Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net loss $ (26,580) $ (13,557) $ (12,332)
Reconciliation of net loss to net cash used in operating activities      
Depreciation 2,908 687 89
Amortization of intellectual property 163 128 110
Accretion of asset retirement obligation 31    
Fair value of warrants issued for consulting services   138 65
Fair value of common stock issued for consulting services     98
Stock based compensation 1,081 1,060 301
Increase in fair value of derivative liabilities     5,776
Amortization of debt discount 360 54 909
Amortization of deferred financing costs 83 62 5
Non-cash convertible note interest expense 618 343 214
Impairment of acquired intellectual property 2,411    
Loss on sale of equipment 76    
Inventory write down 456    
Changes in operating assets and liabilities      
Accounts receivable (882)    
Inventory (1,636) (59)  
Prepaid expenses and other current assets 236 (394) (95)
Accounts payable 926 (176) 3,152
Accrued expenses 924 564 68
Deferred rent (177) 29 164
Net cash used in operating activities (19,002) (11,121) (1,476)
Cash flows from investing activities:      
Decrease (increase) in restricted cash 1,124 7,899 (11,667)
Purchases of property and equipment (8,819) (26,512) (11,637)
Proceeds from sale of equipment 4    
Other assets (345) (250) (1,594)
Intellectual property related expenditures (615) (200) (146)
Net cash used in investing activities (8,651) (19,063) (25,044)
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of transaction costs 25,325 30,709 32,862
Proceeds from issuance of notes payable, net of issuance costs     9,262
Payments on notes payable (201) (14)  
Payments on capital leases (136) (52)  
Proceeds from issuance of convertible notes payable, net of issuance costs   4,858  
Net cash provided by financing activities 24,988 35,501 42,124
Net (decrease) increase in cash and cash equivalents (2,665) 5,317 15,604
Cash and cash equivalents at beginning of period 25,458 20,141 4,537
Cash and cash equivalents at end of period 22,793 25,458 20,141
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 699 330 103
Cash paid for income taxes 2 1 2
Non-cash investing activities      
Tenant improvement allowances   78 869
Non-cash financing activities      
Capital lease   310  
Fair value of consulting warrants   138 65
Fair value of financing warrants   229 881
Fair value of common stock issued upon conversion of convertible notes and accrued interest     6,279
Fair value of common stock issued upon extinguishment of beneficial conversion feature derivative liability     6,280
Fair value of common stock issued to consultants     98
Total non-cash financing activities   677 $ 13,603
Supplemental disclosure of non-cash transactions      
Change in property and equipment resulting from change in accounts payable (1,062) 1,200  
Change in property and equipment resulting from change in accrued expenses (1,098) 1,330  
Decrease in restricted cash resulting from a decrease in accounts payable   2,644  
Recognition of convertible debt discount   $ 4,975  
Asset retirement obligation offset with asset retirement cost (property and equipment) 670    
Fair value of common stock issued for intellectual property $ 2,149