Financials

v3.20.1
BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 5,223 $ 9,295
Restricted cash 0 361
Receivables 993 1,737
Inventory 998 1,262
Contract assets 0 99
Prepaid expenses and other current assets 1,094 547
Total current assets 8,308 13,301
Property and equipment, net 817 794
Operating lease right-of-use asset 397 0
Total assets 9,522 14,095
Current liabilities:    
Accounts payable 1,401 1,526
Accrued clinical trials expenses 309 620
Accrued sales allowances 809 0
Other accrued liabilities 809 466
Operating lease liability, current 272 0
Deferred revenue 0 313
Current portion of long-term debt, net of debt discount of $0 and $123 0 527
Total current liabilities 3,600 3,452
Long-term debt, net of debt discount of $346 and $543 4,019 3,787
Warrant liability 320 0
Derivative liability 0 25
Operating lease liability, non-current 150 0
Total liabilities 8,089 7,264
Commitments and contingencies (Note 5)
Stockholders' (deficit) equity:    
Preferred stock, $0.001 par value per share; 5,000,000 shares authorized, none issued and outstanding at December 31, 2019 and 2018. 0 0
Common stock, at amounts paid-in, $0.001 par value per share; 125,000,000 shares authorized 57,378,794 and 13,010,292 shares issued and outstanding at December 31, 2019 and 2018, respectively. 57 13
Additional paid-in capital 350,413 339,397
Accumulated deficit (349,037) (332,579)
Total stockholders' equity 1,433 6,831
Total liabilities and stockholders' equity $ 9,522 $ 14,095

Source

v3.20.1
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
shares in Thousands, $ in Thousands, € in Millions
12 Months Ended
Dec. 31, 2019
USD ($)
$ / shares
shares
Dec. 31, 2018
USD ($)
$ / shares
shares
Revenues:    
Total revenues $ 3,611 $ 6,618
Operating expenses:    
Cost of goods sold 1,288 538
Research and development 7,242 7,478
Selling, general and administrative 11,925 6,866
Total operating expenses 20,455 14,882
Loss from operations (16,844) (8,264)
Other income (expense):    
Interest income (expense), net (967) (887)
Other expense, net 17 128
Non-cash gain on changes in the fair value of warrants 1,110 0
Non-cash gain on debt extinguishment 226 0
Other income (expense), net 386 (759)
Net loss and comprehensive loss (16,458) (9,023)
Deemed dividend on trigger of down round provision 0 (285)
Net loss applicable to common stockholders $ (16,458) $ (9,308)
Basic net loss per share | $ / shares $ (0.72) $ (1.64)
Diluted net loss per share | $ / shares $ (0.72) $ (1.66)
Weighted average shares used in computing basic net loss per common share | shares 22,957 5,688
Weighted average shares used in computing diluted net loss per common share | shares 22,957 5,688
License revenue    
Revenues:    
Total revenues $ 315 $ 5,376
Product revenue    
Revenues:    
Total revenues 1,006 535
Grant revenue    
Revenues:    
Total revenues $ 2,290 $ 707

Source

v3.20.1
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (16,458) $ (9,023)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash gain on inventory received from termination of license agreement 0 (1,293)
Depreciation and amortization 244 380
Non-cash interest expense 613 490
Non-cash gain on changes in the fair value of warrants (1,110) 0
Non-cash gain on debt extinguishment (226) 0
Stock-based compensation 572 1,557
Other (41) (134)
Changes in operating assets and liabilities:    
Receivables 744 (1,672)
Inventory 264 31
Contract assets 99 120
Prepaid expenses and other assets (547) (185)
Accounts payable (125) 542
Accrued sales allowances 809 0
Other accrued liabilities 30 443
Deferred revenue (313) 313
Net cash used in operating activities (15,445) (8,431)
Cash flows from investing activities:    
Purchases of furniture and equipment (256) (416)
Net cash used in investing activities (256) (416)
Cash flows from financing activities:    
Proceeds from equity offerings 9,665 9,651
Issuance of warrants 0 51
Proceeds from the exercise of warrants 1,603 3,268
Proceeds from the issuance of debt 0 650
Payments of long-term debt 0 (3,000)
Net cash provided by financing activities 11,268 10,620
Net increase (decrease) in cash (4,433) 1,773
Cash, cash equivalents and restricted cash at beginning of period 9,656 7,883
Cash, cash equivalents and restricted cash at end of period 5,223 9,656
Supplemental disclosure of cash flow information    
Interest paid 432 471
Warrants issued 0 6,348
Derivatives issued 0 159
Deemed dividend on trigger of down round provision 0 285
Purchases of property and equipment in accounts payable or accrued expenses 11 163
Schedule of non-cash transactions    
Cash and cash equivalents 5,223 9,295
Restricted cash 0 361
Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 5,223 $ 9,656

Source