AKAO 2017 Annual Report

108 Achaogen, Inc. Consolidated Statements of Cash Flows (in thousands) Year Ended December 31, 2017 2016 2015 Cash flows from operating activities: Net loss........................................................................................................... $ (125,618) $ (71,227) $ (27,093) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization ................................................................. 1,334 441 426 Amortization of (discount) premium on short-term investments............. (227) 304 500 Stock-based compensation expense ......................................................... 14,172 3,847 2,983 Loss on fixed asset disposition................................................................. 54 — — Change in warrant and derivative liabilities............................................. (1,928) 19,859 19 Non-cash interest expense relating to notes payable................................ 847 741 302 Change in operating assets and liabilities: Contracts receivable ........................................................................... 10,794 (7,112) 195 Prepaids and other assets.................................................................... (4,107) (199) (1,504) Accounts payable and accrued liabilities ........................................... 5,736 6,668 3,076 Deferred revenue................................................................................ 2,100 — — Other liabilities................................................................................... 1,588 (225) 8 Net cash used in operating activities ........................................ (95,255) (46,903) (21,088) Cash flows from investing activities: Purchase of property and equipment .............................................................. (7,106) (901) (606) Purchase of short-term investments ............................................................... (121,796) (30,961) (41,851) Maturities of short-term investments ............................................................. 129,370 42,230 47,689 Net cash provided by investing activities ................................. 468 10,368 5,232 Cash flows from financing activities: Proceeds from underwritten public offering, net of issuance costs................ 121,192 94,852 — Proceeds from issuance of contingently redeemable common stock ............. 10,000 — — Proceeds from private placement, net of issuance costs ................................ — 25,166 — Proceeds from sales of common stock, net of issuance costs ........................ — 3,827 1,319 Proceeds from the issuance of common stock in connection with equity incentive plans................................................................................................ 2,968 466 1,353 Proceeds from exercise of stock warrants ...................................................... 418 1,151 — Proceeds from loan payable, net of issuance costs......................................... — 10,000 14,590 Repayment of loan payable ............................................................................ (4,167) — — Net cash provided by financing activities ................................ 130,411 135,462 17,262 Net increase in cash, cash equivalents, and restricted cash.......... 35,624 98,927 1,406 Cash, cash equivalents, and restricted cash at beginning of year................... 119,341 20,414 19,008 Cash, cash equivalents, and restricted cash at end of year ....................... $ 154,965 $ 119,341 $ 20,414 Supplemental disclosures of cash flow information Interest paid .................................................................................................... $ 2,008 $ 1,579 $ 396 Supplemental disclosures of noncash investing and financing information Reclassification of warrant liability to additional paid-in capital .................. $ 2,088 $ 8,337 $ — Accrued and deferred public offering issuance cost ...................................... $ — $ 305 $ — Issuance of derivative in connection with issuance of loan payable.............. $ — $ — $ 356 Purchases of property and equipment included in accounts payable and accrued liabilities............................................................................................ $ 1,130 Purchases of property and equipment included in deferred rent .................... $ 4,701 $ 1,896 See accompanying notes to consolidated financial statements.