Financials

v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash $ 5,994 $ 2,723
Restricted cash 50 29
Accounts receivable 768
Prepaid expenses and other current assets 201 191
Total current assets 7,013 2,943
Property and equipment, net 459 384
Deposits 50 40
Operating lease right-of-use assets, net 720
Goodwill 65,195 65,195
Total assets 73,437 68,562
Current liabilities:    
Accounts payable and accrued expenses 1,690 1,077
Deferred rent 3
Current maturities of finance lease liabilities 154 214
Current maturities of operating lease liabilities 171
Derivative liabilities 90 263
Total current liabilities 2,105 1,557
Long-term liabilities:    
Finance lease liabilities 18 117
Operating lease liabilities 569
Total long-term liabilities 587 117
Total liabilities 2,692 1,674
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par value; 100,000 shares authorized as of September 30, 2019 and December 31, 2018; 31,621 and 29,938 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively 32 30
Additional paid-in capital 258,128 253,949
Accumulated deficit (187,415) (187,091)
Total stockholders' equity 70,745 66,888
Total liabilities and stockholders' equity $ 73,437 $ 68,562

Source

v3.19.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Total Revenues $ 492 $ 6,162
Operating expenses:        
Research and development 1,077 1,467 3,046 3,464
General and administrative 1,223 952 3,597 3,157
Total operating expenses 2,300 2,419 6,643 6,621
Loss from operations (1,808) (2,419) (481) (6,621)
Other (expense) income:        
Interest expense, net (5) (16) (55)
Gain on settlement of mortgage note receivable 106
Loss on disposal of property and equipment (61) (61)
Change in fair value of derivative liabilities 33 129 173 410
Total other income, net 28 68 157 400
Loss before income taxes (1,780) (2,351) (324) (6,221)
Income tax benefit 483 1,459
Net loss $ (1,780) $ (1,868) $ (324) $ (4,762)
Net loss per common share:        
Loss per share, basic and diluted $ (0.06) $ (0.06) $ (0.01) $ (0.17)
Weighted average number of common shares outstanding, basic and diluted 31,621,000 29,923,000 31,201,000 27,360,000
Collaboration Revenue [Member]        
Revenues:        
Total Revenues $ 492 $ 6,162

Source

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income (loss) $ (324) $ (4,762)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 69 40
Amortization of right of use assets 114
Stock-based compensation 253 332
Interest expense, net 55
Loss on disposal of property and equipment 61
Payments on operating lease liabilities (94)
Gain on mortgage note receivable (106)
Change in deferred income tax (1,459)
Change in fair value of derivative liabilities (173) (410)
Changes in operating assets and liabilities:    
Accounts receivable (768)
Prepaid expenses and other current assets (10) (173)
Deposits (10) (18)
Accounts payable and accrued expenses 613 141
Deferred rent (3) (21)
Net cash provided by (used in) operating activities (333) (6,320)
Investing activities:    
Purchases of property and equipment (144) (13)
Long-term deposits
Proceeds from settlement of mortgage note receivable 1,400
Net cash (used in) provided by investing activities (144) 1,387
Financing activities:    
Proceeds from issuance of common stock and warrants 3,928 7,684
Payments on finance lease liabilities (159)  
Proceeds from issuance of convertible notes 1,000
Proceeds from exercise of stock options 185
Net cash provided by financing activities 3,769 8,869
Net increase in cash and restricted cash 3,292 3,936
Cash and restricted cash at beginning of period 2,752 777
Cash and restricted cash at end of period 6,044 4,713
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Recognition of operating lease right-of-use assets and operating lease liabilities upon adoption of ASC Topic 842, Leases 833  
Issuance of commons stock upon conversion of notes payable $ 2,062

Source