v3.23.3
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash Flows from Operating Activities          
Net loss $ (14,312,029) $ (13,347,771) $ (41,168,866) $ (28,475,479)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Goodwill impairment loss     3,873,079    
Intangible asset impairment loss     2,277,921    
Intangible asset impairment loss   3,500,000   3,500,000  
Depreciation and amortization     4,668,589 988,715  
Amortization of intangible asset     1,091,250 666,875  
Noncash lease expense     318,073 127,681  
Stock-based compensation 600,000 700,000 2,070,837 2,430,389  
Change in fair value of common stock warrants   (1,456)   (10,746)  
Change in fair value of contingent consideration   (3,118,515)   (3,342,515)  
Change in fair value of contingent consideration (300,000)   (177,354)    
Unrealized (gain) loss on investments     (99,437) 1,577,174  
Deferred tax liability     (571,120) (3,073,000)  
Payment of contingent consideration     (100,344)    
Increase (decrease) in cash arising from changes in assets and liabilities, net of acquisitions:          
Accounts receivable     (7,022,657) (5,843,564)  
Other assets     (193,124) 12,493,539  
Prepaid expenses and other current assets     2,330,808 1,210,730  
Grant receivable     1,524,522 (206,163)  
Contract receivables       24,526,231  
Inventory       5,844,000  
Income tax receivable     600,877 443,968  
Right-of-use assets     57,103 (9,974,366)  
Deferred tax liability       (215,937)  
Deposits     25,596 (33,064)  
Accounts payable     (749,600) 2,354,279  
Deferred revenue     2,470,838 718,850  
Accrued expenses and other liabilities     (1,681,915) (3,512,090)  
Other long-term liabilities       (53,530)  
Net Cash (Used In) Provided by Operating Activities     (30,454,924) 2,141,977  
Cash Flows from Investing Activities          
Purchase of short-term investments     (439,779) (1,989,767)  
Sale of short-term investments     32,208,771 44,947,779  
Purchases of property and equipment     (1,852,665) (19,271,087)  
Disposal of property and equipment     220,802    
Acquisition of Elusys Therapeutics, net of cash paid       2,719,898  
Payment of contingent consideration       (22,784,571)  
Net Cash Provided By Investing Activities     30,137,129 3,622,252  
Cash Flows from Financing Activities          
Repayments of principal under finance lease     (2,751,037) (145,672)  
Net Cash Used In Financing Activities     (2,751,037) (145,672)  
Effect of exchange rate changes on cash and cash equivalents     (3,188) (14,194)  
Net (Decrease) Increase in Cash and Cash Equivalents     (3,072,020) 5,604,363  
Cash and Cash Equivalents - Beginning of the Period     8,434,554 8,053,879 $ 8,053,879
Cash and Cash Equivalents - End of the Period 5,362,534 13,658,242 5,362,534 13,658,242 $ 8,434,554
Supplemental Disclosure for Cash Flow Information:          
Right-of-use assets obtained upon operating lease commencements       351,098  
Right-of-use assets obtained upon financing lease commencements     9,983,504 16,470,969  
Right-of-use assets surrendered upon financing lease modifications     (3,092,408)    
Right-of-use assets obtained upon operating lease modifications     87,839    
Supplemental disclosure of non-cash investing and financing activities:          
Purchases of property and equipment included in accounts payable       1,233,232  
Contingent and deferred cash consideration related to Elusys acquisition       42,853,685  
Reconciliation of cash and cash equivalents at September 30, 2023 and 2022          
Cash and cash equivalents included in current assets held for sale $ 3,319,793 $ 5,242,840 $ 3,319,793 $ 5,242,840  

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