Financials

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash $ 61,644,000 $ 33,010,000
Restricted cash 50,000 50,000
Accounts receivable 556,000
Prepaid expenses and other current assets 747,000 399,000
Total current assets 62,441,000 34,015,000
Property and equipment, net 493,000 591,000
Deposits 46,000 46,000
Operating lease right-of-use assets, net (including $167 and $37, respectively, to related party) 526,000 498,000
Goodwill 19,092,000 19,092,000
Total assets 82,598,000 54,242,000
Current liabilities:    
Accounts payable and accrued expenses 961,000 1,080,000
Current maturities of finance lease liabilities 29,000 39,000
Current maturities of operating lease liabilities (including $167 and $39, respectively, to related party) 204,000 178,000
Derivative liabilities 34,000 61,000
Total current liabilities 1,228,000 1,358,000
Long-term liabilities:    
Finance lease liabilities 14,000 34,000
Operating lease liabilities 344,000 345,000
Total long-term liabilities 358,000 379,000
Total liabilities 1,586,000 1,737,000
Commitments and contingencies (note 9)
Stockholders’ equity:    
Common stock, $0.001 par value; 150,000 and 100,000 shares authorized; 97,469 and 70,439 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively 98,000 71,000
Additional paid-in capital 336,322,000 297,342,000
Accumulated deficit (255,408,000) (244,908,000)
Total stockholders’ equity 81,012,000 52,505,000
Total liabilities and stockholders’ equity $ 82,598,000 $ 54,242,000

Source

v3.21.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Collaboration revenue $ 489,000 $ 1,504,000
Operating expenses:        
Research and development 2,165,000 2,077,000 6,489,000 5,336,000
General and administrative 1,788,000 1,121,000 4,030,000 4,288,000
Total operating expenses 3,953,000 3,198,000 10,519,000 9,624,000
Loss from operations (3,953,000) (2,709,000) (10,519,000) (8,120,000)
Other income (expense):        
Interest expense, net (1,000) (2,000) (4,000) (6,000)
Foreign exchange loss (4,000) (4,000)
Change in fair value of derivative liabilities 17,000 41,000 27,000 (29,000)
Total other income (expense), net 12,000 39,000 19,000 (35,000)
Net loss $ (3,941,000) $ (2,670,000) $ (10,500,000) $ (8,155,000)
Net loss per common share, basic and diluted $ (0.04) $ (0.05) $ (0.12) $ (0.16)
Weighted average number of common shares outstanding, basic and diluted 97,469 57,555 85,301 50,491

Source

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net loss $ (10,500) $ (8,155)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 142 112
Amortization of right of use assets 143 133
Stock-based compensation 502 463
Payments on operating lease liabilities (146) (131)
Change in fair value of derivative liabilities (27) 29
Changes in operating assets and liabilities:    
Accounts receivable 550 63
Prepaid expenses and other current assets (342) (318)
Deposits 4
Accounts payable and accrued expenses (119) 351
Net cash used in operating activities (9,797) (7,449)
Investing activities:    
Purchases of property and equipment (44) (239)
Net cash used in investing activities (44) (239)
Financing activities:    
Payments on finance lease liabilities (30) (110)
Proceeds from sale of common stock, net of transaction costs 38,505 32,161
Net cash provided by financing activities 38,475 32,051
Net increase in cash and restricted cash 28,634 24,363
Cash and restricted cash at beginning of period 33,060 7,468
Cash and restricted cash at end of period 61,694 31,831
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 asset and liability $ 171

Source