Financials

v3.10.0.1
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 1,614 $ 7,522
Restricted cash 361 361
Receivables 189 65
Inventory 1,317 0
Contract assets 291 0
Prepaid expenses and other current assets 421 362
Total current assets 4,193 8,310
Property and equipment, net 424 595
Total assets 4,617 8,905
Current liabilities:    
Accounts payable 575 821
Accrued clinical trials expenses 474 289
Other accrued liabilities 401 354
Deferred revenue 939 0
Current portion of long-term debt 0 3,000
Total current liabilities 2,389 4,464
Long-term debt, net of discount 3,541 3,584
Total liabilities 5,930 8,048
Commitments and contingencies
Stockholders' equity (deficit):    
Common stock, at amounts paid-in 297,855 297,855
Additional paid-in capital 27,577 26,273
Accumulated deficit (326,745) (323,271)
Total stockholders' equity (deficit) (1,313) 857
Total liabilities and stockholders' equity (deficit) $ 4,617 $ 8,905

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v3.10.0.1
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
License revenue $ 2,593 $ 77 $ 3,657 $ 117
Product revenue 75 0 75 0
Revenues 2,668 77 3,732 117
Operating expenses:        
Cost of goods sold 70 0 70 0
Research and development 1,857 2,501 3,713 4,627
General and administrative 1,380 1,197 2,995 2,548
Total operating expenses 3,307 3,698 6,778 7,175
Income (loss) from operations (639) (3,621) (3,046) (7,058)
Other expense:        
Other expense, net (230) (20) (428) (10)
Non-cash gain on changes in the fair value of warrants 0 190 0 612
Other income (expense), net (230) 170 (428) 602
Net loss and comprehensive loss $ (869) $ (3,451) $ (3,474) $ (6,456)
Basic net loss per common share $ (0.04) $ (0.16) $ (0.16) $ (0.30)
Diluted net loss per common share $ (0.04) $ (0.17) $ (0.16) $ (0.33)
Weighted average shares used in computing basic net loss per common share 21,204 21,204 21,204 21,199
Weighted average shares used in computing diluted net loss per common share 21,204 21,204 21,204 21,201

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v3.10.0.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:        
Net loss $ (869) $ (3,451) $ (3,474) $ (6,456)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization     224 203
Non-cash interest expense     208 0
Non-cash gain on changes in fair value of warrants 0 (190) 0 (612)
Stock-based compensation     834 803
Changes in operating assets and liabilities:        
Receivables     (124) 3,500
Inventory     (1,317) 0
Contract assets     (72) 0
Prepaid expenses and other assets     (59) (80)
Accounts payable and other accrued liabilities     (14) (2,988)
Deferred revenue     939 0
Net cash used in operating activities     (2,855) (5,630)
Cash flows from investing activities:        
Purchases of furniture and equipment     (53) (26)
Net cash used in investing activities     (53) (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     (5,908) (5,656)
Cash and cash equivalents at beginning of period     7,883 14,006
Cash and cash equivalents at end of period 1,975 8,350 1,975 8,350
Supplemental disclosure of cash flow information        
Interest paid     234 0
Warrants issued     470 0
Schedule of non-cash transactions        
Cash and cash equivalents 1,614 8,350 1,614 8,350
Restricted cash 361 0 361 0
Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 1,975 $ 8,350 $ 1,975 $ 8,350

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