Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.19.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities:    
Net loss $ (9,613) $ (6,281)
Issuance of common shares - Equity fee on Horizon Notes to Fortress Biotech 375 0
Research and development - licenses acquired 450 75
Stock-based compensation expenses 432 1,995
Depreciation expense 288 7
Amortization of operating lease right-of-use assets 30 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 265 (828)
Other receivables - related party (111) 0
Accounts payable and accrued expenses 1,031 (787)
Payable and accrued expenses - related party 382 179
Deferred rent 0 75
Lease liabilities (12) 0
Net cash used in operating activities (6,483) (5,565)
Cash Flows from Investing Activities:    
Purchase of short-term investment (certificates of deposit) 0 (25,000)
Maturity of certificate of deposit 12,500 14,000
Purchase of research and development licenses (200) (75)
Purchase of fixed assets (299) (676)
Net cash used in investing activities 12,001 (11,751)
Cash Flows from Financing Activities:    
Proceeds from Horizon Note, net of debt discount 13,613 0
Proceeds from exercise of warrants 0 96
Net cash provided by financing activities 13,613 96
Net change in cash, cash equivalents and restricted cash 19,131 (17,220)
Cash, cash equivalents and restricted cash, beginning of the period 16,969 35,475
Cash, cash equivalents and restricted cash, end of the period 36,100 18,255
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 0
Supplemental disclosure of noncash investing and financing activities:    
Fixed assets (acquired but not paid) 191 2,320
Issuance of common shares - Founders Agreement 2,085 9,558
Research and development licenses included in accounts payable and accrued expenses 250 0
Issuance of warrants - Horizon Note $ 888 $ 0