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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net loss $ (15,387,000) $ (15,974,000)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation expense 17,000 19,000
Amortization expense - right-of-use leased assets - operating 177,000 159,000
Accretion of discount on investments (1,000)  
Stock-based compensation 1,129,000 681,000
Non-cash interest expense 246,000 173,000
Fair value adjustment to derivative liability 30,000  
Changes in operating assets and liabilities    
Prepaid expenses and other assets (259,000) 107,000
Accounts payable, accrued expenses and other liabilities 343,000 4,806,000
Net cash used in operating activities (13,705,000) (10,029,000)
Cash flows from investing activities    
Purchases of short term investments (40,469,000)  
Net cash used in investing activities (40,469,000)  
Cash flows from financing activities    
Proceeds from common stock offering, net 50,191,000  
Proceeds from at-the-market offering, net 10,388,000  
Proceeds from the exercise of vested stock options 715,000 18,000
Payment of term loan exit fee (800,000)  
Settlements of restricted stock units for tax withholding obligations (84,000)  
Net cash provided by financing activities 60,410,000 18,000
Net (decrease) increase in cash, cash equivalents and restricted cash 6,236,000 (10,011,000)
Cash, cash equivalents and restricted cash at beginning of period 72,806,000 89,660,000
Cash, cash equivalents and restricted cash at end of period 79,042,000 79,649,000
Supplemental cash flow information    
Interest paid 1,436,000 608,000
Taxes paid $ 144,000 $ 256,000