Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating activities:    
Net loss $ (49,048) $ (613)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 50 101
Stock-based compensation 562 614
Interest expense, net 58
Loss on impairment of in process research and development 53,905
Gain on settlement of mortgage note receivable (106)
Loss on disposal of property and equipment, net 60 100
Change in fair value of derivative liabilities (306) (907)
Deferred income tax benefit (13,582) (6,880)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (86) 433
Deposits (9)
Accounts payable and accrued expenses 240 281
Deferred rent (28) (32)
Net cash used in operating activities (8,290) (6,903)
Investing activities:    
Purchases of property and equipment (28) (40)
Proceeds from settlement mortgage note receivable 1,400
Net cash provided by (used in) investing activities 1,372 (40)
Financing activities:    
Payments of capital lease obligations (19)
Proceeds from exercise of stock options 228 80
Proceeds from sale of common stock, net of transaction costs 7,684 3,000
Proceeds from issuance of convertible notes 1,000 1,000
Net cash provided by financing activities 8,893 4,080
Net increase (decrease) in cash and restricted cash 1,975 (2,863)
Cash and restricted cash at beginning of period 777 3,640
Cash and restricted cash at end of period 2,752 777
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Purchases of property and equipment under capital leases 347
Issuance of commons stock upon exchange of convertible notes payable, including accrued interest $ 2,062