XML 16 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (22,406,000) $ (25,537,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 237,000 181,000
Debt related charges included in interest expense 113,000  
Net amortization of premiums and discounts on marketable securities   (44,000)
Stock-based compensation 661,000 309,000
Change in fair value of derivative liability (65,000)  
Changes in operating assets and liabilities:    
Accounts receivable 455,000 (449,000)
Prepaid expenses and other current assets (366,000) 418,000
Accounts payable (202,000) 21,000
Accrued expenses (692,000) 189,000
Net cash used in operating activities (22,265,000) (24,912,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities   14,150,000
Purchase of property and equipment (291,000) (77,000)
Net cash (used in) provided by investing activities (291,000) 14,073,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from private offering of common stock 11,475,000 13,800,000
Proceeds from issuance of common stock 17,000,000  
Proceeds from issuance of convertible debt, net of discount 8,000,000  
Redemption of convertible debt (108,000)  
Payments of convertible debt issuance costs (50,000)  
Proceeds from long-term debt 1,134,000  
Payments of common stock issuance costs (598,000)  
Proceeds from exercise of stock options 19,000  
Net cash provided by financing activities 36,872,000 13,800,000
NET INCREASE IN CASH AND CASH EQUIVALENTS 14,316,000 2,961,000
CASH AND CASH EQUIVALENTS–Beginning of period 2,776,000 5,618,000
CASH AND CASH EQUIVALENTS–End of period 17,092,000 $ 8,579,000
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Purchase of property and equipment in accounts payable (161,000)  
Offering costs in accounts payable 100,000  
Offering costs in accrued expenses $ 15,000