SEC Filings

10-K
AVEXIS, INC. filed this Form 10-K on 02/28/2018
Entire Document
 

AveXis, Inc.

Consolidated Statements of Cash Flows

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended

 

Year ended

 

Year ended

 

 

 

December 31, 

 

December 31, 

 

December 31, 

 

 

    

2017

    

2016

    

2015

Cash flows from operating activities

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

$

(218,051)

 

$

(83,012)

 

$

(38,474)

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

 

 

 

 

 

 

 

 

 

 

Loss on common stock settlement

 

 

 

11,647

 

 

 —

 

 

 —

Depreciation and amortization

 

 

 

2,270

 

 

64

 

 

14

Employee stock-based compensation

 

 

 

31,544

 

 

26,786

 

 

5,250

Stock-based third-party research and development

 

 

 

 —

 

 

 —

 

 

20,154

Loss on disposals

 

 

 

629

 

 

24

 

 

 —

Changes in operating assets and liabilities

 

 

 

 

 

 

 

 

 

 

Prepaid and other current assets

 

 

 

(3,667)

 

 

(3,854)

 

 

(887)

Other long-term assets

 

 

 

(1,771)

 

 

(1,132)

 

 

(1,312)

Accounts payable

 

 

 

6,374

 

 

958

 

 

276

Accrued expenses and other current liabilities

 

 

 

15,308

 

 

11,773

 

 

1,183

Accrued indemnification obligation

 

 

 

(1,664)

 

 

372

 

 

 —

Net cash used in operating activities

 

 

 

(157,381)

 

 

(48,021)

 

 

(13,796)

Cash flows from investing activities

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

 

(32,047)

 

 

(19,182)

 

 

(221)

Net cash used in investing activities

 

 

 

(32,047)

 

 

(19,182)

 

 

(221)

Cash flows from financing activities

 

 

 

 

 

 

 

 

 

 

Proceeds from issuance of Class B common stock

 

 

 

 —

 

 

 —

 

 

2,500

Proceeds from issuance of Class C common stock

 

 

 

 —

 

 

 —

 

 

5,000

Proceeds from issuance of Class D common stock

 

 

 

 —

 

 

 —

 

 

64,788

Proceeds from exercise of stock options

 

 

 

3,689

 

 

430

 

 

520

Shares surrendered for taxes

 

 

 

(443)

 

 

 —

 

 

 —

Proceeds from exercise of stock warrants

 

 

 

 —

 

 

53

 

 

341

Payment of deferred IPO costs

 

 

 

 —

 

 

(1,592)

 

 

 —

Proceeds from IPO and follow-on offerings, net of issuance costs

 

 

 

269,869

 

 

246,490

 

 

 —

Net cash provided by financing activities

 

 

 

273,115

 

 

245,381

 

 

73,149

Net increase in cash and cash equivalents

 

 

 

83,687

 

 

178,178

 

 

59,132

Cash and cash equivalents, Beginning of Period

 

 

 

240,430

 

 

62,252

 

 

3,120

Cash and cash equivalents, End of Period

 

 

$

324,117

 

$

240,430

 

$

62,252

Supplemental Cash Flow Information

 

 

 

 

 

 

 

 

 

 

Cash paid for interest

 

 

$

 —

 

$

 —

 

$

15

Supplemental Disclosure of Non-cash Investing and Financing Activities

 

 

 

 

 

 

 

 

 

 

Capital expenditures in accounts payable and accrued liabilities

 

 

$

7,697

 

$

4,872

 

$

 —

Deferred issuance costs for underwritten offering in accounts payable and accrued liabilities

 

 

$

83

 

$

 —

 

$

371

 

 

 

 

 

 

 

 

 

 

 

 

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

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