Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 6,841 $ 748
Restricted cash 29 29
Prepaid expenses and other current assets 229 105
Mortgage note receivable, current portion 1,294
Total current assets 7,099 2,176
Property and equipment, net 95 119
Deposits 31 31
In process research and development 53,905 53,905
Goodwill 65,195 65,195
Total assets 126,325 121,426
Current liabilities:    
Accounts payable and accrued expenses 765 837
Derivative liabilities 288 569
Total current liabilities 1,053 1,406
Long-term liabilities    
Deferred rent 17 31
Convertible notes payable 1,007
Deferred tax liability 12,609 13,582
Total long-term liabilities 12,626 14,620
Total liabilities 13,679 16,026
Commitments and contingencies (Note 10)
Common stock, $0.001 par value; 800,000 shares authorized; 29,923 and 24,275 issued and outstanding as of June 30, 2018 and December 31, 2017, respectively 30 24
Additional paid-in capital 253,556 243,419
Accumulated deficit (140,940) (138,043)
Total stockholders' equity 112,646 105,400
Total liabilities and stockholders' equity $ 126,325 $ 121,426

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v3.10.0.1
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Operating expenses        
Research and development $ 1,119 $ 1,255 $ 1,997 $ 3,325
General and administrative 1,013 (55) 2,205 996
Total operating expenses 2,132 1,200 4,202 4,321
Loss from operations (2,132) (1,200) (4,202) (4,321)
Other income (expense)        
Interest income/(expense) (24) (55) 1
Gain on disposal of mortgage note 106
Change in fair value of derivative liabilities 259 198 281 769
Total other income (expense), net (235) 198 332 770
Loss before income taxes (1,897) (1,002) (3,870) (3,551)
Income tax benefit 554 973
Net loss and comprehensive loss $ (1,343) $ (1,002) $ (2,897) $ (3,551)
Net loss per common share:        
Loss per share, basic $ (0.05) $ (0.04) $ (0.11) $ (0.15)
Weighted average common shares outstanding, basic 27,716,000 24,154,000 26,050,000 23,978,000
Loss per share, fully diluted $ (0.05) $ (0.04) $ (0.11) $ (0.15)
Weighted average common shares outstanding, diluted 27,716,000 24,154,000 26,050,000 23,978,000

Source

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities:    
Net loss $ (2,897) $ (3,551)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 29 52
Stock-based compensation 212 268
Interest expense 55
Gain on mortgage note receivable (106)
Change in deferred income tax (973)
Change in fair value of derivative liabilities (281) (769)
Change in deferred rent (14) (9)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (124) 342
Accounts payable and accrued expenses (72) 530
Net cash used in operating activities (4,171) (3,137)
Investing activities:    
Purchase of fixed assets (5) (40)
Long-term deposits (12)
Proceeds from mortgage note receivable 1,400
Net cash provided by (used in) investing activities 1,395 (52)
Financing activities:    
Proceeds from issuance of common stock and warrants 7,684 3,000
Proceeds from issuance of notes payable 1,000
Proceeds from exercise of stock options 185
Net cash provided by financing activities 8,869 3,000
Net increase (decrease) in cash and cash equivalents 6,093 (189)
Cash and cash equivalents at beginning of period 777 3,640
Cash and cash equivalents at end of period 6,870 3,451
Non-cash financing activity:    
Issuance of commons stock upon conversion of notes payable $ 2,062

Source