Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flow

v3.19.3
Condensed Statements of Cash Flow - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net loss $ (30,180) $ (18,892)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of debt discount 466 0
Issuance of common shares - Equity fee on At-the-Market Offering to Fortress Biotech 495 0
Issuance of common shares - Equity fee on Public Offering to Fortress Biotech 791 0
Issuance of common shares - Equity fee on Horizon Notes to Fortress Biotech 375 0
Research and development - licenses acquired 1,350 1,075
Stock-based compensation expenses 2,174 3,869
Depreciation expense 907 320
Amortization of operating lease right-of-use assets 80 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (440) (737)
Interest receivables 0 (1)
Other receivables - related party (55) (50)
Accounts payable and accrued expenses (203) 1,137
Payable and accrued expenses - related party 48 138
Deferred rent 0 420
Lease liabilities 101 0
Net cash used in operating activities (24,091) (12,721)
Cash Flows from Investing Activities:    
Purchase of short-term investment (certificates of deposit) 0 (47,500)
Maturity of certificate of deposit 17,604 51,002
Purchase of research and development licenses (850) (1,075)
Purchase of fixed assets (1,454) (6,566)
Net cash provided by (used in) investing activities 15,300 (4,139)
Cash Flows from Financing Activities:    
Proceeds From Horizon Notes 15,000 0
Debt issuance costs (1,393) 0
Proceeds from exercise of warrants 0 181
Proceeds from issuance of common shares - At-the-Market Offering 22,515 0
Offering costs for the issuance of common shares - At-the-Market Offering (543) 0
Proceeds from issuance of common shares - Public Offering 31,625 0
Offering costs for the issuance of common shares - Public Offering (2,088) 0
Net cash provided by financing activities 65,116 181
Net change in cash, cash equivalents and restricted cash 56,325 (16,679)
Cash, cash equivalents and restricted cash, beginning of the period 16,969 35,475
Cash, cash equivalents and restricted cash, end of the period 73,294 18,796
Supplemental disclosure of cash flow information:    
Cash paid for interest 698 0
Supplemental disclosure of noncash investing and financing activities:    
Unpaid fixed assets 288 125
Issuance of common shares - Founders Agreement 2,085 9,558
Research and development licenses included in accounts payable and accrued expenses 500 0
Issuance of warrants - Horizon Notes $ 888 $ 0