NEKTAR THERAPEUTICS | ||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||
(In thousands) | ||||||||||
(Unaudited) | ||||||||||
Three Months Ended March 31, | ||||||||||
2019 | 2018 | |||||||||
Cash flows from operating activities: | ||||||||||
Net loss | $ (118,512) | $ (95,792) | ||||||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||
Non-cash royalty revenue related to sale of future royalties | (8,230) | (6,920) | ||||||||
Non-cash interest expense on liability related to sale of future royalties | 6,065 | 5,019 | ||||||||
Stock-based compensation | 25,385 | 19,949 | ||||||||
Depreciation and amortization | 3,077 | 2,541 | ||||||||
Accretion of discounts, net and other non-cash transactions | (4,303) | (370) | ||||||||
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable | 319 | 151 | ||||||||
Inventory | (397) | 51 | ||||||||
Other assets | 4,209 | 1,853 | ||||||||
Accounts payable | 5,156 | 6,492 | ||||||||
Accrued compensation | 8,434 | 6,867 | ||||||||
Other accrued expenses | 774 | 10,826 | ||||||||
Deferred revenue | (4,204) | (3,678) | ||||||||
Other liabilities | 1,332 | 545 | ||||||||
Net cash used in operating activities | (80,895) | (52,466) | ||||||||
Cash flows from investing activities: | ||||||||||
Purchases of investments | (368,739) | - | ||||||||
Maturities of investments | 362,249 | 37,232 | ||||||||
Sales of investments | - | 11,963 | ||||||||
Purchases of property, plant and equipment | (5,648) | (985) | ||||||||
Net cash provided by (used in) investing activities | (12,138) | 48,210 | ||||||||
Cash flows from financing activities: | ||||||||||
Proceeds from shares issued under equity compensation plans | 4,894 | 34,352 | ||||||||
Net cash provided by financing activities | 4,894 | 34,352 | ||||||||
Effect of exchange rates on cash and cash equivalents | (14) | (53) | ||||||||
Net increase (decrease) in cash and cash equivalents | (88,153) | 30,043 | ||||||||
Cash and cash equivalents at beginning of period | 194,905 | 4,762 | ||||||||
Cash and cash equivalents at end of period | $ 106,752 | $ 34,805 | ||||||||
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid for interest | $ 4,805 | $ 4,952 | ||||||||
