Financials

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 31,781 $ 7,418
Restricted cash 50 50
Accounts receivable 581 644
Prepaid expenses and other current assets 487 169
Total current assets 32,899 8,281
Property and equipment, net 635 431
Deposits 46 50
Operating lease right-of-use assets, net (including $51 to related party) 544 677
Goodwill 19,092 19,092
Total assets 53,216 28,531
Current liabilities:    
Accounts payable and accrued expenses 2,350 1,999
Current maturities of finance lease liabilities 40 103
Current maturities of operating lease liabilities (including $53 to related party) 188 177
Derivative liabilities 36 7
Total current liabilities 2,614 2,286
Long-term liabilities:    
Finance lease liabilities 44 14
Operating lease liabilities (including $0 to related party) 381 523
Total long-term liabilities 425 537
Total liabilities 3,039 2,823
Commitments and contingencies  
Stockholders' equity:    
Common stock, $0.001 par value; 100,000 shares authorized as of September 30, 2020 and December 31, 2019; 68,564 and 35,150 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively 69 36
Additional paid-in capital 293,523 260,932
Accumulated deficit (243,415) (235,260)
Total stockholders' equity 50,177 25,708
Total liabilities and stockholders' equity $ 53,216 $ 28,531

Source

v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Total revenue $ 489 $ 492 $ 1,504 $ 6,162
Operating expenses:        
Research and development 2,077 1,077 5,336 3,046
General and administrative 1,121 1,223 4,288 3,597
Total operating expenses 3,198 2,300 9,624 6,643
Loss from operations (2,709) (1,808) (8,120) (481)
Other income (expense):        
Interest expense, net (2) (5) (6) (16)
Change in fair value of derivative liabilities 41 33 (29) 173
Total other income (expense), net 39 28 (35) 157
Net loss $ (2,670) $ (1,780) $ (8,155) $ (324)
Net loss per common share:        
Loss per share, basic and diluted $ (0.05) $ (0.06) $ (0.16) $ (0.01)
Weighted average number of common shares outstanding, basic and diluted 57,555 31,621 50,491 31,201
Collaboration Revenue [Member]        
Revenues:        
Total revenue $ 489 $ 492 $ 1,504 $ 6,162

Source

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net loss $ (8,155) $ (324)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 112 69
Amortization of right of use assets 133 114
Stock-based compensation 463 253
Payments on operating lease liabilities (131) (94)
Change in fair value of derivative liabilities 29 (173)
Changes in operating assets and liabilities:    
Accounts receivable 63 (768)
Prepaid expenses and other current assets (318) (10)
Deposits 4 (10)
Accounts payable and accrued expenses 351 613
Deferred rent (3)
Net cash used in operating activities (7,449) (333)
Investing activities:    
Purchases of property and equipment (239) (144)
Net cash used in investing activities (239) (144)
Financing activities:    
Proceeds from issuance of common stock 32,161 3,928
Payments on finance lease liabilities (110) (159)
Net cash provided by financing activities 32,051 3,769
Net increase in cash and restricted cash 24,363 3,292
Cash and restricted cash at beginning of period 7,468 2,752
Cash and restricted cash at end of period 31,831 6,044
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Recognition of finance lease right-of-use asset and liability 77
Recognition of operating lease right-of-use assets and operating lease liabilities upon adoption of ASC Topic 842, Leases $ 833

Source