LEASES

3 Months Ended

Mar. 31, 2019

Leases of Lessee Disclosure [Text Block]

NOTE 6 – LEASES

On January 1, 2019 the Company adopted ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”) using the modified retrospective approach for all lease arrangements at the beginning of the period of adoption. Leases existing for the reporting period beginning January 1, 2019 are presented under ASU 2016-02. The Company leases facilities, clinical research rooms, and vehicles under operating leases. At March 31, 2019, the Company’s ROU assets and lease liabilities for operating leases totaled $

2,951

and $

3,045

, respectively. The impact of adopting the new lease standard was not material to the Company’s condensed consolidated statement of operations for the periods presented.

Supplemental cash flow information related to operating leases was as follows (unaudited):

	Three Months Ended March 31, 2019
Cash payments for operating leases	$	317
New operating lease assets obtained in exchange for operating lease liabilities	$	3,197

As of March 31, 2019, our operating leases had a weighted average remaining lease term of

2.7

years and a weighted average discount rate of

8.25

%. Future lease payments under operating leases as of March 31, 2019 were as follows (unaudited):

	Operating Leases
Remainder of 2019	$	953
2020		1,254
2021		1,186
Total future lease payments		3,393
Less imputed interest		(348	)
Total lease liability balance	$	3,045