Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (16,100) $ (20,580)  
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation 39 35 $ 152
Share-based compensation expense 597 540  
Gain on short-term investments   (88)  
Non-cash gain on short-term investments   (9)  
Interest on short-term investments   (11)  
Amortization of debt discount and deferred financing costs 1,614 98  
Private placement transaction costs included in financing activities 2,130    
Adjustments to fair value of derivatives (1,679)    
Other 378 219  
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets 590 1,002  
Accounts payable (9,185) 2,135  
Accrued expenses (6,214) 1,662  
Income taxes 121 134  
Other liabilities (334) (190)  
Net cash used in operating activities (27,391) (15,053)  
Cash flows from investing activities:      
Purchases of property and equipment   (10)  
Proceeds from sale of short-term investments   35,100  
Net cash provided by investing activities   35,090  
Cash flows from financing activities:      
Repayments of long-term debt (1,552)    
Proceeds from private placement, net of transactions costs 47,423    
Proceeds from exercise of share options   49  
Net cash provided by financing activities 45,871 49  
Effect of exchange rates on cash and cash equivalents (24) (34)  
Net increase in cash, cash equivalents and restricted cash 18,456 20,052  
Cash, cash equivalents and restricted cash, at beginning of period 4,891 44,671 44,671
Cash, cash equivalents and restricted cash, at end of period 23,347 64,723 $ 4,891
Supplemental Disclosure of Cash Flow Information:      
Interest paid 294 $ 350  
Exchangeable Notes      
Adjustments to reconcile net loss to cash used in operating activities:      
Interest on exchangeable notes - non-cash $ 652