Financials

v3.20.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 7,418 $ 2,723
Restricted cash 50 29
Accounts receivable 644
Prepaid expenses and other current assets 169 191
Total current assets 8,281 2,943
Property and equipment, net 431 384
Deposits 50 40
Operating lease right-of-use assets, net (including $40 to related party) 677
Goodwill 19,092 65,195
Total assets 28,531 68,562
Current liabilities:    
Accounts payable and accrued expenses 1,999 1,080
Current maturities of finance lease liabilities 103 214
Current maturities of operating lease liabilities (including $59 to related party) 177
Derivative liabilities 7 263
Total current liabilities 2,286 1,557
Long-term liabilities:    
Finance lease liabilities 14 117
Operating lease liabilities (including $40 to related party) 523
Total long-term liabilities 537 117
Total liabilities 2,823 1,674
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par value; 100,000 and 100,000 shares authorized as of December 31, 2019 and December 31, 2018; 35,150 and 29,938 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively 36 30
Additional paid-in capital 260,932 253,949
Accumulated deficit (235,260) (187,091)
Total stockholders' equity 25,708 66,888
Total liabilities and stockholders' equity $ 28,531 $ 68,562

Source

v3.20.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revenues:    
Collaboration revenue $ 6,564
Operating expenses:    
Research and development 4,004 4,667
General and administrative 4,863 4,352
Impairments 46,103 53,905
Total operating expenses 54,970 62,924
Loss from operations (48,406) (62,924)
Other (expense) income:    
Interest expense, net (19) (58)
Gain on settlement of mortgage note receivable 106
Loss on disposal of property and equipment (60)
Change in fair value of derivative liabilities 256 306
Total other income, net 237 294
Loss before income taxes (48,169) (62,630)
Income tax benefit 13,582
Net loss $ (48,169) $ (49,048)
Net loss per common share:    
Loss per share, basic and diluted $ (1.51) $ (1.75)
Weighted average number of common shares outstanding, basic and diluted 31,859 28,009

Source

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating activities:    
Net loss $ (48,169) $ (49,048)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 98 50
Amortization of right of use assets 156
Stock-based compensation 351 562
Interest expense, net 58
Loss on impairment goodwill 46,103
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 60
Payments on operating lease liabilities (133)
Change in fair value of derivative liabilities (256) (306)
Gain on mortgage note receivable (106)
Deferred income tax benefit (13,582)
Changes in operating assets and liabilities:    
Accounts receivable (644)
Prepaid expenses and other current assets 22 (86)
Deposits (10) (9)
Accounts payable and accrued expenses 919 240
Deferred rent (28)
Net cash used in operating activities (1,563) (8,290)
Investing activities:    
Purchases of property and equipment (145) (28)
Proceeds from settlement of mortgage note receivable 1,400
Net cash (used in) provided by investing activities (145) 1,372
Financing activities:    
Payments of finance lease obligations (214) (19)
Proceeds from sale of common stock, net of transaction costs 6,638 7,684
Proceeds from issuance of convertible notes 1,000
Proceeds from exercise of stock options 228
Net cash provided by financing activities 6,424 8,893
Net increase in cash and restricted cash 4,716 1,975
Cash and restricted cash at beginning of period 2,752 777
Cash and restricted cash at end of period 7,468 2,752
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Purchases of property and equipment under capital leases 347
Recognition of operating lease right-of-use assets and operating lease liabilities upon adoption of ASC Topic 842, Leases 833
Issuance of commons stock upon conversion of notes payable $ 2,062

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