Vaxart, inc. (VXRT)
CashFlow / Yearly
Dec'19Dec'18Dec'17Jun'17Jun'16Jun'15Jun'14Jun'13Jun'12Dec'11Jun'11Dec'10Dec'09
Cash flows from operating activities:
Net loss

-18,645

-18,007

-9,582

-29,400

-25,400

-19,100

-11,000

-8,900

-19,200

-

-25,400

-

-

Adjustments to reconcile net loss to net cash used in operating activities:
Bargain purchase gain

-

6,760

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

3,596

3,203

380

-

-

-

-

-

-

-

-

-

-

Loss (gain) on repurchase of convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-302

(Gain) loss on sale of equipment

1

-11

69

-

-

-

-

-

-

-47

-

4

-4

Impairment of intangible assets

-

1,600

-

-

-

-

-

-

-

-

-

-

-

Impairment of property and equipment and right-of-use assets

1,272

106

-

-

-

-

-

-

-

-

-

-

-

Impairment of property and equipment

1,272

106

-

-

-

-

-

-

-

-

-

-

-

Net loss from continuing operations

-

-

-

-

-

-

-

-

-

-7,513

-

878

-18,727

Depreciation and amortization

-

-

-

100

100

1,100

2,400

3,000

3,100

237

3,000

376

502

Non-cash intra-period tax allocation

-

-

-

-

-

-

-

-

-

-2,018

-

-

-

Accretion of discount on convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

-99

-483

Stock-based compensation

627

539

477

1,900

2,000

2,100

1,700

2,600

500

2,166

600

3,923

2,463

Loss on revaluation of financial instruments

-

-3

-

-

-

-

-

-

-

-

-

-

-

Amortization of discount on short-term investments

-

-

24

-

-

-

-

-

-

-

-

-

-

Loss (gain) on revaluation of financial instruments, net

-

-

3,347

-

-

-

-

-

-

-

-

-

-

Non-cash interest expense

88

448

2,557

-

-

-

-

-

-

-

-

-

-

Amortization of note discount

-

18

144

-

-

-

-

-

-

-

-

-

-

Loss on debt extinguishment

-100

-

-

-

-

-

-

-

-

-

-

-

-

Gain recorded on merger

-

-

-

-

-

-

-

-

-

-

0

-

-

Loss on disposal of assets

-

-

-

-

-

-200

0

0

-

-

-100

-

-

In-process research and development

-

-

-

-

-

17,600

0

0

-

-

-

-

-

Non-cash royalty revenue related to sale of future royalties

-

-

-

3,200

200

0

0

-

-

-

-

-

-

Non-cash interest expense related to sale of future royalties

2,073

1,859

-

1,800

300

0

0

-

-

-

-

-

-

Non-cash revenue related to sale of future royalties

3,482

18

-

-

-

-

-

-

-

-

-

-

-

Gain recorded on merger

-

-

-

-

-

-

-

7,600

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

-

-1,500

200

-

-400

-

-

Change in operating assets and liabilities:
Accounts receivable

1,823

-13,500

-960

-100

-11,900

-6,200

7,100

4,200

3,400

-

1,600

-

-

Receivables

-

-

-

-

-

-

-

-

-

-35

-

-8,093

6,685

Prepaid expenses and other assets

-855

873

-52

-2,000

2,100

-100

-1,400

600

-200

-1,080

400

-753

2,713

Accounts payable

-62

-3,784

-1,559

-

-

-

-

-

-

-

-

-

-

Accrued liabilities

2,312

-6,393

-77

-

-

-

-

-

-

-

-

-

-

Accounts payable, accrued expenses and other liabilities

-

-

-

-

-

-

-

-

-

-5,858

-

1,705

2,298

Deferred revenue

-

-

-

-

-

0

-300

-100

200

-7,797

-2,400

24,718

18,447

Accounts payable and accrued expenses

-

-

-

-3,300

-700

-15,800

10,600

2,800

2,900

-

-8,000

-

-

Accrued severance obligations

-

-

-

-

-

-2,000

-1,000

-2,400

-

-

-

-

-

Net cash used in operating activities

-

-

-

-30,000

-14,100

-9,600

-3,300

-

-

-19,621

-

40,541

-3,626

Net cash used in operating activities from discontinued operations

-

-

-

-

-

-

-

-

-

4,455

-

-609

9,843

Net cash used in operating activities

-13,090

-14,548

-10,040

-

-

-

-

-13,900

-15,900

-15,166

-33,700

39,932

6,217

Cash flows from investing activities:
Purchase of property and equipment

850

707

117

0

200

100

100

1,000

1,300

1

700

154

4

Call redemption of long-term investments

-

-

-

-

-

6,900

0

0

-

-

-

-

-

Sale of long-term investments

-

-

-

0

700

0

0

-

-

-

-

-

-

Proceeds from sales and maturities of marketable securities

-

-

-

-

-

-

-

-

-

66,624

-

142,693

55,833

Purchases of marketable securities

-

-

-

-

-

-

-

-

-

11,598

-

140,289

91,471

Proceeds from sale of equipment

-

-

-

-

-

400

0

0

-

224

-

50

-

Proceeds from sale of equipment

-

-

70

-

-

-

-

-

-

-

-

-

-

Acquisition of asset, net of cash acquired

-

-

-

-

-

8,900

0

0

-

-

-

-

-

Cash acquired in reverse merger

-

25,525

-

-

-

-

-

32,700

-

-

-

-

-

Cash paid for fractional shares in merger

-

21

-

-

-

-

-

-

-

-

-

-

-

Purchases of short-term investments

-

573

7,351

36,300

15,300

17,700

10,000

0

-

-

-

-

-

Proceeds from maturities of short-term investments

-

1,988

10,580

34,700

16,100

0

0

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-

-

-

-1,600

1,300

-19,400

-10,100

-

-

-

-

-

-

Net cash used in investing activities

-850

26,212

3,182

-

-

-

-

31,700

-1,300

55,249

-700

2,300

-35,642

Cash flows from financing activities:
Net proceeds from sale of future royalties

-

-

-

0

18,100

0

0

-

-

-

-

-

-

Payment for treasury shares

-

-

-

-

-

-

-

-

400

-

700

42,773

7,940

Net proceeds from issuance of securities in registered direct offering

2,540

-

-

-

-

0

26,800

0

-

663

700

645

528

Repayment of short-term note

-

214

-

400

300

100

0

0

-

-

-

-

-

Proceeds from issuance of common stock upon exercise of stock options

-

13

24

-

-

-

-

-

-

-

-

-

-

Exercise of pre-funded warrants

1,226

-

-

-

-

-

-

-

-

-

-

-

-

Exercise of common stock warrants

180

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of principal on secured promissory note payable to Oxford Finance

3,799

1,528

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-

-

-

-400

17,800

-100

26,800

-

-

-

-

-

-

Repurchase of convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

6,050

10,091

Net cash provided by financing activities

15,960

-1,729

24

-

-

-

-

0

-400

663

-

-48,178

-17,503

Net increase (decrease) in cash and cash equivalents

2,020

9,935

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-

-

-6,834

-32,000

5,000

-29,100

13,400

17,800

-17,600

40,746

-34,400

-5,946

-46,928

Effects of exchange rate movements on cash and cash equivalents

-

-

-

-

-

-7,900

1,500

-4,800

-2,800

-

18,800

-

-

Supplemental disclosure of cash flow information:
Interest paid

227

356

335

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock on merger

2,540

-

-

-

-

-

-

0

-

663

700

645

528

Proceeds to settle accrued severance obligations and other accrued liabilities on merger

-

-

-

-

-

-

-

5,700

-

-

-

-

-

Cash acquired on merger

-

25,525

-

-

-

-

-

32,700

-

-

-

-

-

Supplemental disclosure of non-cash financing activity:
Issuance of warrants to placement agent’s representatives

100

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of warrants to underwriters’ designees

830

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock upon reverse merger, net of cash paid for partial shares

-

31,768

-

-

-

-

-

-

-

-

-

-

-

Conversion of convertible promissory notes, related parties into common stock upon reverse merger

-

35,577

-

-

-

-

-

-

-

-

-

-

-

Reclassification of convertible preferred stock warrant liability to equity

-

70

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities arising from obtaining right-of-use assets

1,929

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of property and equipment included in accounts payable

4

52

-

-

-

7,500

0

0

-

-

-

-

-

Proceeds due for sale of property and equipment included in prepaid expenses and other current assets

3

-

-

-

-

-

-

-

-

-

-

-

-

The April 2019 Offering [Member]
Net proceeds from issuance of common stock, pre-funded warrants and common warrants in underwritten offering

8,074

-

-

-

-

-

-

-

-

-

-

-

-

The September 2019 Offering [Member]
Net proceeds from issuance of common stock, pre-funded warrants and common warrants in underwritten offering

7,739

-

-

-

-

-

-

-

-

-

-

-

-