Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.20.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net loss $ (11,857) $ (9,613)
Issuance of common shares - Equity fee on At-the-Market Offering to Fortress Biotech 125 0
Issuance of common shares - Equity fee on Horizon Notes to Fortress Biotech 0 375
Research and development - licenses acquired 250 450
Stock-based compensation expenses 805 432
Depreciation expense 373 288
Accretion of debt discount 259 0
Amortization of operating lease right-of-use assets 31 30
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (246) 265
Other receivables - related party 5 (111)
Accounts payable and accrued expenses (163) 1,031
Payable and accrued expenses - related party (50) 382
Lease liabilities 316 (12)
Net cash used in operating activities (10,152) (6,483)
Cash Flows from Investing Activities:    
Maturity of certificate of deposit 0 12,500
Purchase of research and development licenses 0 (200)
Purchase of fixed assets (526) (299)
Net cash provided by investing activities (526) 12,001
Cash Flows from Financing Activities:    
Proceeds from Horizon Notes 0 13,613
Proceeds from exercise of warrants 0 0
Proceeds from issuance of common shares - At-the-Market Offering 4,997 0
Offering costs for the issuance of common shares - At-the-Market Offering (87) 0
Proceeds from issuance of common shares under ESPP 169 0
Net cash provided by financing activities 5,079 13,613
Net change in cash, cash equivalents and restricted cash (5,599) 19,131
Cash, cash equivalents and restricted cash, beginning of the period 62,413 16,969
Cash, cash equivalents and restricted cash, end of the period 56,814 36,100
Supplemental disclosure of cash flow information:    
Cash paid for interest 341 0
Supplemental disclosure of noncash investing and financing activities:    
Fixed assets (acquired but not paid) 540 191
Issuance of common shares - Founders Agreement 4,923 2,085
Research and development licenses included in accounts payable and accrued expenses 250 250
Issuance of warrants - Horizon Notes $ 0 $ 888