Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 4,684 $ 748
Restricted cash 29 29
Prepaid expenses and other current assets 278 105
Mortgage note receivable 1,294
Total current assets 4,991 2,176
Property and equipment, net 31 119
Deposits 49 31
In process research and development 53,905 53,905
Goodwill 65,195 65,195
Total assets 124,171 121,426
Current liabilities:    
Accounts payable and accrued expenses 978 837
Derivative liabilities 159 569
Total current liabilities 1,137 1,406
Long-term liabilities    
Deferred rent 10 31
Convertible notes payable 1,007
Deferred tax liability 12,123 13,582
Total long-term liabilities 12,133 14,620
Total liabilities 13,270 16,026
Commitments and contingencies (Note 10)
Common stock, $0.001 par value; 100,000 shares authorized; 29,923 and 24,275 issued and outstanding as of September 30, 2018 and December 31, 2017, respectively (Note 4) 30 24
Additional paid-in capital 253,676 243,419
Accumulated deficit (142,805) (138,043)
Total stockholders' equity 110,901 105,400
Total liabilities and stockholders' equity $ 124,171 $ 121,426

Source

v3.10.0.1
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Jun. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Operating expenses        
Research and development $ 1,467 $ 1,393 $ 3,464 $ 4,718
General and administrative 952 717 3,157 1,712
Total operating expenses 2,419 2,110 6,621 6,430
Loss from operations (2,419) (2,110) (6,621) (6,430)
Other income (expense)        
Interest expense (2) (55) (1)
Gain on disposal of mortgage note receivable 106
Loss on disposal of property and equipment (61) (61)
Change in fair value of derivative liabilities 129 (148) 410 621
Total other income (expense), net 68 (150) 400 620
Loss before income taxes (2,351) (2,260) (6,221) (5,810)
Income tax benefit 483 1,459
Net loss and comprehensive loss $ (1,868) $ (2,260) $ (4,762) $ (5,810)
Net loss per common share:        
Loss per share, basic $ (0.06) $ (0.09) $ (0.17) $ (0.24)
Weighted average common shares outstanding, basic 29,923,000 24,268,000 27,360,000 24,009,000
Loss per share, fully diluted $ (0.06) $ (0.09) $ (0.17) $ (0.24)
Weighted average common shares outstanding, diluted 29,923,000 24,268,000 27,360,000 24,009,000

Source

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2018
Sep. 30, 2017
Operating activities:      
Net loss $ (1,868) $ (4,762) $ (5,810)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation   40 77
Stock-based compensation   332 409
Interest expense   55
Gain on mortgage note receivable (106)
Loss on disposal of property and equipment 61 61
Change in deferred income tax   (1,459)
Change in fair value of derivative liabilities (129) (410) (621)
Change in deferred rent   (21) (14)
Changes in operating assets and liabilities:      
Accounts receivable   21
Prepaid expenses and other current assets   (173) 277
Accounts payable and accrued expenses   141 338
Deposits   (18)
Net cash used in operating activities   (6,320) (5,323)
Investing activities:      
Purchase of property and equipment   (13) (40)
Long-term deposits   (12)
Proceeds from mortgage note receivable   1,400
Net cash provided by (used in) investing activities   1,387 (52)
Financing activities:      
Proceeds from issuance of common stock and warrants   7,684 3,000
Proceeds from issuance of convertible notes payable   1,000
Proceeds from exercise of stock options   185 80
Net cash provided by financing activities   8,869 3,080
Net increase (decrease) in cash and restricted cash   3,936 (2,295)
Cash and restricted cash at beginning of period   777 3,640
Cash and restricted cash at end of period 4,713 4,713 1,345
Non-cash financing activity:      
Issuance of commons stock upon conversion of convertible notes payable   2,062
Cash 4,684 4,684 1,345
Restricted cash 29 29
Cash and restricted cash, at end of period $ 4,713 $ 4,713 $ 1,345

Source