Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:    
Net loss $ (30,662) $ (31,288)
Research and development - licenses acquired 1,275 2,875
Issuance of common shares - Founders Agreement 0 1,234
Common shares issuable for Founders Agreement 2,085 9,558
Stock-based compensation expenses 4,960 2,012
Depreciation expense 630 2
Capital contribution from Fortress 0 2,062
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (757) (278)
Interest receivables (35) (106)
Accounts payable and accrued expenses 2,470 1,332
Payable and accrued expenses - related party 99 12
Accrued interest - related party 0 (413)
Deferred rent 691 50
Net cash used in operating activities (19,244) (12,948)
Cash Flows from Investing Activities:    
Purchase of short-term investment (certificates of deposit) (52,500) (46,002)
Maturity of certificate of deposit 61,002 20,000
Purchase of research and development licenses (1,075) (2,375)
Purchase of fixed assets (6,870) (424)
Security deposits paid 0 (251)
Net cash used in investing activities 557 (29,052)
Cash Flows from Financing Activities:    
Payment of Fortress Note 0 (320)
Proceeds from issuance of common stock and warrants, net of offering cost of $0 and $5,674, respectively 0 50,296
Proceeds from exercise of warrants 181 0
Net cash provided by financing activities 181 49,976
Net change in cash, cash equivalents and restricted cash (18,506) 7,976
Cash, cash equivalents and restricted cash, beginning of the period 35,475 27,499
Cash, cash equivalents and restricted cash, end of the period 16,969 35,475
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 413
Supplemental disclosure of noncash investing and financing activities:    
Fixed assets (acquired but not paid) 196 959
Issuance of common shares - Founders Agreement 9,558 4,396
Research and development licenses included in accounts payable and accrued liabilities 200 500
Common shares issuable for license acquired $ 0 $ 1,682