Financials

v3.19.2
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 2,292 $ 9,295
Restricted cash 0 361
Receivables 1,140 1,737
Inventory 1,317 1,262
Contract assets 0 99
Prepaid expenses and other current assets 744 547
Total current assets 5,493 13,301
Property and equipment, net 754 794
Operating lease right-of-use asset 514 0
Total assets 6,761 14,095
Current liabilities:    
Accounts payable 1,025 1,526
Accrued clinical trials expenses 504 620
Accrued sales allowances 830 0
Other accrued liabilities 397 466
Deferred revenue 0 313
Operating lease liability, current 253 0
Current portion of long-term debt 1,333 527
Total current liabilities 4,342 3,452
Operating lease liability, non-current 292 0
Long-term debt 2,698 3,787
Derivative liability 0 25
Total liabilities 7,332 7,264
Stockholders' (deficit) equity:    
Common stock, $0.001 par value per share: 125,000 shares authorized; 14,262 and 13,010 shares issued and outstanding at June 30, 2019 and December 31, 2018 14 13
Additional paid-in capital 341,708 339,397
Accumulated deficit (342,293) (332,579)
Total stockholders' (deficit) equity (571) 6,831
Total liabilities and stockholders' (deficit) equity $ 6,761 $ 14,095

Source

v3.19.2
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
USD ($)
$ / shares
shares
Jun. 30, 2018
USD ($)
$ / shares
shares
Jun. 30, 2019
USD ($)
$ / shares
shares
Jun. 30, 2018
USD ($)
$ / shares
shares
Revenues:        
Total revenues $ 502 $ 2,668 $ 1,447 $ 3,732
Operating expenses:        
Cost of goods sold 246 70 550 70
Research and development 1,907 1,857 3,751 3,713
Selling, general and administrative 3,231 1,380 6,313 2,995
Total operating expenses 5,384 3,307 10,614 6,778
Loss from operations (4,882) (639) (9,167) (3,046)
Other expense:        
Interest expense, net (253) (230) (499) (428)
Loss on debt extinguishment (65) 0 (65) 0
Other income, net 3 0 17 0
Other expense, net (315) (230) (547) (428)
Net loss and comprehensive loss $ (5,197) $ (869) $ (9,714) $ (3,474)
Basic and diluted net loss per common share | $ / shares $ (0.38) $ (0.25) $ (0.73) $ (0.98)
Weighted average shares used in computing basic and diluted net loss per common share | shares 13,576 3,534 13,397 3,534
License revenue        
Revenues:        
Total revenues $ 0 $ 2,593 $ 313 $ 3,657
Product revenue        
Revenues:        
Total revenues 304 75 621 75
Grant revenue        
Revenues:        
Total revenues $ 198 $ 0 $ 513 $ 0

Source

v3.19.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (9,714) $ (3,474)
Adjustments to reconcile loss to net cash used in operating activities:    
Depreciation and amortization 123 224
Non-cash interest expense 335 208
Stock-based compensation 486 834
Other 8 0
Changes in operating assets and liabilities:    
Receivables 597 (124)
Inventory (55) (1,317)
Contract assets 99 (72)
Prepaid expenses and other assets (197) (59)
Accounts payable (501) (246)
Accrued sales allowances 830 0
Other accrued liabilities (155) 232
Deferred revenue (313) 939
Net cash used in operating activities (8,457) (2,855)
Cash flows from investing activities:    
Purchases of property and equipment (83) (53)
Net cash used in investing activities (83) (53)
Cash flows from financing activities:    
Net proceeds from the exercises of common stock warrants 710 0
Net proceeds from the issuance of common stock in an at-the-market offering 466 0
Payments of long-term debt 0 (3,000)
Net cash provided by (used in) financing activities 1,176 (3,000)
Net decrease in cash and cash equivalents (7,364) (5,908)
Cash, cash equivalents and restricted cash at beginning of period 9,656 7,883
Cash, cash equivalents and restricted cash at end of period 2,292 1,975
Supplemental disclosure of cash flow information:    
Interest paid 219 234
Warrants issued 0 470
Non-cash conversion of Molteni Convertible Loan 650 0
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

Source