SEC Filings

S-1
AVEXIS, INC. filed this Form S-1 on 01/15/2016
Entire Document
 

Table of Contents


AveXis, Inc.

Consolidated Statements of Cash Flows

 
  Years Ended
December 31,
  Nine Months Ended
September 30,
 
 
 
2013
 
2014
 
2014
 
2015
 
 
   
   
  (unaudited)
 

Cash flows from operating activities

                         

Net loss

  $ (2,689,414 ) $ (15,705,776 ) $ (12,054,910 ) $ (25,313,037 )

Adjustments to reconcile net loss to net cash used in operating activities:

                         

Loss on sale of discontinued operations

        145,199     145,199      

Depreciation

    14,774     3,350     2,139     5,820  

Employee stock-based compensation

    1,227,744     1,204,261     1,156,817     2,719,702  

Stock-based third-party research and development

    345,447     6,207,993     3,199,550     15,296,515  

Fixed asset impairments

    134,125              

Loss on extinguishment of debt

        116,260     116,260      

Changes in operating assets and liabilities:

                         

Increase in prepaid expenses and other current assets

        (22,643 )   (29,402 )   (90,502 )

Increase in other long-term assets

        (4,433 )   (4,433 )   (73,124 )

Increase (decrease) in accounts payable

    278,438     (92,582 )   (74,429 )   501,844  

Increase (decrease) in accrued expenses

    80,293     58,103     (30,522 )   646,882  

Increase in accrued indemnification obligation

        4,080,500     4,080,500      

Net cash provided by discontinued operations

    91,407     8,731     5,191      

Net cash used in operating activities

    (517,186 )   (4,001,037 )   (3,488,040 )   (6,305,900 )

Cash flows from investing activities

                         

Capital expenditures

    (2,228 )   (29,284 )   (24,177 )   (76,920 )

Net cash used in investing activities

    (2,228 )   (29,284 )   (24,177 )   (76,920 )

Cash flows from financing activities

                         

Proceeds from issuance of notes payable

    100,000              

Proceeds from issuance of convertible notes

          1,000,000     1,000,000      

Proceeds from issuance of Class B-1 preferred stock

        2,000,000     2,000,000     2,500,000  

Proceeds from issuance of Class C preferred stock

        4,500,034     4,500,034     5,000,020  

Proceeds from issuance of Class D preferred stock, net of issuance costs

                64,787,549  

Repayment of notes payable

        (350,000 )   (350,000 )    

Proceeds from exercise of stock warrants

                341,000  

Proceeds from exercise of options

                341,000  

Net cash provided by financing activities

    100,000     7,150,034     7,150,034     72,969,569  

Net increase (decrease) in cash and cash equivalents

    (419,414 )   3,119,713     3,637,817     66,586,749  

Cash and cash equivalents, beginning of period

    419,414             3,119,713  

Cash and cash equivalents, end of period

  $   $ 3,119,713   $ 3,637,817   $ 69,706,462  

Supplemental Cash Flow Information

                         

Cash paid for interest

  $   $ 35,025   $ 3,218   $ 439  

Supplemental Disclosures of Non-cash Investing and Financing Activities

                         

Conversion of accrued legal fees into common stock

  $   $ 102,300   $ 102,300   $  

Conversion of convertible notes into Class B-1 and Class C preferred stock

  $   $ 1,000,000   $ 1,000,000   $  

Deferred issuance costs for planned initial public offering in accrued expenses

              $ 322,914  

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

F-7



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