Financials

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 30,665	$ 11,249
Prepaid expenses and other	2,731	2,699
Total current assets	33,396	13,948
Property and equipment, net	28	34
Right-of-use assets, net	281	356
Security deposit	7
Restricted cash	100	100
Intangible asset	120	120
Total assets	33,932	14,558
Current liabilities:
Accounts payable	1,408	3,070
Accrued expenses and other current liabilities	996	1,713
Lease liability, current	256	352
Total current liabilities	2,660	5,135
Lease liability net of current	25	6
Total liabilities	2,685	5,141
Commitments (See Note 11)
Stockholders' equity:
Preferred stock, 5,000,000 shares authorized Series B Convertible Preferred stock, $0.001 par value; 5,313 shares designated; 0 issued and outstanding as of March 31, 2020, Series A Convertible Preferred stock, $0.001 par value; 7,938 shares designated; 0 issued and outstanding as of December 31, 2019
Common stock, $0.001 par value; 150,000,000 shares authorized; 49,353,134 and 8,531,504 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively, and 1,578 shares to be issued as of December 31, 2019	49	9
Additional paid in capital	255,601	226,524
Accumulated deficit	(224,343)	(217,070)
Accumulated other comprehensive loss	(60)	(46)
Total stockholders' equity	31,247	9,417
Total liabilities and stockholders' equity	$ 33,932	$ 14,558

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
COSTS AND EXPENSES:
Research and development	$ 4,676	$ 3,896
General and administrative	2,621	2,401
Total costs and expenses	7,297	6,297
Operating Loss	(7,297)	(6,297)
Interest income, net	24	64
Net loss	(7,273)	(6,233)
Warrant deemed dividend	451
Preferred stock deemed dividend	1,260
Net loss available to common stockholders	$ (8,984)	$ (6,233)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.37)	$ (12.76)
Weighted average common shares outstanding, basic and diluted (in shares)	24,028,970	488,315

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (7,273)	$ (6,233)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	6	9
Stock-based compensation	360	305
Changes in operating assets and liabilities:
Prepaid expenses and other	(39)	(1,700)
Accounts payable	(1,662)	(270)
Lease liabilities and ROU asset, net	(2)
Accrued expenses and other current liabilities	(716)	(753)
Net cash used in operating activities	(9,326)	(8,642)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of furniture and fixtures		(7)
Net cash used by investing activities		(7)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the exercise of warrants	7,474	70
Proceeds, net of expenses of $711 and $0, from the sale of preferred stock	4,602
Proceeds, net of expenses of $1,513 and $0, from sale of common stock and warrants	16,681	3
Net cash provided by financing activities	28,757	73
Effect of currency rate change on cash	(15)	(10)
Net decrease in cash, cash equivalents and restricted cash	19,416	(8,586)
Cash, cash equivalents and restricted cash beginning of the period	11,349	25,134
Cash, cash equivalents and restricted cash end of period	30,765	$ 16,548
Non-cash financing activities:
Series B Convertible preferred stock deemed dividend	1,260
Warrants deemed dividend	$ 451

Financial Info : Financials