Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities:    
Net loss $ (100,338) $ (187,364)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 179 121
Amortization of deferred debt costs and debt discount 1,222 1,014
Accretion of back-end facility fee 548 21
Loss on disposal of property and equipment 0 (44)
Stock-based compensation expense 9,178 20,082
Interest expense — Payment-in-kind (PIK) 4,339 765
Change in fair value of derivative financial instruments—warrants (7,815) (216)
Debt conversion expense 0 1,209
Changes in operating assets and liabilities:    
Accounts receivable (2,731) (5,036)
Inventories (4,316) (7,405)
Deferred revenue, net 16,236 1,927
Security deposits 0 25
Accounts payable and accrued expenses (5,140) 2,145
Prepaid expenses and other current assets (790) (7,671)
Accrued interest expense on senior convertible notes 348 287
Total Adjustments 11,258 7,312
Net Cash used in Operating Activities (89,080) (180,052)
Cash Flows From Investing Activities:    
Additions to property and equipment (193) (48)
Net Cash used in Investing Activities (193) (48)
Cash Flows From Financing Activities:    
Proceeds of sale of common stock, net of issuance costs 0 121,604
Payment for deferred financing costs (2,500) (1,591)
Proceeds from borrowings, net of issuance costs 0 95,140
Proceeds from exercise of stock options 434 347
Net Cash (used in) provided by Financing Activities (2,066) 215,500
Net decrease in cash and cash equivalents (91,339) 35,400
Cash and cash equivalents at beginning of period 136,986 82,387
Cash and cash equivalents at end of period 45,647 117,787
Supplementary disclosure of cash flow information:    
Cash paid for interest on senior convertible notes 698 698
Cash paid for interest on long-term debt 3,238 0
Cash paid for taxes 1,133 20
Supplementary disclosure of non-cash investing and financing activities:    
Conversion of senior convertible notes to Synergy Common Stock 0 4,912
Tenant improvement allowance $ 0 $ 587