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
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (8,747) $ (2,036)
Research and development-licenses acquired, expensed 2,075 0
Issuance of common shares - Founders Agreement 1,232 0
Stock-based compensation expenses 397 0
Changes in operating assets and liabilities:    
Prepaid expenses (8) 0
Accounts payable and accrued expenses 2,295 311
Accrued expenses - related party 13 250
Accrued interest - related party (413) 174
Notes payable - related party 146 0
Net cash used in operating activities (3,010) (1,301)
Cash Flows from Investing Activities:    
Purchase of short-term investment (certificates of deposit) (20,038) 0
Purchase of research and development licenses (575) 0
Net cash used in investing activities (20,613) 0
Cash Flows from Financing Activities:    
Payment of Fortress Note (320) 0
Proceeds from Fortress Note   1,301
Proceeds from issuance of common stock and warrants, net of offering cost of $5,671 and $0, respectively 50,234 0
Net cash provided by financing activities 49,914 1,301
Net increase in cash and cash equivalents 26,291 0
Cash and cash equivalents, end of the period 53,790 0
Supplemental disclosure of cash flow information:    
Cash paid for interest 413 0
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement 4,396 190
Common shares issuable for license acquired $ 1,682 $ 0