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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Operating activities    
Net loss $ (39,421) $ (116,508)
Adjustments to reconcile net loss to net cash used for operating activities:    
Share-based compensation expense 6,207 23,733
Depreciation expense 2,188 4,552
Non-cash interest expense 6,379 8,775
Inventory fair value step-up adjustment included in cost of product sales 2,458  
Amortization of intangible assets 647  
Change in fair value of contingent value rights (800)  
Amortization of right-of-use lease assets 1,249 1,307
Loss on short-term investments 502  
Loss on disposal of property and equipment, net of gain on lease termination 10 24
Changes in operating assets and liabilities:    
Accounts receivable, net (1,687) (1,579)
Inventory, net (1,493) (191)
Prepaid expenses and other current assets 2,297 644
Accounts payable (2,815) (4,395)
Accrued expenses (5,781) 395
Accrued payroll and related expenses (5,454) 823
Lease liabilities (2,126) (2,530)
Net cash used for operating activities (37,640) (84,950)
Investing activities    
Acquisition of Tetraphase, net of cash, cash equivalents and restricted cash acquired (33,513)  
Purchases of short-term investments (2,999)  
Purchases of property and equipment   (698)
Proceeds from the sale of property and equipment 3,070  
Proceeds from the sale of short-term investments 2,497  
Net cash used for investing activities (30,945) (698)
Financing activities    
Net proceeds from issuance of common stock under 2013 Equity Plan 605 31
Net proceeds from issuance of common stock under ESPP 512 833
Net cash provided by financing activities 1,117 864
Net decrease in cash, cash equivalents and restricted cash (67,468) (84,784)
Cash, cash equivalents and restricted cash, beginning of period 88,729 173,513
Cash, cash equivalents and restricted cash, end of period 21,261 88,729
Supplemental disclosure of non-cash investing and financing activities    
Initial recognition of right-of-use lease asset 536 16,798
Conversion of Series F Convertible Preferred Stock into common stock   2,737
Cumulative-effect adjustment from adoption of ASU 2018-07   (160)
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets    
Cash and cash equivalents 21,221 87,820
Restricted cash 40 909
Cash, cash equivalents and restricted cash, end of period $ 21,261 $ 88,729