Sorrento Therapeutics, Inc(NASDAQ:SRNE) 
Sorrento Therapeutics, Inc., a clinical stage and commercial biopharmaceutical company, develops therapies for cancer, autoimmune, inflammatory, viral, and neurodegenerative diseases. It operates through two segments, Sorrento Therapeutics and Scilex. The company provides cancer therapeutics by leve...
Website: http://www.sorrentotherapeutics.com
Founded: 1989
Full Time Employees: 502 (May 2021)
Sector: Healthcare
Industry: Biotechnology
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At a glance:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 |
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revenues: | |||||||||||||||||||
net product revenues | 12,605,000 | 10,597,000 | 12,765,000 | 13,649,000 | 8,591,000 | 9,990,000 | 6,296,000 | 7,562,000 | 7,854,000 | 7,023,000 | 7,712,000 | 7,874,000 | 5,794,000 | 5,248,000 | 2,967,000 | 3,810,000 | |||
service revenues | 2,420,000 | 5,654,000 | 2,829,000 | 3,751,000 | 2,870,000 | 8,395,000 | 6,780,000 | 4,500,000 | 5,657,000 | 7,232,000 | 3,793,000 | 3,879,000 | 3,213,000 | 2,473,000 | 1,632,500 | 1,968,000 | |||
total revenues | 15,025,000 | 16,251,000 | 15,594,000 | 17,400,000 | 11,461,000 | 18,385,000 | 13,076,000 | 12,062,000 | 13,511,000 | 14,255,000 | 11,505,000 | 11,753,000 | 9,007,000 | 7,721,000 | 4,599,500 | 5,778,000 | 6,477,000 | 6,143,000 | |
yoy | 31.10% | -11.61% | 19.26% | 44.25% | -15.17% | 28.97% | 13.65% | 2.63% | 50.01% | 84.63% | 150.14% | 103.41% | 39.06% | 25.69% | |||||
qoq | -7.54% | 4.21% | -10.38% | 51.82% | -37.66% | 40.60% | 8.41% | -10.72% | -5.22% | 23.90% | -2.11% | 30.49% | 16.66% | 67.87% | -20.40% | -10.79% | 5.44% | ||
operating costs and expenses: | |||||||||||||||||||
cost of products sold | 6,564,000 | 3,881,000 | 3,909,500 | 7,283,000 | 3,393,000 | 2,878,000 | 637,250 | 1,172,000 | 525,000 | 852,000 | 449,000 | 549,000 | 699,000 | 548,000 | 967,000 | 2,839,000 | |||
cost of services | 1,889,000 | 1,305,000 | 447,000 | 985,000 | 2,311,000 | 2,880,000 | 1,835,000 | 2,215,000 | 2,596,000 | 2,534,000 | 2,228,000 | 2,122,000 | 1,550,000 | 1,891,000 | -643,000 | 2,387,000 | |||
research and development | 33,271,000 | 43,805,000 | 41,044,000 | 67,989,000 | 48,467,000 | 63,977,000 | 59,135,000 | 49,448,000 | 54,506,000 | 43,833,000 | 34,033,000 | 32,003,000 | 24,150,000 | 21,154,000 | 28,963,000 | 27,573,000 | 24,759,000 | 25,584,000 | |
acquired in-process research and development | 12,272,000 | 600,000 | 11,125,000 | 4,971,000 | 7,512,000 | 3,227,000 | 34,884,000 | 4,881,000 | 75,301,000 | ||||||||||
selling, general and administrative | 48,941,000 | 54,980,000 | 39,464,000 | 50,159,000 | 48,136,000 | 44,327,000 | 54,580,000 | 48,489,000 | 50,393,000 | 43,394,000 | 41,152,000 | 24,265,000 | 24,463,000 | 26,299,000 | 25,429,000 | 25,234,000 | 27,772,000 | ||
intangible amortization | 1,127,000 | 1,127,000 | 1,129,000 | 1,127,000 | 1,035,000 | 1,034,000 | 1,035,000 | 1,000,000 | 1,070,000 | 1,035,000 | 1,035,000 | 1,034,000 | 992,000 | 992,000 | 992,000 | 991,000 | 992,000 | 966,000 | |
increase on contingent consideration | 3,800,000 | -8,300,000 | -700,000 | -64,300,000 | |||||||||||||||
loss on impairment of intangible assets | 466,000 | 11,900,000 | 33,410,000 | 90,780,000 | |||||||||||||||
legal settlement | 1,797,000 | ||||||||||||||||||
total operating costs and expenses | 92,258,000 | 122,595,000 | 185,221,000 | 126,843,000 | 129,822,000 | 125,268,000 | 127,685,000 | 113,449,000 | 114,061,000 | 99,160,000 | 82,028,000 | 94,857,000 | 56,735,000 | 50,884,000 | 45,613,000 | 59,061,000 | 56,838,000 | 129,313,000 | |
income from operations | -77,233,000 | -106,344,000 | -169,627,000 | -109,443,000 | -118,361,000 | -106,883,000 | -114,609,000 | -101,387,000 | -100,550,000 | -84,905,000 | -70,523,000 | -83,104,000 | -47,728,000 | -43,163,000 | -32,579,000 | -53,283,000 | -50,361,000 | -123,170,000 | |
yoy | -34.75% | -0.50% | 48.00% | 7.95% | 17.71% | 25.89% | 62.51% | 22.00% | 110.67% | 96.71% | 116.47% | 55.97% | -5.23% | -64.96% | |||||
qoq | -27.37% | -37.31% | 54.99% | -7.53% | 10.74% | -6.74% | 13.04% | 0.83% | 18.43% | 20.39% | -15.14% | 74.12% | 10.58% | 32.49% | -38.86% | 5.80% | -59.11% | ||
operating margin % | -514.03% | -654.38% | -1087.77% | -628.98% | -1032.73% | -581.36% | -876.48% | -840.55% | -744.21% | -595.62% | -612.98% | -707.09% | -529.90% | -559.03% | -708.32% | -922.17% | -777.54% | -2005.05% | |
gain on derivative liabilities | -20,000 | -1,280,000 | 2,016,000 | 500,000 | -2,700,000 | 7,500,000 | -400,000 | -1,800,000 | -300,000 | 2,200,000 | 700,000 | -1,000,000 | 1,980,000 | 4,920,000 | |||||
loss on marketable and equity investments | -1,777,000 | ||||||||||||||||||
loss on debt extinguishment | -40,000 | -471,000 | -5,262,000 | -584,000 | -6,111,000 | -28,294,000 | |||||||||||||
loss on foreign currency exchange | 157,000 | -4,000 | -561,000 | -540,000 | -411,000 | ||||||||||||||
interest expense | -2,668,000 | -1,132,000 | -2,219,000 | -792,000 | -2,314,000 | -3,249,000 | -2,942,000 | -2,900,000 | -2,016,000 | -2,366,000 | -2,495,000 | -2,563,000 | -8,297,000 | -6,825,000 | -8,080,000 | -9,459,000 | -9,520,000 | -9,080,000 | |
other loss | -4,321,000 | -78,000 | |||||||||||||||||
reorganization items | -22,003,000 | -20,231,000 | |||||||||||||||||
loss before income tax | -107,865,000 | -142,790,000 | -210,499,000 | -91,702,000 | -220,599,000 | -178,068,000 | -119,773,000 | -167,340,000 | -73,068,000 | -86,398,000 | -82,213,000 | -68,900,000 | -69,110,000 | -74,002,000 | -70,654,000 | -145,810,000 | |||
income tax expense | 671,000 | 11,468,000 | -1,050,000 | 1,463,000 | -115,250 | 386,000 | -512,500 | 145,000 | |||||||||||
gain on equity method investments | 750 | 62,000 | 72,000 | -69,250 | 164,000 | ||||||||||||||
net income | -108,536,000 | -154,626,000 | -227,114,000 | -90,625,000 | -219,477,000 | -40,540,000 | -144,862,000 | -119,995,000 | -166,699,000 | 2,418,000 | -73,127,000 | -87,109,000 | -84,993,000 | -69,180,000 | -69,426,000 | -75,212,000 | -71,845,000 | -146,529,000 | |
yoy | -50.55% | 281.42% | 56.78% | -24.48% | 31.66% | -1776.59% | 98.10% | 37.75% | 96.13% | -103.50% | 5.33% | 15.82% | 18.30% | -52.79% | |||||
qoq | -29.81% | -31.92% | 150.61% | -58.71% | 441.38% | -72.01% | 20.72% | -28.02% | -6994.09% | -103.31% | -16.05% | 2.49% | 22.86% | -0.35% | -7.69% | 4.69% | -50.97% | ||
net income margin % | -722.37% | -951.49% | -1456.42% | -520.83% | -1914.99% | -220.51% | -1107.85% | -994.82% | -1233.80% | 16.96% | -635.61% | -741.16% | -943.63% | -896.00% | -1509.42% | -1301.70% | -1109.23% | -2385.30% | |
net loss attributable to noncontrolling interests | -13,324,000 | -3,422,000 | -1,049,000 | -718,000 | -445,000 | -192,000 | -84,000 | -92,000 | -1,625,000 | -3,086,000 | -7,253,000 | -3,985,000 | -16,084,500 | -10,797,000 | -15,083,000 | -38,458,000 | |||
net loss attributable to sorrento | -95,212,000 | -139,616,000 | -223,692,000 | -89,576,000 | -218,759,000 | -144,417,000 | -119,803,000 | -166,615,000 | -71,502,000 | -84,023,000 | -77,740,000 | -65,195,000 | -57,312,000 | -64,415,000 | -56,762,000 | -108,071,000 | |||
net income per share | -0.17 | -0.26 | -0.49 | -0.2 | -0.54 | -0.12 | -0.47 | -0.4 | -0.57 | 0.01 | -0.25 | -0.33 | -0.36 | -0.36 | -0.37 | -0.49 | -0.46 | -0.88 | |
weighted-average shares used for eps calculation | 551,281 | 543,137 | 451,621 | 402,801 | 337,123 | 299,276 | 290,003 | 280,604 | 251,211 | 216,956 | 182,609 | 130,800 | 122,549 | 122,281 | |||||
gain on marketable and equity investments | -13,683,000 | ||||||||||||||||||
other income | -76,000 | 1,345,000 | 74,000 | -700,000 | 17,000 | 13,250 | 97,000 | 34,000 | -1,557,000 | 238,000 | |||||||||
loss on equity method investments | -368,000 | -131,000 | -22,000 | -419,000 | -23,000 | -566,000 | -4,699,000 | -556,000 | -7,000 | -1,431,000 | -1,574,000 | -897,000 | |||||||
net income attributable to noncontrolling interests | -15,010,000 | 275,000 | |||||||||||||||||
gain on marketable investments | -10,760,500 | -16,084,000 | -95,492,000 | 68,534,000 | 4,261,750 | -13,483,000 | |||||||||||||
gain on debt extinguishment | -692,000 | 33,433,000 | |||||||||||||||||
gain on foreign currency exchange | 111,250 | 610,000 | 397,000 | -132,000 | -300,000 | -1,000 | 805,000 | 30,000 | 124,000 | -147,000 | -154,750 | -521,000 | 313,000 | ||||||
income tax benefit | -1,814,000 | -1,015,000 | -641,000 | -206,000 | -1,919,000 | -276,000 | 309,000 | -221,000 | -383,000 | -178,000 | |||||||||
gain on contingent consideration | -2,100,000 | ||||||||||||||||||
income before income tax | -38,946,000 | 2,212,000 | |||||||||||||||||
net income attributable to sorrento | -40,815,000 | 2,510,000 | |||||||||||||||||
gain on marketable investment | -63,901,000 | 94,431,000 | |||||||||||||||||
interest income | 2,000 | 1,000 | 2,000 | 19,000 | 70,000 | 182,000 | 305,000 | 534,000 | |||||||||||
gain on trading securities | -59,000 | -76,000 | 94,000 | ||||||||||||||||
loss on partial debt settlement | -23,645,000 | ||||||||||||||||||
loss on contingent liabilities and acquisition consideration payable | -11,193,000 | 37,000 | 34,000 | ||||||||||||||||
loss on trading securities | -221,000 | ||||||||||||||||||
loss on derivative liabilities | -8,948,000 | -10,700,000 | -10,591,000 | ||||||||||||||||
royalty and license | 120,000 | 120,000 | |||||||||||||||||
sales and services | 6,357,000 | 6,023,000 | |||||||||||||||||
costs of revenues | 3,281,000 | 2,308,000 | |||||||||||||||||
general and administrative | 25,122,000 | ||||||||||||||||||
loss on contingent liabilities | 32,000 | ||||||||||||||||||
loss on derivative liability | -14,501,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 |
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current assets: | |||||||||||||||||||
cash and cash equivalents | 69,749,000 | 37,655,000 | 23,634,000 | 70,686,000 | 70,345,000 | 111,906,000 | 36,665,000 | 39,735,000 | 77,291,000 | 41,678,000 | 56,464,000 | 75,176,000 | 24,388,000 | 21,897,000 | 22,521,000 | 34,649,000 | 61,385,000 | 90,971,000 | 158,738,000 |
marketable investments | 10,886,000 | 12,662,000 | 26,344,000 | 47,175,000 | 63,259,000 | 158,751,000 | 90,217,000 | 122,934,000 | |||||||||||
accounts receivables | 32,725,000 | 26,524,000 | 24,469,000 | 24,190,000 | 24,715,000 | 24,674,000 | 18,715,000 | 16,454,000 | 22,437,000 | 16,309,000 | 15,506,000 | 14,768,000 | 13,801,000 | 10,023,000 | 14,454,000 | 11,560,000 | |||
inventory | 9,651,000 | 11,308,000 | 9,976,000 | 17,961,000 | 20,697,000 | 14,086,000 | 8,106,000 | 5,427,000 | 2,684,000 | 1,779,000 | 1,831,000 | 2,144,000 | 2,447,000 | 3,038,000 | 3,362,000 | 4,335,000 | 6,631,000 | 4,568,000 | |
prepaid expenses | 5,222,000 | 7,827,000 | 8,807,000 | 7,937,000 | 8,960,000 | 13,558,000 | 11,804,000 | 12,196,000 | 11,656,000 | 7,656,000 | 8,712,000 | ||||||||
other current assets | 4,878,000 | 4,784,000 | 3,143,000 | 9,008,000 | 8,072,000 | 8,140,000 | 7,482,000 | 3,974,000 | 6,784,000 | 3,848,000 | 3,721,000 | ||||||||
total current assets | 133,111,000 | 100,760,000 | 96,373,000 | 176,957,000 | 196,048,000 | 331,115,000 | 172,989,000 | 200,720,000 | 155,262,000 | 265,701,000 | 86,234,000 | 105,988,000 | 55,001,000 | 49,632,000 | 67,588,000 | 67,568,000 | 93,506,000 | 118,579,000 | 179,564,000 |
property and equipment | 53,237,000 | 54,861,000 | 51,971,000 | 43,634,000 | 42,530,000 | 41,705,000 | 41,325,000 | 45,750,000 | 45,991,000 | 34,681,000 | 31,861,000 | 29,454,000 | 27,523,000 | 28,470,000 | 29,888,000 | 30,338,000 | 30,829,000 | 28,900,000 | 24,384,000 |
operating lease right-of-use assets | 53,408,000 | 85,398,000 | 86,464,000 | 85,261,000 | 86,094,000 | 84,894,000 | 85,173,000 | 76,674,000 | 37,769,000 | 39,011,000 | 42,052,000 | 44,833,000 | 45,070,000 | 46,329,000 | 46,384,000 | 47,799,000 | 46,686,000 | 43,292,000 | |
intangibles | 122,283,000 | 123,875,000 | 136,902,000 | 171,440,000 | 172,566,000 | 258,671,000 | 259,705,000 | 320,970,000 | 322,005,000 | 72,640,000 | 73,675,000 | 79,967,000 | 61,324,000 | 62,316,000 | 63,308,000 | 64,299,000 | 64,825,000 | 65,817,000 | 66,283,000 |
goodwill | 80,269,000 | 80,269,000 | 80,269,000 | 80,199,000 | 81,351,000 | 79,525,000 | 79,525,000 | 52,892,000 | 52,892,000 | 43,554,000 | 43,554,000 | 38,298,000 | 38,298,000 | 38,298,000 | 38,298,000 | 38,298,000 | 38,298,000 | 38,298,000 | 38,298,000 |
equity investments | 12,008,000 | 12,008,000 | 17,176,000 | 55,605,000 | 50,739,000 | 50,667,000 | 51,271,000 | 51,120,000 | 162,956,000 | 155,979,000 | 256,397,000 | 256,420,000 | |||||||
other assets | 2,376,000 | 2,892,000 | 3,685,000 | 2,518,000 | 2,804,000 | 9,059,000 | 4,830,000 | 4,664,000 | 2,049,000 | 2,049,000 | 2,049,000 | ||||||||
total assets | 456,692,000 | 460,063,000 | 472,840,000 | 615,614,000 | 632,132,000 | 855,636,000 | 694,818,000 | 752,790,000 | 778,924,000 | 613,615,000 | 535,822,000 | 602,085,000 | 533,068,000 | 536,553,000 | 557,632,000 | 560,875,000 | 587,043,000 | 609,474,000 | 624,087,000 |
liabilities and stockholders’ equity | |||||||||||||||||||
current liabilities: | |||||||||||||||||||
accounts payable | 18,554,000 | 14,590,000 | 47,515,000 | 38,391,000 | 24,937,000 | 25,018,000 | 27,414,000 | 27,839,000 | 33,969,000 | 25,060,000 | 24,706,000 | 22,849,000 | 26,605,000 | 28,986,000 | 27,630,000 | 26,750,000 | 24,886,000 | 14,652,000 | 13,817,000 |
accrued payroll and related benefits | 6,964,000 | 5,314,000 | 7,884,000 | 29,197,000 | 28,394,000 | 25,391,000 | 21,503,000 | 16,674,000 | 19,112,000 | 16,286,000 | 20,859,000 | 17,930,000 | 17,909,000 | 15,507,000 | 14,665,000 | 12,500,000 | 10,159,000 | ||
accrued expenses and other current liabilities | 91,924,000 | 68,855,000 | |||||||||||||||||
accrued legal settlements | 174,752,000 | ||||||||||||||||||
current portion of deferred revenue | 256,000 | 252,000 | 652,000 | 281,000 | 1,018,000 | 673,000 | 1,108,000 | 2,284,000 | 2,641,000 | 1,120,000 | 4,485,000 | 4,170,000 | 4,107,000 | 3,777,000 | 3,643,000 | 3,613,000 | 3,350,000 | 3,157,000 | 2,703,000 |
current portion of operating lease liabilities | 13,051,000 | 14,050,000 | 13,880,000 | 13,373,000 | 13,508,000 | 12,451,000 | 11,539,000 | 11,644,000 | 3,936,000 | 3,734,000 | 3,626,000 | 3,687,000 | 3,460,000 | 3,374,000 | 3,322,000 | 3,018,000 | 2,401,000 | 2,534,000 | |
current portion of contingent consideration | 397,000 | 397,000 | 397,000 | 397,000 | 397,000 | 28,068,000 | 7,934,000 | ||||||||||||
acquisition consideration | 515,000 | 391,000 | 7,800,000 | 7,670,000 | 7,537,000 | 7,537,000 | |||||||||||||
income tax payable | 12,926,000 | 12,148,000 | |||||||||||||||||
current portion of debt | 120,362,000 | 49,635,000 | 16,286,000 | 52,907,000 | 23,714,000 | 56,942,000 | 31,980,000 | 27,486,000 | 29,845,000 | 21,718,000 | 23,208,000 | 18,529,000 | 19,151,000 | 16,585,000 | 36,261,000 | 25,877,000 | 32,257,000 | 8,678,000 | 10,150,000 |
total current liabilities | 264,949,000 | 165,632,000 | 327,922,000 | 201,980,000 | 145,321,000 | 204,229,000 | 139,453,000 | 175,184,000 | 180,452,000 | 96,044,000 | 96,480,000 | 92,125,000 | 91,341,000 | 90,148,000 | 115,206,000 | 112,713,000 | 111,989,000 | 74,082,000 | 61,621,000 |
long-term debt | 21,741,000 | 21,400,000 | 19,130,000 | 17,800,000 | 83,069,000 | 96,085,000 | 110,627,000 | 83,495,000 | 82,574,000 | 79,956,000 | 92,258,000 | 149,459,000 | 147,027,000 | 182,958,000 | 199,088,000 | 234,370,000 | 223,589,000 | 229,662,000 | 223,136,000 |
deferred tax liabilities | 238,000 | 238,000 | 591,000 | 1,744,000 | 2,358,000 | 3,512,000 | 2,426,000 | 5,083,000 | 6,002,000 | 6,699,000 | 6,918,000 | 7,055,000 | 7,055,000 | 8,893,000 | 9,043,000 | 8,634,000 | 8,923,000 | 9,230,000 | 9,416,000 |
deferred revenue | 896,000 | 983,000 | 7,098,000 | 117,224,000 | 117,445,000 | 117,667,000 | 118,942,000 | 119,206,000 | 119,209,000 | 116,926,000 | 113,185,000 | 113,477,000 | 113,781,000 | 114,085,000 | 114,389,000 | 114,783,000 | 115,192,000 | 115,501,000 | 116,274,000 |
derivative liabilities | 1,600,000 | 1,580,000 | 300,000 | 500,000 | 28,200,000 | 35,700,000 | 35,300,000 | 33,500,000 | 33,200,000 | 35,400,000 | 42,900,000 | 41,900,000 | 36,600,000 | 35,000,000 | 29,500,000 | 19,900,000 | |||
operating lease liabilities | 52,446,000 | 84,462,000 | 85,208,000 | 84,133,000 | 84,316,000 | 83,406,000 | 83,431,000 | 79,930,000 | 48,387,000 | 49,354,000 | 50,301,000 | 51,236,000 | 51,200,000 | 52,094,000 | 52,111,000 | 53,378,000 | 52,043,000 | 47,628,000 | |
contingent consideration | 550,000 | 550,000 | 48,949,000 | 57,249,000 | 57,949,000 | 94,578,000 | 124,349,000 | ||||||||||||
other long-term liabilities | 3,305,000 | 3,428,000 | 5,311,000 | 5,278,000 | 5,411,000 | 1,761,000 | 1,761,000 | 1,761,000 | 1,761,000 | 549,000 | 549,000 | 549,000 | 549,000 | 549,000 | 39,000 | ||||
total liabilities not subject to compromise | 345,725,000 | 278,273,000 | |||||||||||||||||
liabilities subject to compromise | 308,923,000 | 309,210,000 | |||||||||||||||||
total liabilities | 654,648,000 | 587,483,000 | 494,509,000 | 485,408,000 | 496,369,000 | 629,438,000 | 616,689,000 | 621,463,000 | 593,389,000 | 382,728,000 | 395,091,000 | 456,801,000 | 452,853,000 | 485,327,000 | 524,876,000 | 554,206,000 | 532,427,000 | 491,361,000 | 416,587,000 |
commitments and contingencies | |||||||||||||||||||
equity | |||||||||||||||||||
sorrento therapeutics, inc. equity | |||||||||||||||||||
common stock | 55,000 | 55,000 | 47,000 | 18,000 | 38,000 | 31,000 | 30,000 | 29,000 | 28,000 | 25,000 | 23,000 | 13,000 | 13,000 | ||||||
additional paid-in capital | 2,036,331,000 | 2,021,148,000 | 1,988,753,000 | 1,916,794,000 | 1,826,810,000 | 1,703,610,000 | 1,513,758,000 | 1,421,966,000 | 1,356,853,000 | 1,236,195,000 | 1,172,346,000 | 1,141,208,000 | 989,702,000 | 875,712,000 | 788,122,000 | 665,515,000 | 657,115,000 | 626,658,000 | |
accumulated other comprehensive income | 2,240,000 | 1,826,000 | 1,501,000 | 226,000 | 837,000 | -223,000 | 1,026,000 | 445,000 | 520,000 | -270,000 | 48,000 | 100,000 | 15,000 | ||||||
accumulated deficit | -2,194,275,000 | -2,099,063,000 | -1,959,447,000 | -1,735,755,000 | -1,646,178,000 | -1,427,419,000 | -1,386,604,000 | -1,242,187,000 | -1,122,384,000 | -955,769,000 | -958,279,000 | -886,776,000 | -802,753,000 | -725,013,000 | -659,818,000 | -532,583,000 | -475,821,000 | -367,750,000 | |
treasury stock | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | -49,464,000 | ||
total sorrento therapeutics, inc. stockholders’ deficit | -205,113,000 | ||||||||||||||||||
noncontrolling interests | 7,157,000 | -1,922,000 | -3,064,000 | -1,642,000 | 3,740,000 | -344,000 | -619,000 | -174,000 | -633,000 | -549,000 | -24,420,000 | -60,156,000 | -57,070,000 | -49,817,000 | -28,913,000 | -13,830,000 | -1,972,000 | ||
total deficit | -197,956,000 | ||||||||||||||||||
total liabilities and stockholders’ equity | 456,692,000 | 460,063,000 | 615,614,000 | 632,132,000 | 855,636,000 | 752,790,000 | 778,924,000 | 613,615,000 | 602,085,000 | 533,068,000 | 536,553,000 | 587,043,000 | |||||||
total sorrento therapeutics, inc. stockholders’ equity | -125,498,000 | 131,848,000 | 132,023,000 | 226,542,000 | 131,501,000 | 186,168,000 | 231,436,000 | 205,440,000 | 137,285,000 | 101,043,000 | 83,529,000 | ||||||||
total equity | -127,420,000 | -21,669,000 | 130,206,000 | 135,763,000 | 226,198,000 | 78,129,000 | 131,327,000 | 185,535,000 | 230,887,000 | 140,731,000 | 145,284,000 | 80,215,000 | 51,226,000 | 54,616,000 | 118,113,000 | 207,500,000 | |||
liabilities and stockholders' equity | |||||||||||||||||||
accrued expenses and liabilities | 58,756,000 | ||||||||||||||||||
common stock, 0.0001 par value... | 52,000 | 32,000 | 28,000 | 18,000 | 13,000 | ||||||||||||||
total sorrento therapeutics, inc. stockholders' equity | -18,605,000 | 78,748,000 | 165,151,000 | 131,943,000 | 209,472,000 | ||||||||||||||
total liabilities and equity | 472,840,000 | 694,818,000 | 535,822,000 | 624,087,000 | |||||||||||||||
accrued expenses | 59,764,000 | 45,816,000 | 48,149,000 | 37,975,000 | 23,575,000 | 25,267,000 | 27,728,000 | 19,198,000 | 24,562,000 | 19,711,000 | 14,241,000 | 18,728,000 | 18,478,000 | 17,383,000 | 23,590,000 | 13,403,000 | |||
equity: | |||||||||||||||||||
current portion of contingent consideration and acquisition consideration payable | 65,682,000 | 65,682,000 | |||||||||||||||||
contingent consideration and acquisition consideration payable | 121,504,000 | 121,504,000 | |||||||||||||||||
preferred stock, 0.0001 par value... | |||||||||||||||||||
accumulated other comprehensive loss | 1,155,000 | 1,133,000 | -225,000 | -215,000 | |||||||||||||||
marketable investment | 34,410,000 | 194,431,000 | |||||||||||||||||
acquisition consideration payable | 398,000 | 398,000 | 398,000 | 398,000 | 398,000 | 908,000 | 11,312,000 | 11,312,000 | 11,312,000 | 11,312,000 | |||||||||
restricted cash | 13,098,000 | 9,592,000 | 9,592,000 | 9,592,000 | 9,592,000 | ||||||||||||||
current portion of derivative liabilities | 7,280,000 | 8,800,000 | 9,000,000 | 7,900,000 | |||||||||||||||
prepaid expenses and other | 13,900,000 | 14,365,000 | 14,674,000 | 14,094,000 | 7,122,000 | 5,493,000 | 5,455,000 | 6,578,000 | |||||||||||
other | 2,125,000 | 3,866,000 | 4,774,000 | 4,775,000 | 5,175,000 | 5,232,000 | 5,347,000 | 5,570,000 | |||||||||||
accumulated other comprehensive gain | 444,000 | ||||||||||||||||||
cost method investments | 237,008,000 | 237,008,000 | 237,008,000 | 237,008,000 | 237,008,000 | 237,008,000 | 237,008,000 | ||||||||||||
equity method investments | 19,978,000 | 24,676,000 | 25,233,000 | 25,240,000 | 25,509,000 | 27,083,000 | 27,980,000 | ||||||||||||
income tax receivable | 59,000 | 216,000 | 303,000 | 193,000 | 526,000 | ||||||||||||||
accrued payroll and related benefit | 15,914,000 | ||||||||||||||||||
marketable securities | 94,000 | 316,000 | 391,000 | 297,000 | |||||||||||||||
deferred rent and other | 828,000 | 791,000 | 757,000 | 6,140,000 | |||||||||||||||
grants and accounts receivables | 9,786,000 | 7,409,000 | 3,833,000 | ||||||||||||||||
derivative liability | 14,501,000 | ||||||||||||||||||
total liabilities and stockholders' equity | 609,474,000 | ||||||||||||||||||
assets | |||||||||||||||||||
accrued payroll and related | 10,236,000 | ||||||||||||||||||
current portion of deferred rent |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
net loss | -108,437,000 | -154,626,000 | -227,114,000 | -144,862,000 | -119,995,000 | -73,127,000 | -87,110,000 | -84,993,000 | -69,180,000 | -75,212,000 | -71,845,000 | -146,529,000 | ||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||
depreciation and amortization | 3,593,000 | 3,623,000 | 3,353,000 | 3,358,000 | 3,236,000 | 3,298,000 | 2,859,000 | 3,547,000 | 3,138,000 | 2,918,000 | 2,217,000 | 3,137,000 | 2,595,000 | 3,058,000 | 2,741,000 | 2,314,000 | 2,896,000 | 3,038,000 |
non-cash operating lease cost | 2,121,000 | 1,304,000 | 1,233,000 | 821,000 | 1,189,000 | 987,000 | 798,000 | 1,565,000 | 733,000 | 759,000 | 900,000 | 1,113,000 | 847,000 | 842,000 | 984,000 | 852,000 | ||
non-cash interest expense and amortization of debt issuance costs | 403,000 | 776,000 | 1,410,000 | 490,000 | 1,986,000 | 2,906,000 | 3,263,000 | 1,889,000 | 1,912,000 | 2,098,000 | 2,457,000 | 2,485,000 | 3,569,000 | 4,386,000 | ||||
payment on notes attributed to accreted interest related to the debt discounts | 0 | -15,269,000 | -6,788,000 | |||||||||||||||
acquired in-process research and development | 1,000 | 0 | 0 | 12,271,000 | 600,000 | 11,084,000 | 5,012,000 | 7,512,000 | 3,227,000 | 34,884,000 | ||||||||
loss on write-off of leasehold improvements | ||||||||||||||||||
stock-based compensation | 15,194,000 | 18,282,000 | 17,230,000 | 18,501,000 | 18,324,000 | 20,792,000 | 22,679,000 | 21,103,000 | 22,746,000 | 23,660,000 | 18,107,000 | 6,295,000 | 3,335,000 | 3,682,000 | 3,670,000 | 4,015,000 | 2,987,000 | 1,976,000 |
loss on debt extinguishment | 0 | 40,000 | 692,000 | -33,433,000 | 470,000 | 5,262,000 | 0 | 0 | 584,000 | 6,111,000 | 0 | 0 | ||||||
loss on derivative liabilities | 20,000 | 1,280,000 | 1,000,000 | -1,980,000 | -4,920,000 | 10,700,000 | ||||||||||||
loss on marketable and equity investments | ||||||||||||||||||
loss on equity method investments | 0 | 368,000 | 18,429,000 | -62,000 | -72,000 | 131,000 | -151,000 | -164,000 | 22,000 | 419,000 | 23,000 | 566,000 | 4,699,000 | 556,000 | 7,000 | 1,431,000 | 1,574,000 | 897,000 |
write-off obsolete inventory | ||||||||||||||||||
change in fair value of convertible notes | ||||||||||||||||||
dip facility upfront lender fees and debt issuance costs | 1,312,000 | 2,725,000 | ||||||||||||||||
dip facility exit fee | 0 | 5,250,000 | ||||||||||||||||
increase on contingent consideration | 0 | 3,800,000 | ||||||||||||||||
loss on impairment of intangible assets | 33,410,000 | 0 | ||||||||||||||||
deferred income taxes | 0 | -353,000 | -1,154,000 | -11,000 | -1,757,000 | 1,086,000 | ||||||||||||
changes in operating assets and liabilities, excluding effect of acquisitions: | ||||||||||||||||||
accounts receivable | -6,209,000 | -2,047,000 | -278,000 | -3,013,000 | 3,593,000 | -5,982,000 | -2,260,000 | 732,000 | -626,000 | -803,000 | -738,000 | -968,000 | -3,777,000 | 4,432,000 | ||||
inventory | -498,000 | -1,333,000 | -5,014,000 | 6,879,000 | -5,396,000 | -5,979,000 | ||||||||||||
accrued payroll | 1,639,000 | -2,541,000 | -21,275,000 | 844,000 | 3,040,000 | 3,949,000 | 4,830,000 | -2,438,000 | 2,070,000 | -4,573,000 | 2,929,000 | 21,000 | 2,402,000 | -407,000 | 1,249,000 | 2,165,000 | 2,340,000 | -76,000 |
prepaid expenses, deposits and other assets | 3,025,000 | 131,000 | 2,149,000 | 374,000 | 5,920,000 | -1,640,000 | -4,036,000 | -3,002,000 | 980,000 | 2,976,000 | 1,427,000 | 185,000 | ||||||
accounts payable | 6,909,000 | 18,233,000 | 4,160,000 | 4,283,000 | 3,998,000 | -2,571,000 | -329,000 | -6,485,000 | 3,012,000 | -76,000 | 4,879,000 | -7,315,000 | -1,969,000 | 728,000 | 1,439,000 | 3,127,000 | 9,094,000 | -3,439,000 |
accrued expenses and other liabilities | 19,617,000 | 16,357,000 | -800,000 | 16,804,000 | -5,146,000 | 9,122,000 | -14,842,000 | 29,850,000 | -5,327,000 | 11,066,000 | -2,732,000 | 1,471,000 | 4,561,000 | -4,488,000 | 924,000 | 686,000 | -6,208,000 | 8,659,000 |
deferred revenue | -202,000 | 563,000 | -109,756,000 | -957,000 | 122,000 | -1,709,000 | -1,441,000 | -359,000 | 400,000 | 376,000 | 23,000 | -241,000 | 25,000 | -169,000 | -364,000 | -146,000 | -116,000 | -319,000 |
accrued legal settlements | 0 | 1,797,000 | ||||||||||||||||
income tax payable | ||||||||||||||||||
other | -3,457,000 | -518,000 | -421,000 | 179,000 | -3,913,000 | -253,000 | 141,000 | 476,000 | -55,000 | -906,000 | 398,000 | -750,000 | -531,000 | 1,000 | -261,000 | 163,000 | ||
net cash from operating activities | -55,659,000 | -49,459,000 | -68,338,000 | -61,171,000 | -80,988,000 | -83,360,000 | -72,137,000 | -83,112,000 | -78,515,000 | -48,057,000 | -40,869,000 | -42,592,000 | -37,525,000 | -38,550,000 | -36,022,000 | -45,831,000 | -46,834,000 | -44,309,000 |
capital expenditures | -140,000 | -86,000 | -4,524,000 | -3,835,000 | -2,705,000 | -2,593,000 | -2,209,000 | -1,175,000 | -3,493,000 | -1,994,000 | -2,688,000 | -2,870,000 | -949,000 | -21,000 | -1,860,000 | -2,094,000 | -2,260,000 | -5,228,000 |
free cash flows | -55,799,000 | -49,545,000 | -72,862,000 | -65,006,000 | -83,693,000 | -85,953,000 | -74,346,000 | -84,287,000 | -82,008,000 | -50,051,000 | -43,557,000 | -45,462,000 | -38,474,000 | -38,571,000 | -37,882,000 | -47,925,000 | -49,094,000 | -49,537,000 |
investing activities | ||||||||||||||||||
purchases of property and equipment | -140,000 | -86,000 | -4,524,000 | -3,835,000 | -2,705,000 | -2,593,000 | -2,209,000 | -1,175,000 | -3,493,000 | -1,994,000 | -2,688,000 | -2,870,000 | -949,000 | -21,000 | -1,860,000 | -2,094,000 | -2,260,000 | -5,228,000 |
virex health acquisition consideration paid in cash, net of cash acquired | 0 | 0 | 0 | -6,544,000 | ||||||||||||||
proceeds received from exit of fortunebio investment | 0 | 1,770,000 | ||||||||||||||||
other acquisitions and investments considerations paid in cash | -4,527,000 | |||||||||||||||||
net cash from investing activities | -5,034,000 | -8,092,000 | -1,728,000 | -13,664,000 | -2,205,000 | 5,396,000 | 78,662,000 | -2,006,000 | -11,414,000 | -25,227,000 | -3,261,000 | -21,000 | -10,389,000 | -3,256,000 | -2,260,000 | -22,268,000 | ||
financing activities | ||||||||||||||||||
proceeds from equity offerings, net of issuance costs | -2,185,000 | 22,971,000 | 62,298,000 | 71,455,000 | 104,149,000 | 164,432,000 | 66,947,000 | 41,917,000 | 50,752,000 | 42,209,000 | 104,856,000 | 63,766,000 | 79,347,000 | 69,896,000 | ||||
proceeds from dip facility, net of lender fees and debt issuance costs | 43,688,000 | 27,275,000 | ||||||||||||||||
proceeds from other short-term debt, net of issuance costs | 1,952,000 | 4,907,000 | ||||||||||||||||
proceeds from issuance of scilex shares | ||||||||||||||||||
proceeds from issuance of scilex convertible debentures | 14,400,000 | 9,600,000 | ||||||||||||||||
proceeds from scilex ecapital-revolver | ||||||||||||||||||
proceeds from exercises of stock options and warrants | 373,000 | 20,000 | 673,000 | 132,000 | ||||||||||||||
repayments of debt and other obligations | -1,728,000 | -3,557,000 | -35,528,000 | -41,444,000 | -63,023,000 | -48,316,000 | -15,735,000 | -27,758,000 | -29,218,000 | -966,000 | -72,320,000 | -59,533,000 | ||||||
transaction costs related to business combination | ||||||||||||||||||
payments of dividends | ||||||||||||||||||
net cash from financing activities | 88,813,000 | 61,196,000 | 25,080,000 | 71,498,000 | 41,771,000 | 173,369,000 | 70,857,000 | 40,060,000 | 35,058,000 | 35,357,000 | -11,576,000 | 117,853,000 | 43,240,000 | 24,722,000 | 37,910,000 | 22,569,000 | 19,503,000 | -1,097,000 |
net change in cash, cash equivalents and restricted cash | 33,014,000 | 13,421,000 | -48,292,000 | 2,235,000 | -40,945,000 | 76,345,000 | -3,485,000 | -37,656,000 | 35,205,000 | -14,706,000 | -63,859,000 | 50,034,000 | 2,454,000 | -13,849,000 | -8,501,000 | -26,518,000 | -29,591,000 | -67,674,000 |
net effect of exchange rate changes on cash | -920,000 | 600,000 | 1,240,000 | -1,894,000 | -616,000 | -1,104,000 | 415,000 | 100,000 | 408,000 | -80,000 | 147,000 | 754,000 | -13,000 | 27,000 | -121,000 | -218,000 | 5,000 | 57,000 |
cash, cash equivalents and restricted cash at beginning of period | 0 | 23,634,000 | 0 | 0 | 0 | 36,665,000 | 0 | 0 | 0 | 56,464,000 | 0 | 0 | 0 | 80,769,000 | 0 | 0 | 0 | 213,330,000 |
cash, cash equivalents and restricted cash at end of period | 32,094,000 | 37,655,000 | -47,052,000 | 341,000 | -41,561,000 | 111,906,000 | -3,070,000 | -37,556,000 | 35,613,000 | 41,678,000 | -63,712,000 | 50,788,000 | 2,441,000 | 66,947,000 | -8,622,000 | -26,736,000 | ||
supplemental disclosures: | ||||||||||||||||||
cash paid during the period for: | ||||||||||||||||||
interest | 508,000 | 431,000 | 118,000 | 116,000 | 974,000 | -2,000 | 5,000 | 83,000 | 271,000 | 0 | 1,579,000 | 1,569,000 | ||||||
income taxes | 0 | 60,000 | -84,000 | 53,000 | 0 | |||||||||||||
professional fees paid for reorganization in operating activities | ||||||||||||||||||
supplemental disclosures of non-cash investing and financing activities: | ||||||||||||||||||
stock dividends | 0 | -14,282,000 | ||||||||||||||||
dip facility exit fee incurred but not paid | 0 | 5,250,000 | ||||||||||||||||
virex health acquisition consideration paid in equity | -1,000 | 0 | 0 | 4,435,000 | ||||||||||||||
deferred consideration for intangible asset acquisition | 0 | 0 | ||||||||||||||||
bridge loan settlement through atm proceeds | 0 | 6,166,000 | ||||||||||||||||
property and equipment costs incurred but not paid | 1,087,000 | 5,301,000 | 6,037,000 | -197,000 | 493,000 | 457,000 | 91,000 | 354,000 | -223,000 | 1,031,000 | -924,000 | 1,307,000 | -411,000 | 628,000 | -559,000 | |||
impairment of in-process research and development | 11,900,000 | |||||||||||||||||
loss on marketable investments | 13,683,000 | 16,084,000 | ||||||||||||||||
current income taxes | 11,847,000 | |||||||||||||||||
net cash from for investing activities | 1,684,000 | |||||||||||||||||
operating activities: | ||||||||||||||||||
scilex notes principal increase | ||||||||||||||||||
payments on notes attributed to accreted interest related to the debt discounts | ||||||||||||||||||
loss on derivative liability | 14,501,000 | |||||||||||||||||
loss on contingent consideration | -8,300,000 | 0 | ||||||||||||||||
non-cash inventory adjustments | ||||||||||||||||||
investing activities: | ||||||||||||||||||
proceeds from sale of marketable investments | 654,000 | |||||||||||||||||
acea acquisition consideration paid in cash, net of cash acquired | 0 | 0 | ||||||||||||||||
other acquisitions and investments considerations paid in cash, net of cash acquired | -510,000 | -4,257,000 | ||||||||||||||||
financing activities: | ||||||||||||||||||
proceeds from short-term debt, net of issuance costs | -2,489,000 | 41,467,000 | -28,000 | 57,121,000 | 12,597,000 | 10,687,000 | 11,769,000 | 0 | ||||||||||
proceeds from the scilex business combination | ||||||||||||||||||
transaction costs paid related to the scilex business combination | ||||||||||||||||||
payments related to semnur share exchange | ||||||||||||||||||
changes to noncontrolling interests related to the scilex business combination | ||||||||||||||||||
scilex shares issued to yorkville pursuant to yorkville purchase agreement | ||||||||||||||||||
scilex business combination transaction costs incurred but not paid | ||||||||||||||||||
smartpharm acquisition consideration paid in equity | 0 | |||||||||||||||||
acea acquisition consideration paid in equity | 0 | 0 | ||||||||||||||||
right-of-use assets obtained in exchange for new and amended operating lease liabilities | ||||||||||||||||||
other acquisitions, license agreements and investments consideration paid in equity | ||||||||||||||||||
changes to noncontrolling interests from increased ownership in scilex holding | 0 | 0 | 0 | 23,963,000 | ||||||||||||||
short-term debt | 0 | |||||||||||||||||
(gain) on derivative liabilities | ||||||||||||||||||
right-of-use assets, operating leases | ||||||||||||||||||
proceeds from sale of marketable investment | ||||||||||||||||||
other acquisitions, license agreements and investments paid in equity | 812,000 | 5,377,000 | 7,500,000 | 0 | ||||||||||||||
net income | -219,477,000 | -40,540,000 | 2,418,000 | |||||||||||||||
gain on derivative liabilities | 2,700,000 | -7,500,000 | 1,800,000 | 300,000 | -2,200,000 | |||||||||||||
gain on contingent consideration | -64,300,000 | -2,100,000 | ||||||||||||||||
non-cash additions related to leasehold improvements | 684,000 | 2,279,000 | ||||||||||||||||
gain on marketable investments | -68,534,000 | |||||||||||||||||
payment on scilex notes attributed to accreted interest related to the debt discount | -1,381,000 | -1,008,000 | -6,235,000 | -4,548,000 | ||||||||||||||
loss loss on derivative liability | ||||||||||||||||||
loss on contingent liabilities and acquisition consideration payable | -11,193,000 | 37,000 | 34,000 | 32,000 | ||||||||||||||
prepaid expenses and other current assets | ||||||||||||||||||
purchase of assets related to semnur, net of cash acquired | 0 | 0 | ||||||||||||||||
other acquisitions and investments consideration paid in cash | ||||||||||||||||||
proceeds from oaktree term loans, net of issuance costs | ||||||||||||||||||
proceeds from short-term debt and working capital funding arrangements, net of issuance costs | ||||||||||||||||||
payments of debt and other obligations | ||||||||||||||||||
semnur acquisition consideration paid in equity | 0 | |||||||||||||||||
semnur acquisition costs incurred but not paid | 0 | |||||||||||||||||
conversion of convertible notes | ||||||||||||||||||
other loan forgiveness | ||||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash within the company's consolidated balance sheets: | ||||||||||||||||||
cash and cash equivalents | -3,070,000 | -37,556,000 | 35,613,000 | 41,678,000 | -18,712,000 | 50,788,000 | 2,491,000 | 21,897,000 | -12,128,000 | |||||||||
restricted cash | 0 | -50,000 | 45,050,000 | 3,506,000 | ||||||||||||||
cash, cash equivalents, and restricted cash | -3,070,000 | -37,556,000 | 35,613,000 | 41,678,000 | -63,712,000 | 50,788,000 | 2,441,000 | 66,947,000 | -8,622,000 | |||||||||
deferred tax provision | -918,000 | -697,000 | -219,000 | 0 | -1,839,000 | -150,000 | 409,000 | -289,000 | -307,000 | -186,000 | ||||||||
payments related to license agreements | -8,726,000 | |||||||||||||||||
other acquisitions and investments | -22,371,000 | -12,262,000 | -12,000 | 0 | -32,000 | |||||||||||||
proceeds from exercise of stock options and warrants | 1,281,000 | 1,377,000 | 10,597,000 | 55,053,000 | 29,123,000 | 13,634,000 | ||||||||||||
taxes | ||||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash within the company’s consolidated balance sheets: | ||||||||||||||||||
gain on marketable investment | 63,901,000 | -94,431,000 | ||||||||||||||||
loss on ipr&d impairment | ||||||||||||||||||
deferred income tax benefit | ||||||||||||||||||
acquisition consideration payable | ||||||||||||||||||
proceeds from issuance of scilex notes, net of issuance costs | ||||||||||||||||||
proceeds from issuance of convertible notes | ||||||||||||||||||
scilex non-cash consideration for regulatory milestone | ||||||||||||||||||
other acquisitions and investments paid in equity | ||||||||||||||||||
loss on partial debt settlement | 23,645,000 | |||||||||||||||||
proceeds from short-term debt | 725,000 | |||||||||||||||||
loss on trading securities | 0 | |||||||||||||||||
loss on debt settlement / extinguishment | ||||||||||||||||||
non-cash income on cost method investments | ||||||||||||||||||
grants and other receivables | -2,377,000 | -3,575,000 | ||||||||||||||||
proceeds from issuance of common stock | 43,000 | |||||||||||||||||
payments on bridge loans and scilex notes | ||||||||||||||||||
proceeds from 2017 securities purchase agreement, net of issuance costs | ||||||||||||||||||
short-term working capital funding arrangements, net of issuance costs | ||||||||||||||||||
payment of hercules loan agreement | ||||||||||||||||||
scilex consideration for regulatory milestones | ||||||||||||||||||
net payments of deferred compensation | ||||||||||||||||||
virttu acquisition non-cash consideration | ||||||||||||||||||
bdl stock issuance | ||||||||||||||||||
non-cash interest expense | 4,696,000 | 5,586,000 | 5,682,000 | |||||||||||||||
acquisition-related ipr&d | ||||||||||||||||||
amortization of debt issuance costs | 517,000 | 555,000 | 518,000 | |||||||||||||||
prepaid expenses and other | 829,000 | -1,539,000 | -2,989,000 | |||||||||||||||
acquisition consideration payable for scilex | ||||||||||||||||||
purchase of assets related to sofusa | ||||||||||||||||||
contributions to joint venture | ||||||||||||||||||
proceeds from public offering, net of issuance costs | ||||||||||||||||||
proceeds from early conditional loan, net of issuance costs | 0 | |||||||||||||||||
proceeds from bridge loan for scilex regulatory milestone | ||||||||||||||||||
repayment of bridge loan for scilex regulatory milestone | ||||||||||||||||||
proceeds from loan agreement | ||||||||||||||||||
short-term bridge loan, net of issuance costs | ||||||||||||||||||
short-term loan repayment | 0 | 0 | -740,000 | |||||||||||||||
scilex consideration for regulatory milestone | ||||||||||||||||||
payment on scilex notes | -783,000 | -480,000 | -438,000 | |||||||||||||||
proceeds from exercise of stock options | -917,000 | 1,125,000 | 81,000 | |||||||||||||||
interest paid | ||||||||||||||||||
bdl non-cash consideration | ||||||||||||||||||
semnur-related ipr&d | 0 | 75,301,000 | ||||||||||||||||
gain on trading securities | 76,000 | -94,000 | ||||||||||||||||
amortization of operating lease right-of-use assets | 1,292,000 | |||||||||||||||||
loss on disposals | 433,000 | |||||||||||||||||
deposits and other assets | 406,000 | |||||||||||||||||
purchase of assets related to semnur | -17,040,000 | |||||||||||||||||
operating activities | ||||||||||||||||||
adjustments to reconcile net loss to net cash from and (used for) operating activities: | ||||||||||||||||||
loss on sale of marketable securities | ||||||||||||||||||
loss on disposal for property and equipment | ||||||||||||||||||
loss on receivable | ||||||||||||||||||
(gain) on derivative liability | ||||||||||||||||||
loss on contingent liabilities | ||||||||||||||||||
changes in operating assets and liabilities; net of dispositions: | ||||||||||||||||||
deferred rent and other | ||||||||||||||||||
investment in siniwest | ||||||||||||||||||
investment in celularity | ||||||||||||||||||
purchase of business, net of cash acquired | ||||||||||||||||||
purchase of medovex investment | ||||||||||||||||||
net borrowings under loan and security agreement | ||||||||||||||||||
payments on short term bridge loan | ||||||||||||||||||
bridge loan for scilex settlement | ||||||||||||||||||
bridge loan for scilex settlement repayment | ||||||||||||||||||
proceeds from issuance of scilex notes | ||||||||||||||||||
scilex notes issuance of scilex notes | ||||||||||||||||||
cash payments for treasury shares | ||||||||||||||||||
proceeds from loan and security agreement, net of fees | ||||||||||||||||||
payments of debt on retired note | ||||||||||||||||||
proceeds from oaktree term loan | ||||||||||||||||||
oaktree issuance cost | ||||||||||||||||||
scilex acquisition non-cash consideration | ||||||||||||||||||
siniwest non-cash consideration | ||||||||||||||||||
roger williams medical center non-cash consideration | ||||||||||||||||||
investment in immuneoncia | ||||||||||||||||||
conversion of 2017 convertible notes |