Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.20.2
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net loss $ (26,455) $ (20,012)
Accretion of debt discount 529 232
Issuance of common shares - Equity fee on At-the-Market Offering to Fortress Biotech 202 495
Issuance of common shares - Equity fee on Public Offering to Fortress Biotech 932 791
Issuance of common shares - Equity fee on Horizon Notes to Fortress Biotech 0 375
Research and development - licenses acquired 1,550 650
Stock-based compensation expenses 1,762 1,054
Depreciation expense 798 588
Amortization of operating lease right-of-use assets 56 65
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,606 413
Other receivables - related party (867) (128)
Accounts payable and accrued expenses 2,017 (279)
Payable and accrued expenses - related party (105) 523
Lease liabilities 255 (28)
Net cash used in operating activities (17,720) (15,261)
Cash Flows from Investing Activities:    
Maturity of certificate of deposit 0 17,604
Purchase of research and development licenses (250) (450)
Purchase of fixed assets (1,090) (955)
Net cash provided by investing activities (1,340) 16,199
Cash Flows from Financing Activities:    
Proceeds from Horizon Notes 0 15,000
Proceeds from issuance of common shares - At-the-Market Offering 8,023 22,515
Offering costs for the issuance of common shares - At-the-Market Offering (180) (543)
Proceeds from issuance of common shares under ESPP 169 0
Debt issuance costs 0 (1,230)
Proceeds from issuance of common shares 37,230 31,625
Offering costs for the issuance of common shares - Public Offering (2,234) (2,140)
Net cash provided by financing activities 43,008 65,227
Net change in cash, cash equivalents and restricted cash 23,948 66,165
Cash, cash equivalents and restricted cash, beginning of the period 62,413 16,969
Cash, cash equivalents and restricted cash, end of the period 86,361 83,134
Supplemental disclosure of cash flow information:    
Cash paid for interest 683 341
Supplemental disclosure of noncash investing and financing activities:    
Fixed assets (acquired but not paid) 127 183
Issuance of common shares - Founders Agreement 4,923 2,085
Research and development licenses included in accounts payable and accrued expenses 1,300 200
Offering costs for the issuance of common shares - Public Offering, in accounts payable and accrued expenses 72 0
Issuance of warrants - Horizon Notes $ 0 $ 888