Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.19.2
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities:    
Net loss $ (20,012) $ (11,374)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of debt discount 232  
Issuance of common shares - Equity fee on At-the-Market Offering to Fortress Biotech 495  
Issuance of common shares - Equity fee on Public Offering to Fortress Biotech 791  
Issuance of common shares - Equity fee on Horizon Notes to Fortress Biotech 375 0
Research and development - licenses acquired 650 75
Stock-based compensation expenses 1,054 2,966
Depreciation expense 588 122
Amortization of operating lease right-of-use assets 65 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 413 (957)
Interest receivables   (303)
Other receivables- related party (128) 0
Accounts payable and accrued expenses (279) 155
Payable and accrued expenses - related party 523 50
Deferred rent 0 345
Lease liabilities (28) 0
Net cash used in operating activities (15,261) (8,921)
Cash Flows from Investing Activities:    
Purchase of short-term investment (certificates of deposit) 0 (35,000)
Maturity of certificate of deposit 17,604 26,002
Purchase of research and development licenses (450) (75)
Purchase of fixed assets (955) (5,418)
Net cash provided by (used in) investing activities 16,199 (14,491)
Cash Flows from Financing Activities:    
Proceeds from Horizon Notes 15,000 0
Debt issuance costs (1,230)  
Proceeds from exercise of warrants 0 181
Proceeds from issuance of common shares - At-the-Market Offering 22,515  
Offering costs for the issuance of common shares - At-the-Market Offering (543)  
Proceeds from issuance of common shares - Public Offering 31,625  
Offering costs for the issuance of common shares - Public Offering (2,140)  
Net cash provided by financing activities 65,227 181
Net change in cash, cash equivalents and restricted cash 66,165 (23,231)
Cash, cash equivalents and restricted cash, beginning of the period 16,969 35,475
Cash, cash equivalents and restricted cash, end of the period 83,134 12,244
Supplemental disclosure of cash flow information:    
Cash paid for interest 341 0
Supplemental disclosure of noncash investing and financing activities:    
Fixed assets (acquired but not paid) 183 818
Unpaid debt issuance costs 163  
Issuance of common shares - Founders Agreement 2,085 9,558
Research and development licenses included in accounts payable and accrued expenses 200 0
Issuance of warrants - Horizon Note $ 888 $ 0