SEC Filings

10-K
ARRAY BIOPHARMA INC filed this Form 10-K on 08/11/2017
Entire Document
 

ARRAY BIOPHARMA INC.
Statements of Cash Flows
(In thousands)
 
Year Ended June 30,
 
2017
 
2016
 
2015
Cash flows from operating activities
 
 
 
 
 
Net income (loss)
$
(116,818
)
 
$
(92,840
)
 
$
9,369

Adjustments to reconcile net income (loss) to net cash used in operating activities:
 
 
 
 
 
Depreciation and amortization expense
2,068

 
1,529

 
3,702

Non-cash interest expense
7,223

 
6,375

 
5,799

Share-based compensation expense
9,965

 
7,283

 
7,809

Extinguishment of co-development liability, net

 

 
(21,610
)
Realized gain from investments, net
(529
)
 

 
(16,255
)
Gain on sale of CMC, net

 

 
(1,641
)
Impairment loss related to cost method investment
1,500

 

 

Financing fees on notes payable
240

 

 

Change in fair value of notes payable
2,600

 

 

Changes in operating assets and liabilities:
 
 
 
 
 
Accounts receivable
8,023

 
(32,995
)
 
(7,592
)
Prepaid expenses and other assets
6,179

 
(4,352
)
 
(1,260
)
Accounts payable and other accrued expenses
(1,004
)
 
3,931

 
(1,113
)
Accrued outsourcing costs
12,248

 
1,738

 
7,362

Accrued compensation and benefits
1,539

 
1,126

 
(702
)
Co-development liability

 

 
12,169

Deferred rent
1,564

 
175

 
(3,236
)
Deferred revenue
25,664

 
37,831

 
1,584

Other long-term liabilities
184

 
109

 
(178
)
Net cash used in operating activities
(39,354
)
 
(70,090
)
 
(5,793
)
 
 
 
 
 
 
Cash flows from investing activities
 
 
 
 
 
Purchases of property and equipment
(3,520
)
 
(3,159
)
 
(2,507
)
Proceeds from investment
529

 

 

Proceeds from sale of CMC

 

 
3,750

Purchases of marketable securities
(387,554
)
 
(139,150
)
 
(202,908
)
Proceeds from sales and maturities of marketable securities
332,429

 
208,336

 
143,616

Net cash provided by (used in) investing activities
(58,116
)
 
66,027

 
(58,049
)
 
 
 
 
 
 
Cash flows from financing activities
 
 
 
 
 
Proceeds from the issuance of common stock / Public offering
132,250

 

 

Offering costs for the issuance of common stock / Public offering
(8,058
)
 

 

Proceeds from the issuance of common stock / At-the-market offering
30,790

 
2,992

 
47,500

Offering costs for the issuance of common stock / At-the-market offering
(731
)
 
(100
)
 
(956
)
Proceeds from notes payable at fair value
10,000

 

 

Issuance costs for notes payable at fair value
(240
)
 

 

Proceeds from employee stock purchases and options exercised
2,344

 
2,032

 
4,398

Payment of Comerica term loan
(14,550
)
 

 

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

 

 

Warrants exercised for cash

 
46

 

Net cash provided by financing activities
166,805

 
4,970

 
50,942

 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
69,335

 
907

 
(12,900
)
Cash and cash equivalents at beginning of period
56,598

 
55,691

 
68,591

Cash and cash equivalents at end of period
$
125,933

 
$
56,598

 
$
55,691


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