v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (19,245,230) $ (13,067,955)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 788,838 805,330
Loss on disposal of fixed assets 976 391
Stock-based compensation 676,548 637,263
Gain on transfer of plasma assets 0 (11,527,421)
Amortization of debt discount 429,711 244,767
Loss on extinguishment of debt 0 9,962,495
Amortization of license revenue (35,708) (35,708)
Changes in operating assets and liabilities:    
Accounts receivable (3,637,915) 82,037
Inventories 775,932 (25,310)
Prepaid expenses and other current assets (2,321,751) (289,134)
Deposits and other assets (79,532) 179,644
Accounts payable (22,356) (420,601)
Accrued expenses (1,930,591) (762,541)
Other current and non-current liabilities (45,882) (70,442)
Net cash used in operating activities (24,646,960) (14,287,184)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (2,074,876) (110,453)
Proceeds from the sale of property and equipment 2,000 0
Net cash provided by (used in) investing activities (2,072,876) (110,453)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on note payable 0 (30,000,000)
Payment of end of term fee 0 (2,760,000)
Payment of debt refinancing fees 0 (6,499,867)
Proceeds from issuance of note payable 12,500,000 45,000,000
Payment of debt issuance costs 0 (1,555,762)
Proceeds from issuance of common stock, net of offering expenses 88,704,039 0
Proceeds from the exercise of stock options 7,177 0
Payments on finance lease obligations (7,816) (7,308)
Net cash provided by financing activities 101,203,400 4,177,063
Net (decrease) increase in cash and cash equivalents 74,483,564 (10,220,574)
Cash and cash equivalents, including restricted cash - beginning of period 26,752,135 26,754,852
Cash and cash equivalents, including restricted cash - end of period $ 101,235,699 $ 16,534,278

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