Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities    
Net (loss) income $ (34,493,895) $ 14,961,458
Adjustments to reconcile net (loss) income (used in) provided by operating activities:    
Depreciation and amortization 3,333,416 17,050
Impairment of intangible assets 1,861,562 0
Stock-based compensation expense 1,796,387 852,210
Acquired in-process research and development, including transaction costs 18,723,952 0
Deferred taxes (47,994) 0
Amortization of inventory fair value associated with acquisition of TRx and Avadel Pediatric Products 262,419 0
Non-cash interest expense 327,224 20,365
Change in fair value of warrant liability and unit purchase option liability 22,328 1,586
Change in fair value of contingent consideration 360,850 0
Changes in assets and liabilities:    
Accounts receivable, net (73,513) 0
Grants receivable 0 102,337
Other receivables (3,072,729) 0
Inventory, net (226,735) 0
Prepaid expenses and other assets 27,571 50,228
Escrowed cash receivable 3,752,390 (3,750,803)
Accounts payable 172,243 (697,695)
Income taxes payable (64,100) 3,230,000
Accrued expenses and other liabilities 6,186,178 341,109
Net cash (used in) provided by operating activities (1,152,446) 15,127,845
Investing activities    
Acquisition of Avadel Pediatric Products (1) 0
Cash acquired from the acquisition of Ichorion Therapeutics, Inc. 1,429,876 0
Purchase of property and equipment (65,057) (7,990)
Net cash provided by (used in) investing activities 1,364,818 (7,990)
Financing activities    
Proceeds from option and warrant exercises 508,746 0
Proceeds from sale of shares pursuant to private placement, net 3,857,106 4,650,000
Proceeds from sales of common stock under employee stock purchase plan 8,400 35,430
Proceeds from sale of shares under common stock purchase agreement 0 1,693,498
Payment of contingent consideration (137,008) 0
Principal payments on term debt 0 (2,374,031)
Payment of offering costs 0 (279,246)
Net cash provided by financing activities 4,237,244 3,725,651
Increase in cash, cash equivalents and restricted cash 4,449,616 18,845,506
Cash, cash equivalents, and restricted cash at beginning of period 2,605,499 5,201,897
Cash, cash equivalents, and restricted cash at end of period 7,055,115 24,047,403
Supplemental disclosures of cash flow information    
Cash paid for interest 262,500 72,526
Cash and cash equivalents 6,838,353 23,955,397
Restricted cash, current 37,027 29,159
Restricted cash, non-current $ 179,735 $ 62,847