Financials

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash $ 67,062,000 $ 33,010,000
Restricted cash 50,000 50,000
Accounts receivable 556,000
Prepaid expenses and other current assets 225,000 399,000
Total current assets 67,337,000 34,015,000
Property and equipment, net 539,000 591,000
Deposits 46,000 46,000
Operating lease right-of-use assets, net (including $10 to related party) 403,000 498,000
Goodwill 19,092,000 19,092,000
Total assets 87,417,000 54,242,000
Current liabilities:    
Accounts payable and accrued expenses 2,138,000 1,080,000
Current maturities of finance lease liabilities 33,000 39,000
Current maturities of operating lease liabilities (including $10 to related party) 157,000 178,000
Derivative liabilities 51,000 61,000
Total current liabilities 2,379,000 1,358,000
Long-term liabilities:    
Finance lease liabilities 21,000 34,000
Operating lease liabilities 269,000 345,000
Total long-term liabilities 290,000 379,000
Total liabilities 2,669,000 1,737,000
Stockholders’ equity:    
Common stock, $0.001 par value; 100,000 shares authorized as of June 30, 2021 and December 31, 2020, respectively; 97,469 and 70,439 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively 98,000 71,000
Additional paid-in capital 336,117,000 297,342,000
Accumulated deficit (251,467,000) (244,908,000)
Total stockholders’ equity 84,748,000 52,505,000
Total liabilities and stockholders’ equity $ 87,417,000 $ 54,242,000

Source

v3.21.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Collaboration revenue $ 554,000 $ 1,015,000
Revenues 554,000 1,015,000
Operating expenses:        
Research and development 2,747,000 1,976,000 4,324,000 3,259,000
General and administrative 1,081,000 2,028,000 2,242,000 3,167,000
Total operating expenses 3,828,000 4,004,000 6,566,000 6,426,000
Loss from operations (3,828,000) (3,450,000) (6,566,000) (5,411,000)
Other income (expense):        
Interest expense, net (2,000) (2,000) (3,000) (4,000)
Change in fair value of derivative liabilities 9,000 (43,000) 10,000 (70,000)
Total other income (expense), net 7,000 (45,000) 7,000 (74,000)
Net loss $ (3,821,000) $ (3,495,000) $ (6,559,000) $ (5,485,000)
Net loss per common share, basic and diluted $ (0.04) $ (0.07) $ (0.08) $ (0.12)
Weighted average number of common shares outstanding, basic and diluted 87,069 52,141 79,116 46,930

Source

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net loss $ (6,559) $ (5,485)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 92 68
Amortization of right of use assets 95 88
Stock-based compensation 297 226
Payments on operating lease liabilities (97) (87)
Change in fair value of derivative liabilities (10) 70
Changes in operating assets and liabilities:    
Accounts receivable 556 52
Prepaid expenses and other current assets 174 24
Deposits 15
Accounts payable and accrued expenses 1,058 641
Net cash used in operating activities (4,394) (4,388)
Investing activities:    
Purchases of property and equipment (40) (220)
Net cash used in investing activities (40) (220)
Financing activities:    
Payments on finance lease liabilities (19) (101)
Proceeds from sale of common stock, net of transaction costs 38,505 16,606
Net cash provided by financing activities 38,486 16,505
Net increase in cash and restricted cash 34,052 11,897
Cash and restricted cash at beginning of period 33,060 7,468
Cash and restricted cash at end of period $ 67,112 $ 19,365

Source