Financials

v3.5.0.2
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 16,489 $ 7,857
Receivables 5,908 4,213
Prepaid expenses and other current assets 278 174
Total current assets 22,675 12,244
Property and equipment, net 860 1,043
Total assets 23,535 13,287
Current liabilities:    
Accounts payable 4,954 4,158
Accrued clinical trials expenses 1,248 341
Other accrued liabilities 516 354
Total current liabilities 6,718 4,853
Warrant liabilities 1,555 1,444
Total liabilities 8,273 6,297
Commitments and contingencies
Stockholders’ equity:    
Common stock, at amounts paid-in 297,855 297,828
Additional paid-in capital 24,044 23,261
Accumulated deficit (306,637) (314,099)
Total stockholders’ equity 15,262 6,990
Total liabilities and stockholders’ equity $ 23,535 $ 13,287

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v3.5.0.2
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
License revenue $ 26 $ 0 $ 15,030 $ 1,671
Total revenue 26 0 15,030 1,671
Operating expenses:        
Research and development 1,590 1,010 4,036 3,540
General and administrative 1,052 792 3,397 2,640
Total operating expenses 2,642 1,802 7,433 6,180
Income (loss) from operations (2,616) (1,802) 7,597 (4,509)
Other expense:        
Other income (expense), net 1 (3) (24) (10)
Non-cash loss on changes in the fair value of warrants (5) (2) (111) (4,466)
Other expense, net (4) (5) (135) (4,476)
Net income (loss) and comprehensive income (loss) $ (2,620) $ (1,807) $ 7,462 $ (8,985)
Basic net income (loss) per common share $ (0.12) $ (0.09) $ 0.36 $ (0.45)
Diluted net income (loss) per common share $ (0.12) $ (0.09) $ 0.35 $ (0.45)
Weighted average shares used in computing basic net income (loss) per common share 21,199 20,060 20,591 20,050
Weighted average shares used in computing diluted net income (loss) per common share 21,199 20,060 21,447 20,050

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v3.5.0.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income (loss) $ 7,462 $ (8,985)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 279 265
Non-cash loss on changes in fair value of warrants 111 4,466
Stock-based compensation 783 659
Changes in operating assets and liabilities:    
Receivables (1,695) 70
Prepaid expenses and other assets (104) (117)
Accounts payable and other accrued liabilities 1,865 (397)
Deferred contract revenue 0 (1,671)
Net cash provided by (used in) operating activities 8,701 (5,710)
Cash flows from investing activities:    
Purchases of furniture and equipment (96) (56)
Net cash used in investing activities (96) (56)
Cash flows from financing activities:    
Issuance of common stock from the exercise of options 27 0
Issuance of common stock from the vesting of restricted shares 0 (14)
Net cash provided by (used in) financing activities 27 (14)
Net increase (decrease) in cash and cash equivalents 8,632 (5,780)
Cash at beginning of period 7,857 15,470
Cash at end of period 16,489 9,690
Schedule of non-cash transactions    
Fair value of warrants at the time of reclassification to equity $ 0 $ 8,646

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