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SEC Filings

10-Q
ATHENEX, INC. filed this Form 10-Q on 05/09/2019
Entire Document
 

 

ATHENEX, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(unaudited)

(In thousands)

 

 

 

Three Months Ended March 31,

 

 

 

2019

 

 

2018

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(36,230

)

 

$

(7,339

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

879

 

 

 

868

 

Stock-based compensation expense

 

 

1,778

 

 

 

2,701

 

Amortization of debt discount

 

 

257

 

 

 

 

Deferred rent expense

 

 

 

 

 

168

 

Gain on disposal of assets

 

 

 

 

 

(62

)

Deferred income taxes

 

 

486

 

 

 

(321

)

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Receivables, net

 

 

(7,624

)

 

 

623

 

Prepaid expenses and other assets

 

 

(11,911

)

 

 

494

 

Inventories

 

 

3,596

 

 

 

(2,010

)

Accounts payable and accrued expenses

 

 

15,798

 

 

 

(7,848

)

Net cash used in operating activities

 

 

(32,971

)

 

 

(12,726

)

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchase of property and equipment

 

 

(918

)

 

 

(1,177

)

Payments for licenses

 

 

(4,175

)

 

 

 

Purchases of short-term investments

 

 

 

 

 

(67,256

)

Sale of short-term investments

 

 

57,291

 

 

 

11,633

 

Net cash provided by (used in) investing activities

 

 

52,198

 

 

 

(56,800

)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Proceeds from sale of stock

 

 

 

 

 

72,666

 

Proceeds from issuance of debt

 

 

743

 

 

 

 

Costs incurred related to the sale of stock

 

 

 

 

 

(4,611

)

Proceeds from exercise of stock options

 

 

278

 

 

 

1,263

 

Repayment of finance lease obligations and long-term debt

 

 

(45

)

 

 

(337

)

Net cash provided by financing activities

 

 

976

 

 

 

68,981

 

Net increase (decrease) in cash and cash equivalents

 

 

20,203

 

 

 

(545

)

Cash and cash equivalents, beginning of period

 

 

49,794

 

 

 

39,284

 

Effect of exchange rate changes on cash and cash equivalents

 

 

1,006

 

 

 

478

 

Cash and cash equivalents, end of period

 

$

71,003

 

 

$

39,217

 

Supplemental cash flow disclosures

 

 

 

 

 

 

 

 

Interest paid

 

$

981

 

 

$

13

 

Non-cash investing and financing activities:

 

 

 

 

 

 

 

 

Accrued purchases of property and equipment

 

$

634

 

 

$

104

 

Right-of-use assets recognized in exchange for new operating lease obligations

 

$

583

 

 

$

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

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