| Mar'19 | Mar'18 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-111,346 | -37,074 | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
180 | 12 | |||||
Share-based compensation expense | ||||||
3,978 | 3,171 | |||||
Amortization of debt discount and issuance costs | ||||||
92 | - | |||||
Unrealized foreign currency translation adjustment | ||||||
-262 | -32 | |||||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
7,462 | 5,187 | |||||
Other assets | ||||||
4 | 84 | |||||
Due to Roivant Sciences Ltd. | ||||||
-1,467 | 640 | |||||
Accounts payable | ||||||
1,092 | 817 | |||||
Accrued expenses | ||||||
5,639 | 3,587 | |||||
Net cash used in operating activities | ||||||
-109,036 | -34,086 | |||||
Cash flows from investing activities: | ||||||
Purchases of furniture and equipment | ||||||
593 | 522 | |||||
Net cash used in investing activities | ||||||
-593 | -522 | |||||
Cash flows from financing activities: | ||||||
Proceeds from capital contributions from Roivant Sciences Ltd. | ||||||
41,631 | 37,035 | |||||
Cash proceeds from debt financing, net of financing costs | ||||||
14,069 | - | |||||
Proceeds from issuance of common shares in initial public offering, net of offering costs | ||||||
132,931 | - | |||||
Net cash provided by financing activities | ||||||
188,631 | 37,035 | |||||
Net change in cash, cash equivalents and restricted cash | ||||||
79,002 | 2,427 | |||||
Non-cash financing activities: | ||||||
Shareholder receivable for the sale of intellectual property rights in China recorded as a deemed capital contribution (see Note 6[B]) | ||||||
- | 1,310 | |||||
Warrants issued with long-term debt | ||||||
240 | - | |||||
Deferred financing costs included in accounts payable and accrued expenses | ||||||
387 | - | |||||
Supplemental disclosure of cash paid: | ||||||
Income taxes | ||||||
178 | 20 | |||||
Interest | ||||||
169 | - | |||||