Financials

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 19,315 $ 7,418
Restricted cash 50 50
Accounts receivable 592 644
Prepaid expenses and other current assets 145 169
Total current assets 20,102 8,281
Property and equipment, net 660 431
Deposits 35 50
Operating lease right-of-use assets, net (including $64 to related party) 589 677
Goodwill 19,092 19,092
Total assets 40,478 28,531
Current liabilities:    
Accounts payable and accrued expenses 2,640 1,999
Current maturities of finance lease liabilities 39 103
Current maturities of operating lease liabilities (including $59 to related party) 187 177
Derivative liabilities 77 7
Total current liabilities 2,943 2,286
Long-term liabilities:    
Finance lease liabilities 54 14
Operating lease liabilities (including $40 to related party) 426 523
Total long-term liabilities 480 537
Total liabilities 3,423 2,823
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value; 100,000 shares authorized as of June 30, 2020 and December 31, 2019; 52,141 and 35,150 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively 53 36
Additional paid-in capital 277,747 260,932
Accumulated deficit (240,745) (235,260)
Total stockholders' equity 37,055 25,708
Total liabilities and stockholders' equity $ 40,478 $ 28,531

Source

v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Total revenue $ 554 $ 592 $ 1,015 $ 5,670
Operating expenses:        
Research and development 1,976 1,091 3,259 1,969
General and administrative 2,028 1,051 3,167 2,374
Total operating expenses 4,004 2,142 6,426 4,343
Income (loss) from operations (3,450) (1,550) (5,411) 1,327
Other (expense) income:        
Interest expense, net (2) (5) (4) (11)
Change in fair value of derivative liabilities (43) 40 (70) 140
Total other income, net (45) 35 (74) 129
Net income (loss) $ (3,495) $ (1,515) $ (5,485) $ 1,456
Net income (loss) per common share, basic and diluted $ (0.07) $ (0.05) $ (0.12) $ 0.05
Weighted average number of common shares outstanding, basic 52,141,000 31,621,000 46,930,000 30,986,000
Weighted average number of common shares outstanding, diluted 52,141,000 31,621,000 46,930,000 31,006,000
Collaboration Revenue [Member]        
Revenues:        
Total revenue $ 554 $ 592 $ 1,015 $ 5,670

Source

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income (loss) $ (5,485) $ 1,456
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 68 45
Operating lease expense 88 72
Stock-based compensation 226 146
Interest expense, net 11
Payments on operating lease liabilities (87) (53)
Gain on settlement of mortgage note receivable
Change in fair value of derivative liabilities 70 (140)
Deferred income tax benefit
Changes in operating assets and liabilities:    
Accounts receivable 52 (914)
Prepaid expenses and other current assets 24 96
Deposits 15 (10)
Accounts payable and accrued expenses 641 284
Deferred rent (3)
Net cash provided by (used in) operating activities (4,388) 990
Investing activities:    
Purchases of property and equipment (220) (29)
Proceeds from settlement of mortgage note receivable
Net cash (used in) provided by investing activities (220) (29)
Financing activities:    
Payments on finance lease liabilities (101) (117)
Proceeds from sale of common stock, net of transaction costs 16,606 3,928
Net cash provided by financing activities 16,505 3,811
Net increase in cash and restricted cash 11,897 4,772
Cash and restricted cash at beginning of period 7,468 2,752
Cash and restricted cash at end of period 19,365 7,524
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Recognition of finance lease right-of-use asset and liability 77
Recognition of operating lease right-of-use assets and operating lease liabilities upon adoption of ASC Topic 842, Leases $ 833

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