XML 45 R8.htm IDEA: XBRL DOCUMENT v3.20.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (865) $ (13,018)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 456 369
Remeasurement of acquisition-related contingent consideration 2,478 2,134
Remeasurement of financing-related contingent consideration 310 307
Amortization of debt discount and debt issuance costs 1,573 1,445
Change in deferred tax and income tax deferred charge (8,440) (222)
Stock-based compensation expense 742 351
Loss on deconsolidation of subsidiary 0 1,750
Other adjustments 573 (541)
Net changes in assets and liabilities    
Accounts receivable (517) (1,021)
Inventories 47 467
Prepaid expenses and other current assets 899 (3,228)
Research and development tax credit receivable 160 (449)
Accounts payable & other current liabilities (1,187) 752
Accrued expenses (4,905) (4,750)
Accrued income taxes 2,253 (46)
Earn-out payments for contingent consideration in excess of acquisition-date fair value (1,774) (3,181)
Royalty payments for contingent consideration payable in excess of original fair value (291) (507)
Other assets and liabilities (3,148) (1,818)
Net cash used in operating activities (11,636) (21,206)
Cash flows from investing activities:    
Purchases of property and equipment 0 (30)
Proceeds from sales of marketable securities 14,788 34,864
Purchases of marketable securities (1,562) (13,444)
Net cash provided by investing activities 13,226 21,390
Cash flows from financing activities:    
Proceeds from the February 2020 private placement 60,733 0
Proceeds from stock option exercises and ESPP 1,477 92
Net cash provided by financing activities 62,210 92
Effect of foreign currency exchange rate changes on cash and cash equivalents (68) 29
Net change in cash and cash equivalents 63,732 305
Cash and cash equivalents at January 1, 9,774 9,325
Cash and cash equivalents at March 31, 73,506 9,630
Supplemental disclosures of cash flow information:    
Interest paid 3,234 3,234
Income taxes paid $ 0 $ 72