Financials

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash $ 33,278 $ 33,010
Restricted cash 50 50
Accounts receivable 556
Prepaid expenses and other current assets 363 399
Total current assets 33,691 34,015
Property and equipment, net 571 591
Deposits 46 46
Operating lease right-of-use assets, net (including $25 and $39 to related party) 451 498
Goodwill 19,092 19,092
Total assets 53,851 54,242
Current liabilities:    
Accounts payable and accrued expenses 1,194 1,080
Current maturities of finance lease liabilities 36 39
Current maturities of operating lease liabilities (including $25 and $39 to related party) 167 178
Derivative liabilities 60 61
Total current liabilities 1,457 1,358
Long-term liabilities:    
Finance lease liabilities 28 34
Operating lease liabilities 308 345
Total long-term liabilities 336 379
Total liabilities 1,793 1,737
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value; 100,000 shares authorized as of March 31, 2021 and December 31, 2020; 71,469,000 and 70,439 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively 72 71
Additional paid-in capital 299,632 297,342
Accumulated deficit (247,646) (244,908)
Total stockholders' equity 52,058 52,505
Total liabilities and stockholders' equity $ 53,851 $ 54,242

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v3.21.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues:    
Collaboration revenue $ 461
Operating expenses:    
Research and development 1,577 1,283
General and administrative 1,161 1,139
Total operating expenses 2,738 2,422
Income (loss) from operations (2,738) (1,961)
Other (expense) income:    
Interest expense, net (1) (2)
Change in fair value of derivative liabilities 1 (27)
Total other income (expense), net (29)
Net income (loss) $ (2,738) $ (1,990)
Net income (loss) per common share, basic and diluted $ (0.04) $ (0.05)
Weighted average number of common shares outstanding, basic 71,248,000 41,662,000
Weighted average number of common shares outstanding, diluted 71,263,000 41,662,000

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v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income (loss) $ (2,738) $ (1,990)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 45 30
Amortization of right of use assets 47 44
Stock-based compensation 219 107
Payments on operating lease liabilities (48) (44)
Change in fair value of derivative liabilities (1) 27
Changes in operating assets and liabilities:    
Accounts receivable 556
Prepaid expenses and other current assets 36 (33)
Deposits 11
Accounts payable and accrued expenses 114 (340)
Net cash (used in) provided by operating activities (1,770) (2,188)
Investing activities:    
Purchases of property and equipment (25) (93)
Net cash used in investing activities (25) (93)
Financing activities:    
Payments on finance lease liabilities (9) (57)
Proceeds from sale of common stock, net of transaction costs 2,072 16,606
Net cash provided by financing activities 2,063 16,549
Net increase in cash and restricted cash 268 14,268
Cash and restricted cash at beginning of period 33,060 7,468
Cash and restricted cash at end of period 33,328 21,736
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Recognition of finance lease right-of-use assets and finance lease liabilities upon adoption of ASC Topic 842, Leases $ 77

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