Financials

v3.20.2
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 5,498 $ 5,223
Receivables 1,061 993
Inventory 969 998
Prepaid expenses and other current assets 1,162 1,094
Total current assets 8,690 8,308
Property and equipment, net 799 817
Operating lease right-of-use asset 273 397
Total assets 9,762 9,522
Current liabilities:    
Accounts payable 1,528 1,401
Accrued clinical trials expenses 275 309
Accrued sales allowances 64 809
Other accrued liabilities 1,074 809
Operating lease liability, current 292 272
Current portion of long-term debt 1,624 0
Total current liabilities 4,857 3,600
Operating lease liability, non-current 0 150
Long-term debt 3,345 4,019
Warrant liability 0 320
Total liabilities 8,202 8,089
Stockholders' equity:    
Common stock, at amounts paid-in 97 57
Additional paid-in capital 360,725 350,413
Accumulated deficit (359,262) (349,037)
Total stockholders' equity 1,560 1,433
Total liabilities and stockholders' equity $ 9,762 $ 9,522

Source

v3.20.2
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Total revenues $ 1,325 $ 502 $ 2,661 $ 1,447
Operating expenses:        
Cost of goods sold 228 246 399 550
Research and development 2,007 1,907 4,284 3,751
Selling, general and administrative 3,474 3,231 6,589 6,313
Total operating expenses 5,709 5,384 11,272 10,614
Loss from operations (4,384) (4,882) (8,611) (9,167)
Other expense:        
Interest expense, net (250) (253) (472) (499)
Non-cash loss on changes in the fair value of warrants 0 0 (923) 0
Loss on debt extinguishment 0 (65)   (65)
Other income (expense), net (7) 3 (219) 17
Other expense, net (257) (315) (1,614) (547)
Net loss and comprehensive loss $ (4,641) $ (5,197) $ (10,225) $ (9,714)
Basic and diluted net loss per common share $ (0.05) $ (0.38) $ (0.12) $ (0.73)
Weighted average shares used in computing basic and diluted net loss per common share 94,930 13,576 88,785 13,397
License revenue        
Revenues:        
Total revenues $ 6 $ 0 $ 6 $ 313
Product revenue        
Revenues:        
Total revenues 115 304 325 621
Grant revenue        
Revenues:        
Total revenues $ 1,204 $ 198 $ 2,330 $ 513

Source

v3.20.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (10,225) $ (9,714)
Adjustments to reconcile loss to net cash used in operating activities:    
Depreciation and amortization 128 123
Non-cash interest expense 296 335
Non-cash loss on changes in fair value of warrants 923 0
Stock-based compensation (5) 486
Finance costs attributable to issuance of warrants 211 0
Other (6) 8
Changes in operating assets and liabilities:    
Receivables (68) 597
Inventory 29 (55)
Contract assets 0 99
Prepaid expenses and other assets (68) (197)
Accounts payable 127 (501)
Accrued sales allowances (745) 830
Other accrued liabilities 208 (155)
Deferred revenue 0 (313)
Net cash used in operating activities (9,195) (8,457)
Cash flows from investing activities:    
Purchases of property and equipment (87) (83)
Net cash used in investing activities (87) (83)
Cash flows from financing activities:    
Net proceeds from equity offering 1,895 0
Net proceeds from the exercises of common stock warrants 7,008 710
Net loan proceeds 654 0
Net proceeds from the issuance of common stock in an at-the-market offering 0 466
Net cash provided by financing activities 9,557 1,176
Net increase (decrease) in cash and cash equivalents 275 (7,364)
Cash, cash equivalents and restricted cash at beginning of period 5,223 9,656
Cash, cash equivalents and restricted cash at end of period 5,498 2,292
Supplemental disclosure of cash flow information:    
Interest paid 198 219
Non-cash conversion of Molteni Convertible Loan $ 0 $ 650

Source