	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
728	1,439	3,127	9,094	-3,439	-3,655	7,559	1,499	-1,825	-2,980	5,635	-3,455	2,392	3,676	-3,046	1,297	1,787	-2,361	-673	226	95	206	252	25	-980	54	528	43	253	113	-29	-137	96
Acquisition consideration payable for Scilex
-	-	-	-	-	-	0	0	-2,020	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	157	143	-20	12	-16	16
Accrued expenses and other liabilities
-4,488	924	686	-6,240	8,691	467	8,712	-4,607	1,558	2,832	-1,707	1,990	-792	259	-667	2,358	-277	7,950	-7,039	10,390	-719	-	-	-	-596	-	-	-	-	-	-	-	-
Deferred revenue
-169	-364	-146	-116	-319	219	-1,367	-737	-1,378	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	359	-33	33	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-2,416	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-200
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13	-12	-12	9,888	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
-750	-	-	-	163	-	-	-	-	590	673	-417	-44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used for operating activities
-	-	-	-	-	-	-	-	-	-	-	-19,750	-21,914	-	-22,050	-12,176	-20,186	-	-18,355	1,295	-8,847	-7,656	-5,596	-6,388	-9,124	-	-	-	-	-	-	-	-
Net cash used for operating activities
-38,550	-36,022	-45,831	-46,834	-44,309	-44,978	-20,704	-22,122	-23,963	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,981	-3,815	-2,482	-538	-590	-1,186	-427
Investing activities
Purchases of property and equipment
21	1,860	2,094	2,260	5,228	5,447	2,936	2,364	448	1,601	2,588	2,622	4,161	3,172	1,458	1,634	596	1,757	1,450	157	343	158	235	104	94	61	181	21	157	241	61	613	135
Purchase of assets related to Semnur, net of cash acquired
-	-	-	-	17,040	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of assets related to Semnur, net of cash acquired
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	461	0	50	-	-	-	-
Investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	10,000	1,500	10,000	0	0	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-6,179	-4,161	-	-2,808	-1,634	-596	-	26,309	-10,157	-1,843	-10,158	-235	-104	-94	-	-	-	-	-	-	-	-
Net cash used for investing activities
-21	-10,389	-3,256	-2,260	-22,268	-5,447	-12,936	-2,364	-448	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-21	-207	-241	-61	-613	-135
Financing activities
Proceeds from equity offerings, net of issuance costs
-	-	-	-	-	-	13,208	9,315	48,958	-	2,046	45,598	30	2,509	9,726	92,265	3,486	0	0	0	0	-	-	-	-	31,347	0	0	6,354	1,971	0	0	-0
Proceeds from short-term debt
725	-	-	-	-	-	-	0	20,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options and warrants
13,634	8,562	-917	1,125	81	-92	141	7	155	0	0	0	0	70	41	138	275	21	571	818	289	304	0	0	0	10	0	0	7	-	-	-	-
Cash payments for treasury shares
-	-	-	-	-	-	-	-	-	-	-	-	-	0	15,639	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of debt on retired note
-	-	-	-	-	-	-	-	-	-	-	-	21,500	5,768	1,252	1,227	1,204	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of debt and other obligations
59,533	-	783	-260	1,178	-	0	0	0	-	-	-	-	-	-	-	-	-	1,157	758	0	-	-	-	-	-	-	-	-	-	-	-	-
Short-term loan repayment
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Scilex consideration for regulatory milestones
-	-	-	-	-	0	0	0	22,466	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net payments of deferred compensation
-	-	-	-	-	-	-	-	-	0	0	0	1,012	-	-	-	-	1,000	0	0	1,000	0	0	0	0	-	-	-	-	-	-	-	-
Net borrowings under loan and security agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	7,500	1,850	4,173	-49	876	-	-	-	-
Repayment of bridge loan for Scilex regulatory milestone
-	-	-	-	-	-	-	-20,000	20,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Oaktree Term Loans, net of issuance costs
-	-	-	-	-	-	0	0	1,586	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used for) financing activities
24,722	37,910	22,569	19,503	-1,097	83,295	167,299	47,171	28,233	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,237	1,976	0	7	-0
Net change in cash, cash equivalents and restricted cash
-13,849	-8,501	-26,518	-29,591	-67,674	32,870	133,659	22,685	3,822	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net effect of exchange rate changes on cash
27	-121	-218	5	57	19	-2	-153	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures:
Cash paid during the period for:
Income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	1	0	0	1	2,998	3	0	0	0	0	0	6	0	0	0	1	-	-	-	-
Interest
1,569	2,692	3,868	3,673	2,505	167	325	1,000	128	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest paid
-	-	-	-	-	-	-	-	-	-	-	744	1,300	-	198	273	307	854	720	-248	248	908	249	251	136	-48	39	8	1	-	-	-	-
Supplemental disclosures of non-cash investing and financing activities:
Semnur acquisition consideration paid in equity
-	0	-409	0	55,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Semnur acquisition costs incurred but not paid
-	0	0	0	601	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash consideration given
-	-	-	-	-	-	0	0	13,744	-	1,380	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Semnur acquisition non-cash consideration
-	-	-	-	-	-	-	-	0	-	0	15,465	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in unrealized gains or (losses) on marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11,237	-51,183	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
BDL stock issuance
-	-	-	-	-	-	0	0	2,340	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment costs incurred but not paid
628	-559	-1,263	1,140	1,531	269	-332	-574	965	-93	-292	-511	933	0	-578	566	12	2,081	-182	362	135	0	0	0	0	-	-	-	-	-	-	-	-
Reconciliation of cash, cash equivalents and restricted cash within the Company’s consolidated balance sheets:
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	45,598	-22,482	-	-7,124	91,176	2,557	-	-586	60	-711	45,447	-55	26,698	7,500	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	19,669	-48,557	-	-31,982	77,366	-18,225	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net effect of exchange rate changes on cash
-	-	-	-	-	-	-	-	-	-	-	93	78	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,368	-8,802	-11,401	-	-5,886	20,206	-1,718	25,237	676	-3,885	4,548	1,196	-651	-1,791	-563
Public Offering Of Common Stock And Warrants 2019
Proceeds from equity offerings, net of issuance costs
69,896	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-