Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (15,687) $ (3,906)
Research and development-licenses acquired, expensed 2,375 0
Issuance of common shares - Founders Agreement 1,234 274
Amortization of debt discount 0 90
Change in fair value of derivative liabilities 0 (2)
Stock-based compensation expenses 1,230 0
Capital contribution from Fortress 2,062 0
Changes in operating assets and liabilities:    
Prepaid expenses (414) 0
Interest receivables (35) 0
Accounts payable and accrued expenses 1,923 1,025
Payable and accrued expenses - related party (56) 375
Accrued interest - related party (413) 278
Net cash used in operating activities (7,781) (1,866)
Cash Flows from Investing Activities:    
Purchase of short-term investment (certificates of deposit) (34,088) 0
Purchase of research and development licenses (2,375) 0
Purchase of fixed assets - construction-in-process (22) 0
Net cash used in investing activities (36,485) 0
Cash Flows from Financing Activities:    
Proceeds from Fortress Note 0 1,963
Payment of Fortress Note (320) (3,533)
Proceeds from NSC Note 0 3,600
Payment of debt issue costs associated with NSC Note 0 (129)
Proceeds from issuance of common stock and warrants, net of offering cost of $5,674 and $0, respectively 50,296 11,083
Net cash provided by financing activities 49,976 12,984
Net change in cash and cash equivalents 5,710 11,118
Cash and cash equivalents, beginning of the period 27,499 0
Cash and cash equivalents, end of the period 33,209 11,118
Supplemental disclosure of cash flow information:    
Cash paid for interest 413 0
Supplemental disclosure of noncash investing and financing activities:    
Construction-in-progress included in accounts payable and accrued expenses 117 0
Issuance of common shares - Founders Agreement 4,396 190
Warrant liability associated with NSC Note 0 634
Common shares issuable for license acquired $ 1,682 $ 0