Financials

v3.8.0.1
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 3,465 $ 7,522
Restricted cash 361 361
Receivables 27 65
Contract assets 291 0
Prepaid expenses and other current assets 605 362
Total current assets 4,749 8,310
Property and equipment, net 541 595
Total assets 5,290 8,905
Current liabilities:    
Accounts payable 345 821
Accrued clinical trials expenses 408 289
Other accrued liabilities 556 354
Deferred revenue 1,409 0
Current portion of long-term debt 0 3,000
Total current liabilities 2,718 4,464
Long-term debt, net of debt discount 3,418 3,584
Total liabilities 6,136 8,048
Commitments and contingencies
Stockholders’ equity (deficit):    
Common stock, at amounts paid-in 297,855 297,855
Additional paid-in capital 27,175 26,273
Accumulated deficit (325,876) (323,271)
Total stockholders’ equity (deficit) (846) 857
Total liabilities and stockholders’ equity (deficit) $ 5,290 $ 8,905

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v3.8.0.1
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues:    
License revenue $ 1,064 $ 40
Total revenue 1,064 40
Operating expenses:    
Research and development 1,856 2,126
General and administrative 1,615 1,351
Total operating expenses 3,471 3,477
Loss from operations (2,407) (3,437)
Other income (expense):    
Other income (expense), net (198) 10
Non-cash gain on changes in the fair value of warrants 0 422
Other income (expense), net (198) 432
Net loss and comprehensive loss $ (2,605) $ (3,005)
Basic net loss per common share $ (0.12) $ (0.14)
Diluted net loss per common share $ (0.12) $ (0.16)
Weighted average shares used in computing basic net loss per common share 21,204 21,199
Weighted average shares used in computing diluted net loss per common share 21,204 21,376

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v3.8.0.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (2,605) $ (3,005)
Adjustments to reconcile loss to net cash used in operating activities:    
Depreciation and amortization 112 101
Non-cash interest expense 85 0
Non-cash gain on changes in fair value of warrants 0 (422)
Stock-based compensation 432 421
Changes in operating assets and liabilities:    
Receivables 38 2,578
Contract assets (72) 0
Prepaid expenses and other assets (243) (196)
Accounts payable and other accrued liabilities (155) (2,587)
Deferred revenue 1,409 0
Net cash used in operating activities (999) (3,110)
Cash flows from investing activities:    
Purchases of furniture and equipment (58) (26)
Net cash used in investing activities (58) (26)
Cash flows from financing activities:    
Payments on long-term debt (3,000) 0
Net cash used in financing activities (3,000) 0
Net decrease in cash and cash equivalents (4,057) (3,136)
Cash, cash equivalents and restricted cash at beginning of period 7,883 14,006
Cash, cash equivalents and restricted cash at end of period 3,826 10,870
Supplemental disclosure of cash flow information    
Interest paid 123 0
Warrants issued 470 0
Schedule of non-cash transactions    
Cash and cash equivalents 3,465 10,870
Restricted cash 361 0
Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 3,826 $ 10,870

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