Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ 6,168,000 $ 8,714,000
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 177,000 72,000
Stock-based compensation expense 1,360,000 643,000
Amortization of debt discount and accretion related to debt 105,000 63,000
Change in common stock warrant fair value 4,000 (615,000)
Accretion of asset retirement obligations 11,000 8,000
Loss on extinguishment of debt 0 115,000
Loss on disposal of equipment 0 2,000
Changes in operating assets and liabilities:    
Prepaid expenses 239,000 (58,000)
Accounts receivable from related party (55,000) (4,000,000)
Other current assets (661,000) (71,000)
Other assets 321,000 0
Accounts payable 802,000 (355,000)
Accrued liabilities 622,000 110,000
Other current liabilities 0 34,000
Other liabilities (204,000) 198,000
Deferred revenue (7,529,000) 3,585,000
Net cash used in operating activities (10,976,000) (8,983,000)
Cash flows from investing activities:    
Purchases of property and equipment (625,000) (1,719,000)
Purchase of marketable securities (36,588,000) 0
Sales of marketable securities 1,293,000 0
Net cash used in investing activities (35,920,000) (1,719,000)
Cash flows from financing activities:    
Payments of capital lease obligations 0 (13,000)
Proceeds from issuance of long-term debt and warrants, net 0 4,537,000
Repayment of long-term debt 0 (3,605,000)
Proceeds from stock option exercises 38,000 148,000
Principal payments on finance leases (8,000) 0
Net cash provided by financing activities 30,000 1,067,000
Net decrease in cash, cash equivalents, and restricted cash (46,866,000) (9,635,000)
Cash, cash equivalents and restricted cash, beginning of period 87,721,000 58,910,000
Cash, cash equivalents and restricted cash, end of period 40,855,000 49,275,000
Supplemental Cash Flow Information    
Cash paid for interest $ 174,000 $ 51,000