Financials

v3.6.0.2
BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 14,006 $ 7,857
Receivables 3,587 4,213
Prepaid expenses and other current assets 237 174
Total current assets 17,830 12,244
Property and equipment, net 837 1,043
Total Assets 18,667 13,287
Current liabilities:    
Accounts payable 3,015 4,158
Accrued clinical trials expenses 1,387 341
Other accrued liabilities 455 354
Total current liabilities 4,857 4,853
Warrant liability 619 1,444
Total Liabilities 5,476 6,297
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value per share; 5,000,000 shares authorized, none issued and outstanding at December 31, 2016 and 2015. 0 0
Common stock, at amounts paid-in, $0.001 par value per share; 125,000,000 shares authorized, 21,198,879 and 20,059,820 shares issued and outstanding at December 31, 2016 and 2015, respectively. 297,855 297,828
Additional paid-in capital 24,300 23,261
Accumulated deficit (308,964) (314,099)
Total stockholders’ equity 13,191 6,990
Total Liabilities and Stockholders’ Equity $ 18,667 $ 13,287

Source

v3.6.0.2
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenue:      
License revenue $ 15,065 $ 1,671 $ 3,646
Total revenue 15,065 1,671 3,646
Operating expenses:      
Research and development 6,126 4,675 4,075
General and administrative 4,596 3,755 3,046
Total operating expenses 10,722 8,430 7,121
Income (loss) from operations 4,343 (6,759) (3,475)
Other income (expense):      
Interest income, net 37 0 0
Other income (expense), net (70) (8) (11)
Non-cash gain (loss) on changes in the fair value of warrants 825 (4,512) 1,083
Other income (expense), net 792 (4,520) 1,072
Net income (loss) and comprehensive income (loss) applicable to common stockholders $ 5,135 $ (11,279) $ (2,403)
Basic net income (loss) per common share $ 0.25 $ (0.56) $ (0.14)
Diluted net income (loss) per common share $ 0.20 $ (0.56) $ (0.20)
Weighted average shares used in computing basic net income (loss) per common share 20,744 20,053 17,057
Weighted average shares used in computing diluted net income (loss) per common share 21,459 20,053 17,060

Source

v3.6.0.2
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income (loss) $ 5,135 $ (11,279) $ (2,403)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 377 358 353
Non-cash (gain) loss on changes in fair value of warrants (825) 4,512 (1,083)
Stock-based compensation 1,039 1,026 543
Changes in operating assets and liabilities:      
Receivables 626 (245) 850
Prepaid expenses and other assets (63) (29) 59
Accounts payable (1,143) (250) (710)
Other accrued liabilities 1,147 112 172
Deferred contract revenue 0 (1,671) (3,646)
Net cash provided by (used in) operating activities 6,293 (7,466) (5,865)
Cash flows from investing activities:      
Purchases of furniture and equipment (171) (133) (18)
Net cash used in investing activities (171) (133) (18)
Cash flows from financing activities:      
Proceeds from issuance of common stock from the exercise of stock options 27 0 0
Proceeds from issuance of common stock and warrants, net of issuance costs 0 0 9,591
Issuance of common stock from the vesting of restricted shares 0 (14) (36)
Net cash provided by (used in) financing activities 27 (14) 9,555
Net increase (decrease) in cash 6,149 (7,613) 3,672
Cash and cash equivalents at beginning of period 7,857 15,470 11,798
Cash and cash equivalents at end of period $ 14,006 7,857 $ 15,470
Supplemental disclosure of cash flow information      
Fair value of warrants at the time of reclassification to equity   $ 8,646  

Source