Financials

v3.8.0.1
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 11,688 $ 14,006
Receivables 91 3,587
Prepaid expenses and other current assets 277 237
Total current assets 12,056 17,830
Property and equipment, net 684 837
Total assets 12,740 18,667
Current liabilities:    
Accounts payable 712 3,015
Accrued clinical trials expenses 706 1,387
Other accrued liabilities 554 455
Total current liabilities 1,972 4,857
Long-term debt 6,725 0
Warrant liabilities 5 619
Total liabilities 8,702 5,476
Commitments and contingencies
Stockholders’ equity:    
Common stock, at amounts paid-in 297,855 297,855
Additional paid-in capital 25,794 24,300
Accumulated deficit (319,611) (308,964)
Total stockholders’ equity 4,038 13,191
Total liabilities and stockholders’ equity $ 12,740 $ 18,667

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v3.8.0.1
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
License revenue $ 40 $ 26 $ 157 $ 15,030
Total revenue 40 26 157 15,030
Operating expenses:        
Research and development 2,714 1,590 7,341 4,036
General and administrative 1,396 1,052 3,944 3,397
Total operating expenses 4,110 2,642 11,285 7,433
Income (loss) from operations (4,070) (2,616) (11,128) 7,597
Other expense:        
Other expense, net (123) 1 (133) (24)
Non-cash gain (loss) on changes in the fair value of warrants 2 (5) 614 (111)
Other income (expense), net (121) (4) 481 (135)
Net income (loss) and comprehensive income (loss) $ (4,191) $ (2,620) $ (10,647) $ 7,462
Basic net income (loss) per common share $ (0.20) $ (0.12) $ (0.50) $ 0.36
Diluted net income (loss) per common share $ (0.20) $ (0.12) $ (0.53) $ 0.35
Weighted average shares used in computing basic net income (loss) per common share 21,204 21,199 21,202 20,591
Weighted average shares used in computing diluted net income (loss) per common share 21,204 21,199 21,222 21,447

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v3.8.0.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income (loss) $ (10,647) $ 7,462
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 308 279
Non-cash (gain) loss on changes in fair value of warrants (614) 111
Stock-based compensation 1,207 783
Changes in operating assets and liabilities:    
Receivables 3,496 (1,695)
Prepaid expenses and other assets (40) (104)
Accounts payable and other accrued liabilities (2,885) 1,865
Net cash provided by (used in) operating activities (9,175) 8,701
Cash flows from investing activities:    
Purchases of furniture and equipment (155) (96)
Net cash used in investing activities (155) (96)
Cash flows from financing activities:    
Issuance of common stock from the exercise of options 0 27
Issuance of warrants 287 0
Proceeds from long-term debt 6,725 0
Net cash provided by financing activities 7,012 27
Net increase (decrease) in cash and cash equivalents (2,318) 8,632
Cash and cash equivalents at beginning of period 14,006 7,857
Cash and cash equivalents at end of period $ 11,688 $ 16,489

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