Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (37,718,286) $ (47,705,458)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,429,550 2,522,496
Loss on disposal of property and equipment 27,017 13,200
Stock-based compensation 2,014,669 1,627,756
Gain on transfer of plasma assets (11,527,421) 0
Amortization of debt discount 719,607 808,671
Loss on extinguishment of debt 9,962,495 0
Amortization of license revenue (107,125) (107,125)
Changes in operating assets and liabilities:    
Accounts receivable (5,923,040) (246,640)
Inventories (21,870,736) (1,249,253)
Prepaid expenses and other current assets 44,081 (80,295)
Deposits and other assets 104,687 (20,116)
Accounts payable 3,059,511 (653,190)
Accrued expenses 1,326,363 1,013,003
Deferred Revenue 1,055,076 0
Other current and non-current liabilities (137,916) 191,393
Net cash used in operating activities (56,541,468) (43,885,558)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (2,217,542) (1,276,594)
Net cash provided by (used in) investing activities (2,217,542) (1,276,594)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on note payable (30,000,000) 0
Payment of end of term fee (2,760,000) 0
Payment of debt refinancing fees (6,499,867) 0
Proceeds from issuance of common stock, net of offering expenses 48,397,088 42,944,831
Proceeds from the exercise of stock options 75,048 6,328
Proceeds from issuance of note payable 72,500,000 0
Payment of debt issuance costs (1,679,661) 0
Payments on finance lease obligations (22,298) (9,395)
Payments of leasehold improvement loan 0 (19,697)
Net cash provided by financing activities 80,010,310 42,922,067
Net (decrease) increase in cash and cash equivalents 21,251,300 (2,240,085)
Cash and cash equivalents, including restricted cash - beginning of period 26,754,852 48,607,574
Cash and cash equivalents, including restricted cash - end of period $ 48,006,152 $ 46,367,489