Financials

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 748 $ 3,605
Restricted cash 29 35
Accounts receivable 1 21
Prepaid and other current assets 104 517
Mortgage note receivable 1,294 1,294
Total current assets 2,176 5,472
Property and equipment, net 119 280
Deposits 31 31
In process research and development 53,905 53,905
Goodwill 65,195 65,195
Total assets 121,426 124,883
Current liabilities:    
Accounts payable and accrued expenses 837 563
Derivative liabilities 569 1,476
Total current liabilities 1,406 2,039
Long-term liabilities    
Deferred rent 31 63
Convertible notes payable 1,007
Deferred tax liability 13,582 20,462
Total long-term liabilities 14,620 20,525
Total liabilities 16,026 22,564
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par value; 800,000 shares authorized; 24,275 and 23,801 shares issued and outstanding as of December 31, 2017 and December 31, 2016, respectively 24 24
Additional paid-in capital 243,419 239,725
Accumulated deficit (138,043) (137,430)
Total stockholders’ equity 105,400 102,319
Total liabilities and stockholders' equity $ 121,426 $ 124,883

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v3.8.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]      
Grant revenues $ 78
Operating expenses      
Research and development 5,822 101,679 47,261
General and administrative 2,440 4,140 6,765
Total operating expenses 8,262 105,819 54,026
Loss from operations (8,262) (105,819) (53,948)
Interest income (expense), net (7) 126 180
Other expense (131) (1)
Loss on return of escrowed shares (1,686)
Impairment on mortgage note receivable (1,177)
Change in fair value of derivative liabilities 907 2,603 (9,916)
Total other income (expense), net 769 1,551 (11,422)
Loss before income taxes (7,493) (104,268) (65,370)
Income tax benefit 6,880 29,394 15,248
Net loss $ (613) $ (74,874) $ (50,122)
Net loss per common share:      
Net loss per share, basic $ (0.03) $ (3.18) $ (2.40)
Net loss per share, diluted $ (0.03) $ (3.30) $ (2.40)
Weighted average common shares outstanding, basic 24,126,000 23,518,000 21,011,000
Weighted average common shares outstanding, diluted 24,126,000 23,533,000 21,011,000

Source

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net loss $ (613) $ (74,874) $ (50,122)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 101 201 192
Stock-based compensation 614 548 2,934
Change in fair value of derivative liabilities (907) (2,603) 9,916
Deferred income tax (6,880) (29,413) (15,267)
Loss on return of escrowed shares 1,686
Impairment loss on mortgage note receivable 1,177
Impairment on IPR&D 92,396 38,665
Loss on disposal of equipment 100
Changes in operating assets and liabilities:      
Accounts receivable 20 11
Prepaid expenses and other current assets 413 (76) (212)
Accounts payable and accrued expenses 281 (2,022) 1,891
Deferred rent (32) 2
Net cash used in operating activities (6,903) (14,655) (10,317)
Investing activities      
Purchase of property and equipment (40) (51) (339)
Interest earned on mortgage note receivable 33
Principal payments received on mortgage note receivable 21 77
Net cash provided by (used in) investing activities (40) 3 (262)
Financing activities      
Proceeds from exercise of stock options 80 3 23
Proceeds from issuance of convertible notes payable 1,000
Proceeds from issuance of common stock 3,000 9,013 15,862
Net cash provided by financing activities 4,080 9,016 15,885
Net (decrease) increase in cash, cash equivalents, and restricted cash (2,863) (5,636) 5,306
Cash, cash equivalents, and restricted cash at beginning of period 3,640 9,276 3,970
Cash, cash equivalents, and restricted cash at end of period 777 3,640 9,276
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Cashless exercise of warrants $ 35 $ 14,265

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