Financials

v3.19.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash $ 7,474 $ 2,723
Restricted cash 50 29
Accounts receivable 914
Prepaid expenses and other current assets 95 191
Total current assets 8,533 2,943
Property and equipment, net 368 384
Deposits 50 40
Operating lease right-of-use assets, net 761
Goodwill 65,195 65,195
Total assets 74,907 68,562
Current liabilities:    
Accounts payable and accrued expenses 1,361 1,077
Deferred rent 3
Current maturities of finance lease liabilities 204 214
Current maturities of operating lease liabilities 166
Derivative liabilities 123 263
Total current liabilities 1,854 1,557
Long-term liabilities:    
Finance lease liabilities 21 117
Operating lease liabilities 614
Total long-term liabilities 635 117
Total liabilities 2,489 1,674
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par value; 100,000 shares authorized as of June 30, 2019 and December 31, 2018; 31,621 and 29,938 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively 32 30
Additional paid-in capital 258,021 253,949
Accumulated deficit (185,635) (187,091)
Total stockholders' equity 72,418 66,888
Total liabilities and stockholders' equity $ 74,907 $ 68,562

Source

v3.19.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Revenue $ 592 $ 5,670
Operating expenses:        
Research and development 1,091 1,119 1,969 1,997
General and administrative 1,051 1,013 2,374 2,205
Total operating expenses 2,142 2,132 4,343 4,202
Income (loss) from operations (1,550) (2,132) 1,327 (4,202)
Other (expense) income:        
Interest expense, net (5) (24) (11) (55)
Gain on settlement of mortgage note receivable 106
Change in fair value of derivative liabilities 40 259 140 281
Total other income, net 35 235 129 332
Income (loss) before income taxes (1,515) (1,897) 1,456 (3,870)
Income tax benefit 554 973
Net income (loss) $ (1,515) $ (1,343) $ 1,456 $ (2,897)
Net income (loss) per common share, basic and diluted $ (0.05) $ (0.05) $ 0.05 $ (0.11)
Weighted average number of common shares outstanding, basic 31,621,000 27,716,000 30,986,000 26,050,000
Weighted average number of common shares outstanding, diluted 31,621,000 27,716,000 31,006,000 26,050,000
Collaboration Revenue [Member]        
Revenues:        
Revenue $ 592 $ 5,670

Source

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net income (loss) $ 1,456 $ (2,897)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 45 29
Operating lease expense 72
Stock-based compensation 146 212
Interest expense, net 11 55
Payments on operating lease liabilities (53)
Gain on settlement of mortgage note receivable (106)
Change in fair value of derivative liabilities (140) (281)
Deferred income tax benefit (973)
Changes in operating assets and liabilities:    
Accounts receivable (914)
Prepaid expenses and other current assets 96 (124)
Deposits (10)
Accounts payable and accrued expenses 284 (72)
Deferred rent (3) (14)
Net cash provided by (used in) operating activities 990 (4,171)
Investing activities:    
Purchases of property and equipment (29) (5)
Proceeds from settlement of mortgage note receivable 1,400
Net cash (used in) provided by investing activities (29) 1,395
Financing activities:    
Payments on finance lease liabilities (117)
Proceeds from exercise of stock options 185
Proceeds from sale of common stock, net of transaction costs 3,928 7,684
Proceeds from issuance of convertible notes 1,000
Net cash provided by financing activities 3,811 8,869
Net increase in cash and restricted cash 4,772 6,093
Cash and restricted cash at beginning of period 2,752 777
Cash and restricted cash at end of period 7,524 6,870
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
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

Source