Financials

v3.7.0.1
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 8,350 $ 14,006
Receivables 87 3,587
Prepaid expenses and other current assets 317 237
Total current assets 8,754 17,830
Property and equipment, net 660 837
Total assets 9,414 18,667
Current liabilities:    
Accounts payable 928 3,015
Accrued clinical trials expenses 385 1,387
Other accrued liabilities 556 455
Total current liabilities 1,869 4,857
Warrant liabilities 7 619
Total liabilities 1,876 5,476
Commitments and contingencies
Stockholders’ equity:    
Common stock, at amounts paid-in 297,855 297,855
Additional paid-in capital 25,103 24,300
Accumulated deficit (315,420) (308,964)
Total stockholders’ equity 7,538 13,191
Total liabilities and stockholders' equity $ 9,414 $ 18,667

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v3.7.0.1
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
License revenue $ 77 $ 15,004 $ 117 $ 15,004
Total revenue 77 15,004 117 15,004
Operating expenses:        
Research and development 2,501 1,746 4,627 2,446
General and administrative 1,197 1,214 2,548 2,345
Total operating expenses 3,698 2,960 7,175 4,791
Income (loss) from operations (3,621) 12,044 (7,058) 10,213
Other expense:        
Other expense, net (20) (6) (10) (25)
Non-cash gain (loss) on changes in the fair value of warrants 190 (110) 612 (106)
Other income (expense), net 170 (116) 602 (131)
Net income (loss) and comprehensive income (loss) $ (3,451) $ 11,928 $ (6,456) $ 10,082
Basic net income (loss) per common share $ (0.16) $ 0.58 $ (0.3) $ 0.5
Diluted net income (loss) per common share $ (0.17) $ 0.55 $ (0.33) $ 0.48
Weighted average shares used in computing basic net income (loss) per common share 21,204 20,508 21,199 20,284
Weighted average shares used in computing diluted net income (loss) per common share 21,204 21,878 21,201 21,223

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v3.7.0.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income (loss) $ (6,456) $ 10,082
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 203 186
Non-cash (gain) loss on changes in fair value of warrants (612) 106
Stock-based compensation 803 581
Changes in operating assets and liabilities:    
Receivables 3,500 (638)
Prepaid expenses and other assets (80) (63)
Accounts payable and other accrued liabilities (2,988) 1,215
Net cash provided by (used in) operating activities (5,630) 11,469
Cash flows from investing activities:    
Purchases of furniture and equipment (26) (48)
Net cash used in investing activities (26) (48)
Cash flows from financing activities:    
Issuance of common stock from the exercise of options 0 27
Net cash provided by (used in) financing activities 0 27
Net increase (decrease) in cash and cash equivalents (5,656) 11,448
Cash and cash equivalents at beginning of period 14,006 7,857
Cash and cash equivalents at end of period $ 8,350 $ 19,305

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