SORRENTO THERAPEUTICS, INC. SRNE Cash Flow

Sorrento therapeutics, inc. (SRNE)

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'11	Sep'11	Jun'11	Mar'11
Operating activities
Net loss
-285,663	-363,012	-347,303	-322,545	-325,507	-212,526	-110,610	-58,704	1,364	11,109	-55,014	-40,723	-70,453	-63,937	-72,612	-90,434	-56,923	-50,074	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-3,236	0	0	0
Adjustments to reconcile net loss to net cash used for operating activities:
Depreciation and amortization
10,576	10,989	11,550	11,497	10,960	9,494	8,059	7,881	7,689	7,138	6,933	4,972	3,794	2,885	1,756	2,044	2,092	2,370	2,649	3,044	3,233	3,184	0	0	0	-	-	-	-	-	-	-	-
Non-cash operating lease cost
3,603	4,053	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest expense and amortization of debt issuance costs
20,712	22,526	25,083	20,387	59,303	53,391	45,155	45,512	1,781	1,803	903	604	411	164	275	313	359	392	418	445	458	451	296	192	84	0	0	0	0	-	-	-	-
Loss on disposals
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquired in-process research and development
-	75,301	75,718	85,196	85,196	9,895	0	0	0	-	-	-	-	-	-	42,000	15,000	12,000	13,855	0	0	209	0	0	0	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on sale of marketable securities
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on trading securities
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	159	0	0	0
Stock-based compensation
14,354	12,648	10,996	8,259	6,588	6,206	5,204	5,236	5,204	4,952	5,235	4,976	4,903	4,741	4,931	6,533	6,716	6,972	6,264	4,237	3,473	3,940	4,326	3,892	3,444	1,789	0	0	0	298	0	0	0
Loss on partial debt settlement
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	30	30	31	5	28	28	28	33	0	0	0	-	-	-	-	-	-	-	-
(Gain) Loss on derivative liabilities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on equity method investments
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on expiration of derivative liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on derivative liabilities
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on equity method investments
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on equity method investments
-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	-4,540	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on contingent liabilities and acquisition consideration payable
-	-	-	-	-	-	0	0	12,687	-	-10,495	-7,827	-5,842	-8,121	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax provision
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax provision
-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	33,515	-	31,096	-1,901	-1,880	-1,702	0	0	0	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, excluding effect of acquisitions:
Accounts receivable
2,615	10,622	9,283	7,582	3,497	1,623	585	-172	1,574	515	605	1,159	841	472	146	-1	393	176	-336	350	156	371	0	0	0	-	-	-	-	-	-	-	-
Accrued payroll
5,347	5,678	6,497	5,828	5,656	5,751	4,010	3,418	-497	920	593	-311	2,757	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Grants and accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-184	0	0	0
Prepaid expenses, deposits and other assets
-2,345	517	6,404	8,735	4,195	2,804	2,654	1,017	2,848	1,669	-1,954	-313	207	-40	2,373	332	1,002	1,052	432	852	721	979	347	414	-49	441	0	0	0	-15	0	0	0
Deposits and other assets
-	-	-	-	-	-	-	-	-198	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
14,388	10,221	5,127	9,559	1,964	3,578	4,253	2,329	-2,625	1,592	8,248	-433	4,319	3,714	-2,323	50	-1,021	-2,713	-146	779	578	-497	-649	-373	-355	878	0	0	0	42	0	0	0
Acquisition consideration payable for Scilex
-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-7	0	0	0
Accrued expenses and other liabilities
-9,118	4,061	3,604	11,630	13,263	6,130	8,495	-1,924	4,673	2,323	-250	790	1,158	1,673	9,364	2,992	11,024	10,582	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
Deferred revenue
-795	-945	-362	-1,583	-2,204	-3,263	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-200	0	0	0
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,851	9,864	9,876	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
0	-	-	-	0	-	-	-	-	802	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used for operating activities
-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	-53,408	-	-33,563	-20,804	-28,487	-28,764	0	0	0	-	-	-	-	-	-	-	-
Net cash used for operating activities
-167,237	-172,996	-181,952	-156,825	-132,113	-111,767	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-2,743	0	0	0
Investing activities
Purchases of property and equipment
6,235	11,442	15,029	15,871	15,975	11,195	7,349	7,001	7,259	10,972	12,543	11,413	10,425	6,860	5,445	5,437	3,960	3,707	2,108	893	840	591	494	440	357	420	0	0	0	1,051	0	0	0
Purchase of assets related to Semnur, net of cash acquired
-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of assets related to Semnur, net of cash acquired
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	511	0	0	0	-	-	-	-
Investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,500	21,500	21,500	11,500	10,000	0	0	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	13,799	-	4,151	-22,393	-12,340	-10,591	0	0	0	-	-	-	-	-	-	-	-
Net cash used for investing activities
-15,926	-38,173	-33,231	-42,911	-43,015	-21,195	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-1,051	0	0	0
Financing activities
Proceeds from equity offerings, net of issuance costs
-	-	-	-	-	-	0	0	106,856	-	50,183	57,863	104,530	107,986	105,477	95,751	3,486	0	0	0	0	-	-	-	-	37,701	0	0	0	1,970	0	0	0
Proceeds from short-term debt
0	-	-	-	-	-	-	20,000	20,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options and warrants
22,404	8,851	197	1,255	137	211	303	162	155	0	70	111	249	524	475	1,005	1,685	1,699	1,982	1,411	593	304	10	10	10	17	0	0	0	-	-	-	-
Cash payments for treasury shares
-	-	-	-	-	-	-	-	-	-	-	-	-	15,639	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of debt on retired note
-	-	-	-	-	-	-	-	-	-	-	-	29,747	9,451	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of debt and other obligations
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Short-term loan repayment
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Scilex consideration for regulatory milestones
-	-	-	-	-	22,466	22,466	22,466	22,466	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net payments of deferred compensation
-	-	-	-	-	-	-	-	-	1,012	0	0	0	-	-	-	-	2,000	1,000	1,000	1,000	0	0	0	0	-	-	-	-	-	-	-	-
Net borrowings under loan and security agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,500	9,350	13,523	13,474	6,850	0	0	0	-	-	-	-
Repayment of bridge loan for Scilex regulatory milestone
-	-	-	-	-	-	-	0	0	-	-	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
104,704	78,885	124,270	269,000	296,668	325,998	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,984	0	0	0
Net change in cash, cash equivalents and restricted cash
-78,459	-132,284	-90,913	69,264	121,540	193,036	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net effect of exchange rate changes on cash
-307	-277	-137	79	-79	-135	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures:
Cash paid during the period for:
Income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	2	2,999	3,002	3,002	3,001	3	0	0	6	6	6	6	1	0	0	0	-	-	-	-
Interest
11,802	12,738	10,213	6,670	3,997	1,620	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest paid
-	-	-	-	-	-	-	-	-	-	-	0	2,335	-	1,632	2,154	1,633	1,574	1,628	1,157	1,656	1,544	588	378	135	0	0	0	0	-	-	-	-
Supplemental disclosures of non-cash investing and financing activities:
Semnur acquisition consideration paid in equity
-	54,591	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Semnur acquisition costs incurred but not paid
-	601	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash consideration given
-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Semnur acquisition non-cash consideration
-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in unrealized gains or (losses) on marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
BDL stock issuance
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment costs incurred but not paid
-54	849	1,677	2,608	894	328	-34	6	69	37	130	-156	921	0	2,081	2,477	2,273	2,396	315	497	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
-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	-79	-	44,210	44,741	71,379	79,590	0	0	0	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	0	13,028	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net effect of exchange rate changes on cash
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	37,839	44,401	20,310	26,576	0	0	0	-1,811	0	0	0
Public Offering Of Common Stock And Warrants 2019
Proceeds from equity offerings, net of issuance costs
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-