SEC Filings

S-1/A
AVEXIS, INC. filed this Form S-1/A on 02/01/2016
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          For the nine months ended September 30, 2015, our net cash used in operating activities of $6.3 million primarily consisted of a net loss of $25.3 million, primarily attributable to our spending on research and development and general and administrative expenses, which was partially offset by $18.0 million in adjustments for non-cash items and $1.0 million in cash provided by changes in working capital items. Adjustments for non-cash items primarily consisted of $15.3 million of stock-based third-party research and development expense, of which $14.5 million was associated with the restricted stock grant to Dr. Kaspar, $0.5 million was associated with the issuance of shares of our common stock to NCH under the terms of the NCH License and $0.3 million was associated with stock warrants granted to a consultant, as well as $2.7 million of employee stock-based compensation expense. The change in working capital was primarily attributable to an increase in accounts payable and accrued expenses.

          We anticipate the continued use of net cash for the foreseeable future as we continue to fund the clinical development of AVXS-101 and as we continue to build out our management team and corporate infrastructure.

Investing Activities

          For each of the years ended December 31, 2013 and 2014, net cash used in investing activities was less than $0.1 million and consisted of purchases of property and equipment.

          For each of the nine months ended September 30, 2014 and 2015, net cash used in investing activities was less than $0.1 million and consisted of purchases of property and equipment.

Financing Activities

          For the year ended December 31, 2013, net cash provided by financing activities consisted of $0.1 million in net proceeds from the issuance of a note payable.

          For the year ended December 31, 2014, net cash provided by financing activities of $7.2 million consisted of $1.0 million in proceeds from the issuance of convertible debt, $2.0 million from the issuance of Class B-1 preferred stock and $4.5 million from the issuance of Class C preferred stock, which proceeds were partially offset by the repayment of $0.3 million in outstanding notes payable.

          For the nine months ended September 30, 2014, net cash provided by financing activities of $7.2 million consisted of $1.0 million in proceeds from the issuance of convertible debt, $2.0 million from the issuance of Class B-1 preferred stock and $4.5 million from the issuance of Class C preferred stock offset by $0.4 million in debt repayment.

          For the nine months ended September 30, 2015, net cash provided by financing activities of $73.0 million consisted of $5.0 million from the issuance of Class C preferred stock upon the achievement of certain milestones contained within the Class C Preferred Stock Purchase Agreement, $2.5 million in proceeds from the issuance of Class B-1 preferred stock upon the achievement of certain milestones contained within the Class B Preferred Stock Purchase Agreement, $0.7 million received upon the exercise of stock options and warrants, and $64.8 million in proceeds from the issuance of Class D preferred stock.

Future Funding Requirements

          To date, we have not generated any revenues from the commercial sale of approved gene therapy products or drug therapies and we do not expect to generate substantial revenue for at least the next few years. If we fail to complete the development of our product candidates in a timely manner or fail to obtain their regulatory approval, our ability to generate future revenue will be compromised. We do not know when, or if, we will generate any revenue from our gene therapy

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