v3.21.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 65,246 $ 15,485
Marketable securities 20,904 27,005
Prepaid expenses and other current assets 5,089 4,165
Total current assets 91,239 46,655
Long-term marketable securities 1,030  
Property and equipment, net 874 910
Operating lease right-of-use assets 2,747 2,811
Other assets 740 740
Total assets 96,630 51,116
Current liabilities:    
Accounts payable 3,872 1,806
Accrued liabilities 3,420 3,610
Current portion of lease liabilities 648 644
Total current liabilities 7,940 6,060
Warrant liabilities 23,837 29,404
Long-term portion of lease liabilities 2,875 2,959
Other liabilities 73 73
Total liabilities 34,725 38,496
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at March 31, 2021 and December 31, 2020
Common stock, $0.0001 par value, 125,000,000 shares authorized, 39,332,721 shares and 27,810,161 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively 4 3
Additional paid-in capital 307,395 252,908
Accumulated other comprehensive loss (29) (21)
Accumulated deficit (245,465) (240,270)
Total stockholders' equity 61,905 12,620
Total liabilities and stockholders' equity $ 96,630 $ 51,116

Source

v3.21.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating expenses:    
Research and development $ 8,021 $ 5,104
General and administrative 2,765 2,960
Total operating expenses 10,786 8,064
Loss from operations (10,786) (8,064)
Other income:    
Interest income 24 70
Change in fair value of warrant liabilities 5,567 416
Total other income 5,591 486
Net loss $ (5,195) $ (7,578)
Per share information:    
Net loss per share of common stock, basic and diluted $ (0.18) $ (0.49)
Basic and diluted weighted average shares outstanding 28,963,594 15,332,042

Source

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (5,195) $ (7,578)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 31 42
Share-based compensation expense 581 633
Change in fair value of warrant liabilities (5,567) (416)
Net amortization of premium (discount) on marketable securities 150 (7)
Changes in operating assets and liabilities:    
(Increase) decrease in prepaid expenses and other current and non-current assets (936) 934
Increase (decrease) in accounts payable, accrued liabilities and other liabilities 1,877 (1,157)
Net cash used in operating activities (9,059) (7,549)
Cash flows from investing activities    
Purchases of marketable securities   (9,999)
Proceeds from sales of marketable securities 4,913 3,996
Net cash provided by (used in) investing activities 4,913 (6,003)
Cash flows from financing activities    
Proceeds from issuance of securities 57,500  
Payment of financing costs of securities sold (3,703)  
Proceeds from the exercise of warrants 110  
Net cash provided by financing activities 53,907 0
Net increase (decrease) in cash and cash equivalents 49,761 (13,552)
Cash and cash equivalents at beginning of period 15,485 24,184
Cash and cash equivalents at end of period $ 65,246 $ 10,632

Source