Financials

v3.19.3
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 921 $ 9,295
Restricted cash 0 361
Receivables 775 1,737
Inventory 1,309 1,262
Contract assets 0 99
Prepaid expenses and other current assets 941 547
Total current assets 3,946 13,301
Property and equipment, net 752 794
Operating lease right-of-use asset 456 0
Deferred offering costs 150 0
Total assets 5,304 14,095
Current liabilities:    
Accounts payable 1,383 1,526
Accrued clinical trials expenses 434 620
Accrued sales allowances 750 0
Other accrued liabilities 653 466
Deferred revenue 0 313
Operating lease liability, current 262 0
Current portion of long-term debt 0 527
Total current liabilities 3,482 3,452
Operating lease liability, non-current 222 0
Long-term debt 3,872 3,787
Warrant liability 388 0
Derivative liability 0 25
Total liabilities 7,964 7,264
Stockholders' (deficit) equity:    
Common stock, $0.001 par value per share: 125,000 shares authorized; 17,114 and 13,010 shares issued and outstanding at September 30, 2019 and December 31, 2018 17 13
Additional paid-in capital 342,419 339,397
Accumulated deficit (345,096) (332,579)
Total stockholders' (deficit) equity (2,660) 6,831
Total liabilities and stockholders' (deficit) equity $ 5,304 $ 14,095

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v3.19.3
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
USD ($)
$ / shares
shares
Sep. 30, 2018
USD ($)
$ / shares
shares
Sep. 30, 2019
USD ($)
$ / shares
shares
Sep. 30, 2018
USD ($)
$ / shares
shares
Revenues:        
Total revenues $ 947 $ 1,650 $ 2,394 $ 5,381
Operating expenses:        
Cost of goods sold 188 178 738 248
Research and development 1,619 1,910 5,370 5,623
Selling, general and administrative 3,023 1,514 9,336 4,508
Total operating expenses 4,830 3,602 15,444 10,379
Loss from operations (3,883) (1,952) (13,050) (4,998)
Other income (expense):        
Interest expense, net (238) (227) (737) (650)
Gain on debt extinguishment, net 291 0 226 0
Non-cash gain on changes in fair value 1,041 141 1,066 141
Other expense, net (14) (7) (22) (12)
Other income (expense), net 1,080 (93) 533 (521)
Net loss and comprehensive loss (2,803) (2,045) (12,517) (5,519)
Deemed dividend on trigger of down round provision 0 (285) 0 (285)
Net loss and comprehensive loss attributable to common stockholders $ (2,803) $ (2,330) $ (12,517) $ (5,804)
Basic net loss per share | $ / shares $ (0.18) $ (0.64) $ (0.89) $ (1.62)
Diluted net loss per share | $ / shares $ (0.18) $ (0.68) $ (0.89) $ (1.66)
Weighted-average shares for basic and diluted net loss per share | shares 15,517 3,650 14,112 3,573
License revenue        
Revenues:        
Total revenues $ 0 $ 1,406 $ 313 $ 5,063
Product revenue        
Revenues:        
Total revenues 190 244 811 318
Grant revenue        
Revenues:        
Total revenues $ 757 $ 0 $ 1,270 $ 0

Source

v3.19.3
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (12,517) $ (5,519)
Adjustments to reconcile loss to net cash used in operating activities:    
Depreciation and amortization 186 337
Non-cash interest expense 467 331
Non-cash gain on inventory received from termination of license agreement 0 (1,293)
Non-cash gain on changes in fair value (1,066) (141)
Stock-based compensation 614 1,222
Other (262) 0
Changes in operating assets and liabilities:    
Receivables 962 (617)
Prepaid expenses and other assets (492) (181)
Accounts payable and other liabilities (111) 112
Accrued sales allowances 750 0
Deferred revenue (313) 626
Net cash used in operating activities (11,782) (5,123)
Cash flows from investing activities:    
Purchases of property and equipment (144) (71)
Net cash used in investing activities (144) (71)
Cash flows from financing activities:    
Net proceeds from the exercises of common stock warrants 724 0
Net proceeds from equity offerings 2,467 8,459
Proceeds from long-term debt 0 640
Payments of long-term debt 0 (3,000)
Net cash provided by financing activities 3,191 6,099
Change in cash, cash equivalents and restricted cash (8,735) 905
Cash, cash equivalents and restricted cash at beginning of period 9,656 7,883
Cash, cash equivalents and restricted cash at end of period 921 8,788
Supplemental disclosure of cash flow information:    
Interest paid 328 344
Warrants issued 0 6,348
Derivatives issued 0 158
Deemed dividend on trigger of down round provision 0 285
Schedule of non-cash transactions    
Restricted cash 0 361
Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 9,656 $ 7,883

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