Financials

v3.10.0.1
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 8,427 $ 7,522
Restricted cash 361 361
Receivables 682 65
Inventory 1,293 0
Contract assets 195 0
Prepaid expenses and other current assets 567 362
Total current assets 11,525 8,310
Property and equipment, net 329 595
Total assets 11,854 8,905
Current liabilities:    
Accounts payable 686 821
Accrued clinical trials expenses 453 289
Other accrued liabilities 437 354
Deferred revenue 626 0
Current portion of long-term debt 0 3,000
Total current liabilities 2,202 4,464
Long-term debt, net of discount 4,146 3,584
Derivative liability 17 0
Total liabilities 6,365 8,048
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value per share; 125,000,000 shares authorized, 39,367,744, and 21,203,744 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively. 39 21
Additional paid-in capital 334,525 324,107
Accumulated deficit (329,075) (323,271)
Total stockholders' equity 5,489 857
Total liabilities and stockholders' equity $ 11,854 $ 8,905

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v3.10.0.1
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
License revenue $ 1,406 $ 40 $ 5,063 $ 157
Product revenue 244 0 318 0
Total revenue 1,650 40 5,381 157
Operating expenses:        
Cost of goods sold 178 0 248 0
Research and development 1,910 2,714 5,623 7,341
General and administrative 1,514 1,396 4,508 3,944
Total operating expenses 3,602 4,110 10,379 11,285
Loss from operations (1,952) (4,070) (4,998) (11,128)
Other expense:        
Other expense, net (234) (123) (662) (133)
Non-cash gain on changes in fair value 141 2 141 614
Other income (expense), net (93) (121) (521) 481
Net loss and comprehensive loss (2,045) (4,191) (5,519) (10,647)
Deemed dividend on trigger of down round provision (285) 0 (285) 0
Net loss attributable to common stockholders $ (2,330) $ (4,191) $ (5,804) $ (10,647)
Basic net loss per common share $ (0.11) $ (0.20) $ (0.27) $ (0.50)
Diluted net loss per common share $ (0.11) $ (0.20) $ (0.28) $ (0.53)
Weighted average shares used in computing basic net loss per common share 21,902 21,204 21,439 21,202
Weighted average shares used in computing diluted net loss per common share 21,902 21,204 21,439 21,222

Source

v3.10.0.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:        
Net loss $ (2,045) $ (4,191) $ (5,519) $ (10,647)
Adjustments to reconcile net loss to net cash used in operating activities:        
Non-cash gain on inventory received from termination of license agreement     (1,293) 0
Depreciation and amortization     337 308
Non-cash interest expense     331 0
Non-cash gain on changes in fair value of warrants (141) (2,000) (141) (614)
Non-cash gain on changes in fair value of derivatives 141 2 141 614
Stock-based compensation     1,222 1,207
Changes in operating assets and liabilities:        
Receivables     (617) 3,496
Contract assets     24 0
Prepaid expenses and other assets     (205) (40)
Accounts payable and other accrued liabilities     112 (2,885)
Deferred revenue     626 0
Net cash used in operating activities     (5,123) (9,175)
Cash flows from investing activities:        
Purchases of furniture and equipment     (71) (155)
Net cash used in investing activities     (71) (155)
Cash flows from financing activities:        
Sale of common & preferred stock     8,408 0
Issuance of warrants     51 287
Proceeds from long-term debt     640 6,725
Payments on long-term debt     (3,000) 0
Net cash provided by financing activities     6,099 7,012
Net increase (decrease) in cash, cash equivalents and restricted cash     905 (2,318)
Cash, cash equivalents and restricted cash at beginning of period     7,883 14,006
Cash, cash equivalents and restricted cash at end of period 8,788 11,688 8,788 11,688
Supplemental disclosure of cash flow information        
Interest paid     344 124
Warrants issued     6,348 287
Deemed dividend on trigger of down round provision 285 0 285 0
Derivatives issued     158 0
Schedule of non-cash transactions        
Cash and cash equivalents 8,427 11,688 8,427 11,688
Restricted cash 361 0 361 0
Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 8,788 $ 11,688 $ 8,788 $ 11,688

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