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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (20,804) $ (24,904)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 26 37
Amortization of contract asset 101  
Amortization on right-of-use asset 406 541
Stock-based compensation expense 1,857 2,796
Foreign currency (gain) loss (189) 114
Change in fair value of restricted stock liability (94) 159
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 727 280
Research and development incentive receivable (20) (128)
Contract acquisition costs (270)  
Accounts payable and accrued expenses (3,206) 717
Deferred revenue 1,875  
Lease liability (378) (506)
Net cash used in operating activities (19,969) (21,008)
Cash flows from investing activities:    
Proceeds from the sale of property and equipment 25  
Purchases of property and equipment   (100)
Net cash provided by (used) in investing activities 25 (100)
Cash flows from financing activities:    
Proceeds from issuance of common stock - June 2020 Public Offering 48,518  
Proceeds from issuance of common stock   12,331
Proceeds from issuance of common stock from ATM sales   1,923
Proceeds from issuance of common stock in connection with July 2019 Lincoln Park Capital Registered Offering Purchase Agreement, net of issuance costs   999
Proceeds from the exercise of common stock warrants 348  
Proceeds from the exercise of stock options 51  
Payment of deferred offering costs (1,906) (417)
Net cash provided by financing activities 73,997 14,836
Effect of exchange rate changes on cash and cash equivalents 31 46
Net increase (decrease) in cash and cash equivalents 54,084 (6,226)
Cash and cash equivalents at beginning of period 3,891 16,284
Cash and cash equivalents at end of period 57,975 10,058
Supplemental disclosure of non-cash financing activities:    
Reclassification of 2017 Warrants from liability to equity   3,448
Dividend attributable to down round feature of warrants 303 359
Offering costs included in accounts payable and accrued expenses - February 2019 Public Offering   20
Right-of-use asset recorded upon adoption of ASU 2016-02   1,720
Lease liability recorded upon adoption of ASU 2016-02   1,720
Prepaid rent reclassified upon adoption of ASU 2016-02   $ 35
Conversion of Series A convertible preferred stock to prefunded warrants (8,836)  
Conversion of Series B convertible preferred stock to common stock (7,087)  
Series A & B Convertible Preferred Stock discount - beneficial conversion feature (9,399)  
Series A Convertible Preferred Stock    
Cash flows from financing activities:    
Proceeds from the issuance of Series convertible preferred stock 14,986  
Supplemental disclosure of non-cash financing activities:    
Conversion of Series A convertible preferred stock to prefunded warrants 8,836  
Series A & B Convertible Preferred Stock discount - beneficial conversion feature 5,226  
Series B Convertible Preferred Stock    
Cash flows from financing activities:    
Proceeds from the issuance of Series convertible preferred stock 12,000  
Supplemental disclosure of non-cash financing activities:    
Conversion of Series B convertible preferred stock to common stock 7,087  
Series A & B Convertible Preferred Stock discount - beneficial conversion feature $ 4,173