| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended October 31, |
|
|
 |
|
|
2001 |
|
2000 |
|
1999 |
|
|
|
|
|
|
|
| In thousands |
| Operating activities: |
| Net loss |
|
$ |
(49,419 |
) |
|
$ |
(36,078 |
) |
|
$ |
(35,530 |
) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
| |
Depreciation and amortization |
|
|
3,643 |
|
|
|
4,107 |
|
|
|
3,931 |
|
| |
Disposition of obsolete fixed assets |
|
|
— |
|
|
|
331 |
|
|
|
— |
|
| |
Equity compensation |
|
|
6,844 |
|
|
|
3,681 |
|
|
|
75 |
|
| |
Deferred compensation
|
|
|
7 |
|
|
|
(3 |
) |
|
|
(122 |
) |
| |
Accrued interest on stockholders’ notes receivable |
|
|
(90 |
) |
|
|
(126 |
) |
|
|
(172 |
) |
| |
Stock issued for interest in Reperfusion
|
|
|
1,511 |
|
|
|
— |
|
|
|
— |
|
| |
Equity in affiliate’s operations
|
|
|
34 |
|
|
|
35 |
|
|
|
30 |
|
| |
Changes in assets and liabilities:
|
| |
|
Accounts receivable
|
|
|
(246 |
) |
|
|
(157 |
) |
|
|
25 |
|
| |
|
Inventories
|
|
|
(1,939 |
) |
|
|
456 |
|
|
|
(110 |
) |
| |
|
Other current assets
|
|
|
(391 |
) |
|
|
108 |
|
|
|
302 |
|
| |
|
Accounts payable
|
|
|
(416 |
) |
|
|
1,023 |
|
|
|
(782 |
) |
| |
|
Accrued expenses
|
|
|
(771 |
) |
|
|
(436 |
) |
|
|
1,394 |
|
|
|
|
|
|
|
| |
|
|
Net cash used in operating activities
|
|
|
(41,233 |
) |
|
|
(27,059 |
) |
|
|
(30,959 |
) |
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of property and equipment
|
|
|
(3,265 |
) |
|
|
(2,052 |
) |
|
|
(1,772 |
) |
|
Escrow for new facility
|
|
|
(10,000 |
) |
|
|
— |
|
|
|
— |
|
|
Other assets
|
|
|
(98 |
) |
|
|
165 |
|
|
|
1,531 |
|
|
|
|
|
|
|
| |
|
|
Net cash used in investing activities
|
|
|
(13,363 |
) |
|
|
(1,887 |
) |
|
|
(241 |
) |
|
Financing activities:
|
|
Net proceeds from sale of common stock
|
|
|
— |
|
|
|
83,751 |
|
|
|
37,702 |
|
|
Expenses related to equity line
|
|
|
(675 |
) |
|
|
— |
|
|
|
— |
|
|
Net proceeds from sale of preferred stock
|
|
|
— |
|
|
|
— |
|
|
|
30,125 |
|
|
Payment of long-term debt
|
|
|
— |
|
|
|
— |
|
|
|
(6,000 |
) |
|
Repurchase of common stock
|
|
|
— |
|
|
|
— |
|
|
|
(6,000 |
) |
|
Proceeds from exercise of stock options, warrants
and restricted stock
|
|
|
2,064 |
|
|
|
2,689 |
|
|
|
88 |
|
|
Payment of notes receivable from shareholders
|
|
|
468 |
|
|
|
556 |
|
|
|
— |
|
|
|
|
|
|
|
| |
|
|
Net cash provided by financing activities
|
|
|
1,857 |
|
|
|
86,996 |
|
|
|
55,915 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in cash and cash
equivalents
|
|
|
(52,739 |
) |
|
|
58,050 |
|
|
|
24,715 |
|
|
Cash and cash equivalents at beginning of the year
|
|
|
88,828 |
|
|
|
30,778 |
|
|
|
6,063 |
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of the year
|
|
$ |
36,089 |
|
|
$ |
88,828 |
|
|
$ |
30,778 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest paid
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-cash investing transactions:
|
|
Land and license rights acquired upon exercise of
stock option
|
|
$ |
1,005 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New facility construction financed through
capital lease (classified
as long-term debt)
|
|
$ |
5,205 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
