Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net loss $ (39,115) $ (18,854)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,880 4,782
Non-cash interest on convertible senior notes 3,120 0
Amortization of deferred financing costs 343 0
Losses from investments in investees 6,261 996
Equity-based compensation – employees and non-employees 7,003 2,169
Provision for (recovery of) bad debts 329 (91)
Provision for inventory obsolescence 1,273 754
Revenue from receipt of equity (12,620) (102)
Realized gain on investments available for sale (10,821) 0
Change in fair value of derivatives instruments 10,898 (1,140)
Change in fair value of contingent consideration 3,921 2,109
Deferred income tax benefit (602) 0
Changes in assets and liabilities of continuing operations, net of the effects of acquisitions:    
Accounts receivable (1,652) (2,681)
Inventory 1,213 (3,321)
Prepaid expenses and other current assets (2,572) (1,318)
Other assets 97 11
Accounts payable 333 (796)
Foreign currency measurement 450 (109)
Accrued expenses 4,591 (87)
Cash used in operating activities of continuing operations (20,670) (17,678)
Cash used in operating activities of discontinued operations 0 (82)
Net cash used in operating activities (20,670) (17,760)
Cash flows from investing activities:    
Investments in investees (13,341) (2,700)
Proceeds from sale of investments available for sale 11,496 0
Acquisition of businesses, net of cash 78 (2,173)
Purchase of marketable securities (50,027) (17,117)
Capital expenditures (2,054) (408)
Net cash used in investing activities (53,848) (22,398)
Cash flows from financing activities:    
Issuance of 3.00% convertible senior notes, net, including related parties 170,184 0
Payment of Series D dividends, including related parties (3,015) 0
Proceeds from the exercise of Common Stock options and warrants 1,519 1,492
Borrowings on lines of credit 15,354 21,553
Repayments of lines of credit and capital lease obligations (17,718) (16,288)
Net cash provided by financing activities 166,324 6,757
Effect of exchange rate on cash and cash equivalents (106) 56
Net increase (decrease) in cash and cash equivalents 91,700 (33,345)
Cash and cash equivalents at beginning of period 27,361 [1] 71,516
Cash and cash equivalents at end of period 119,061 [1] 38,171
SUPPLEMENTAL INFORMATION    
Interest paid 318 341
Income taxes paid (refunded), net 242 (197)
RXi common stock received 21,052 432
Shares issued upon the conversion of:    
Series D Preferred Stock 24,386 0
Common Stock warrants, net exercised 815 0
Cytochroma
   
Issuance of Common Stock to acquire:    
Issuance of common stock to acquire 146,902 0
OPKO Brazil
   
Issuance of Common Stock to acquire:    
Issuance of common stock to acquire 436 0
Rxi Pharmaceuticals Corporation [Member]
   
SUPPLEMENTAL INFORMATION    
RXi common stock received 12,500  
Pharmaceutical [Member]
   
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,397 3,025
SUPPLEMENTAL INFORMATION    
RXi common stock received $ 13,800 $ 0
[1] As of June 30, 2013 and December 31, 2012, total assets include $6.0 million and $5.6 million, respectively, and total liabilities include $7.8 million and $5.5 million, respectively related to SciVac Ltd ("SciVac"), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and SciVac’s consolidated liabilities are those as to which there is no recourse against us. Refer to Note 5.