XML 28 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net loss $ (74,356) $ (54,890) $ (46,964)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash other income, net (1,371) 996 144
Non-cash interest income   (52) (1)
Non-cash interest expense   35 21,465
Depreciation and amortization expense 432 233 153
Stock-based compensation 5,732 2,545 1,351
Deferred income taxes 1,410 (794) (627)
Other, net 131 1 (5)
Changes in operating assets and liabilities:      
Changes in long-term receivables (5) 10 (71)
Changes in other receivables (223) (1,932) (3,181)
Changes in accounts payable 2,585 (383) 2,651
Changes in accrued expenses and other liabilities (3,778) 6,034 3,971
Changes in other non-current liabilities 96 24 9
Changes in income tax liabilities (1) (152) (753)
Net cash used in operating activities (69,348) (48,325) (21,858)
Cash flows from investing activities      
Purchases of plant and equipment and intangible assets (1,173) (603) (216)
Purchases of available-for-sale securities   (57,035) (30,603)
Purchases of term deposits (30) (10) (45,885)
Proceeds from sale of property, plant and equipment 2    
Proceeds from maturities of term deposits   45,000  
Proceeds from sales of available-for-sale securities 50,950 36,000  
Net cash (used in) provided by investing activities 49,749 23,352 (76,704)
Cash flows from financing activities      
Proceeds from initial public offering     106,088
Proceeds from April 2015 financing     44,836
Proceeds from December 2016 financing   24,822  
Proceeds from September 2017 public offering 80,000    
Other proceeds from shareholders     29
Proceeds from silent partnership     943
Proceeds from long-term borrowings 228    
Proceeds from exercise of stock options 83 269 5
Proceeds from convertible loans     3,436
Repayments of participation rights     (6)
Repayments of long-term borrowings     (7,383)
Equity transaction costs (8,092) (2,790) (14,930)
Net cash provided by financing activities 72,219 22,301 133,018
Effects of foreign currency translation on cash and cash equivalents 1,371 (996) (160)
Net increase (decrease) in cash and cash equivalents 53,991 (3,668) 34,296
Cash and cash equivalents at beginning of year 32,778 36,446 2,150
Cash and cash equivalents at end of year 86,769 32,778 36,446
Supplemental disclosures of cash flow information:      
Interest paid (1) (41) (1,057)
Taxes paid (5) (867) $ (939)
Equity transaction costs included in accrued expenses $ 28 $ 1,451