SEC Filings

10-Q
ARRAY BIOPHARMA INC filed this Form 10-Q on 05/10/2017
Entire Document
 

ARRAY BIOPHARMA INC.
Condensed Statements of Cash Flows
(In thousands)
(Unaudited)
 
Nine Months Ended March 31,
 
2017
 
2016
Cash flows from operating activities
 
 
 
Net loss
$
(87,226
)
 
$
(67,826
)
Adjustments to reconcile net loss to net cash used in operating activities:
 
 
 
Depreciation and amortization expense
1,499

 
1,278

Non-cash interest expense
5,311

 
4,719

Share-based compensation expense
6,898

 
5,417

Realized gain from investment
(529
)
 

Impairment loss related to cost method investment
1,500

 

Financing fees on notes payable
240

 

Change in fair value of notes payable
2,100

 

Changes in operating assets and liabilities:
 
 
 
Accounts receivable
6,795

 
(44,614
)
Prepaid expenses and other assets
3,040

 
(341
)
Accounts payable and other accrued expenses
(1,084
)
 
10,640

Accrued outsourcing costs
11,468

 
5,820

Accrued compensation and benefits
(1,196
)
 
(794
)
Deferred rent
1,721

 
(360
)
Deferred revenue
(7,278
)
 
23,364

Other long-term liabilities
80

 
69

Net cash used in operating activities
(56,661
)
 
(62,628
)
 
 
 
 
Cash flows from investing activities
 
 
 
Purchases of property and equipment
(3,307
)
 
(2,726
)
Proceeds from investment
529

 

Purchases of marketable securities
(351,438
)
 
(101,968
)
Proceeds from sales and maturities of marketable securities
281,751

 
169,145

Net cash (used in) provided by investing activities
(72,465
)
 
64,451

 
 
 
 
Cash flows from financing activities
 
 
 
Net proceeds from the issuance of common stock / Public offering
124,192

 

Net proceeds from the issuance of common stock / At-the-market offering
19,577

 
2,884

Net proceeds from notes payable at fair value
9,760

 

Proceeds from employee stock purchases and options exercised
2,298

 
2,060

Payments of Comerica term loan principal
(14,550
)
 

Proceeds from the issuance of the SVB term loan
15,000

 

Net cash provided by financing activities
156,277

 
4,944

 
 
 
 
Net increase in cash and cash equivalents
27,151

 
6,767

Cash and cash equivalents at beginning of period
56,598

 
55,691

Cash and cash equivalents at end of period
$
83,749

 
$
62,458

 
 
 
 
Supplemental disclosure of cash flow information
 
 
 
Cash paid for interest
$
2,324

 
$
2,352

Change in unrealized loss on marketable securities
$
(93
)
 
$
9


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

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