Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (13,205) $ (11,876)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 199 68
Stock-based compensation 1,537 1,140
License rights expense settled in stock 490 0
Gain from sale of fixed assets (1) 0
Gain from change in fair value of warrant liability (4,062) (3,185)
Operating lease, net of sublease receipts (14)  
Loss on foreign currency transactions 0 40
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,909) (252)
Accounts payable 907 436
Accrued expenses and other current liabilities (1,140) 1,400
Other long-term liabilities 0 26
Net cash used in operating activities (17,198) (12,203)
Cash flows from investing activities:    
Purchase of fixed assets (52) (417)
Proceeds from sale of fixed assets 1 0
Net cash used in investing activities (51) (417)
Cash flows from financing activities:    
Proceeds from exercise of stock options 5 5
Proceeds from exercise of warrants 1,557 15
Proceeds from sale of common stock, net of issuance costs 19,292 12,025
Net cash provided by financing activities 20,854 12,045
Effect of exchange rate changes on cash and cash equivalents (4) (5)
Net change in cash and cash equivalents 3,601 (580)
Cash and cash equivalents, at beginning of year 7,134 7,714
Cash and cash equivalents, at end of year 10,735 7,134
Supplemental disclosures of cash flow information:    
Cash paid for interest 1 5
Cash paid for taxes 19 21
Non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable and accrued liabilities 22 23
Leasehold improvements paid by landlord 0 82
Research and development costs settled in stock $ 490 $ 0