Financials

v3.20.2
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 4,073 $ 5,223
Receivables 423 993
Inventory 1,073 998
Prepaid expenses and other current assets 1,080 1,094
Total current assets 6,649 8,308
Property and equipment, net 1,161 817
Operating lease right-of-use asset 208 397
Total assets 8,018 9,522
Current liabilities:    
Accounts payable 1,750 1,401
Accrued clinical trials expenses 829 309
Accrued sales allowances 119 809
Other accrued liabilities 875 809
Operating lease liability, current 222 272
Current portion of long-term debt 2,082 0
Total current liabilities 5,877 3,600
Operating lease liability, non-current 0 150
Long-term debt 3,038 4,019
Warrant liability 0 320
Total liabilities 8,915 8,089
Stockholders' equity (deficit):    
Common stock, at amounts paid-in 117 57
Additional paid-in capital 363,180 350,413
Accumulated deficit (364,194) (349,037)
Total stockholders' equity (deficit) (897) 1,433
Total liabilities and stockholders' equity (deficit) $ 8,018 $ 9,522

Source

v3.20.2
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Total revenues $ 1,120 $ 947 $ 3,781 $ 2,394
Operating expenses:        
Cost of goods sold 683 188 1,081 738
Research and development 1,562 1,619 5,846 5,370
Selling, general and administrative 3,549 3,023 10,137 9,336
Total operating expenses 5,794 4,830 17,064 15,444
Loss from operations (4,674) (3,883) (13,283) (13,050)
Other expense:        
Interest expense, net (246) (238) (718) (737)
Non-cash gain (loss) on changes in the fair value of warrants 0 1,041 (923) 1,066
Gain on debt extinguishment 0 291 0 226
Other income (expense), net (12) (14) (233) (22)
Other income (expense), net (258) 1,080 (1,874) 533
Net loss and comprehensive loss $ (4,932) $ (2,803) $ (15,157) $ (12,517)
Basic and diluted net loss per common share $ (0.05) $ (0.18) $ (0.17) $ (0.89)
Weighted average shares used in computing basic and diluted net loss per common share 97,906 15,517 91,848 14,112
License revenue        
Revenues:        
Total revenues $ 0 $ 0 $ 6 $ 313
Product revenue        
Revenues:        
Total revenues 102 190 427 811
Grant revenue        
Revenues:        
Total revenues $ 1,018 $ 757 $ 3,348 $ 1,270

Source

v3.20.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (15,157) $ (12,517)
Adjustments to reconcile loss to net cash used in operating activities:    
Depreciation and amortization 227 186
Non-cash interest expense 447 467
Non-cash (gain) loss on changes in fair value of warrants 923 (1,066)
Non-cash loss on asset impairment 433 0
Stock-based compensation 4 614
Finance costs attributable to issuance of warrants 211 0
Gain on debt extinguishment 0 (226)
Other (11) (36)
Changes in operating assets and liabilities:    
Receivables 570 962
Inventory (508) 0
Prepaid expenses and other assets 14 (492)
Accounts payable 309 (111)
Accrued sales allowances (690) 750
Other accrued liabilities 586 0
Deferred revenue 0 (313)
Net cash used in operating activities (12,642) (11,782)
Cash flows from investing activities:    
Purchases of property and equipment (531) (144)
Net cash used in investing activities (531) (144)
Cash flows from financing activities:    
Net proceeds from equity offering 4,339 2,467
Net proceeds from the exercises of common stock warrants 7,030 724
Net loan proceeds 654 0
Net cash provided by financing activities 12,023 3,191
Net decrease in cash and cash equivalents (1,150) (8,735)
Cash, cash equivalents and restricted cash at beginning of period 5,223 9,656
Cash, cash equivalents and restricted cash at end of period 4,073 921
Supplemental disclosure of cash flow information:    
Interest paid 295 328
Non-cash conversion of Molteni Convertible Loan $ 0 $ 650

Source