Financials

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 77,068	$ 11,249
Prepaid expenses and other	10,921	2,699
Total current assets	87,989	13,948
Property and equipment, net	8,571	34
Operating lease right-to-use assets	1,258	356
Security deposit	5
Restricted cash	240	100
Intangible Asset	120	120
Total assets	98,183	14,558
Current liabilities:
Accounts payable	4,598	3,070
Accrued expenses and other current liabilities	4,626	1,713
Lease liability, short term	595	352
Total current liabilities	9,819	5,135
Lease liability, long term	716	6
Total liabilities	10,535	5,141
Commitments (See Note 15)
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized Series B Convertible Preferred stock, 5,313 and 0 shares designated as of December 31, 2020 and 2019, respectively; issued and outstanding - None; Series A Convertible Preferred stock, 0 and 7,938 shares designated as of December 31, 2020 and 2019, respectively issued and outstanding -- None
Common stock, $0.001 par value; 400,000,000 and 150,000,000 shares authorized as of December 31, 2020 and 2019, respectively; 206,008,683 and 8,531,504 shares issued and outstanding as of December 31, 2020 and 2019, respectively and 54,447 and 1,578 shares to be issued as of December 31, 2020 and December 31, 2019, respectively	206	9
Additional paid in capital	355,037	226,524
Accumulated deficit	(267,533)	(217,070)
Accumulated other comprehensive loss	(62)	(46)
Total stockholders' equity	87,648	9,417
Total liabilities and stockholders' equity	$ 98,183	$ 14,558

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
COSTS AND EXPENSES:
Research and development	$ 36,157	$ 18,192
General and administrative	14,354	10,636
Total costs and expenses	50,511	28,828
Operating Loss	(50,511)	(28,828)
Interest income, net	48	210
Net loss	(50,463)	(28,618)
Warrant deemed dividend	(451)
Preferred stock deemed dividend	(1,260)	(2,474)
Net loss available to common stockholders	$ (52,174)	$ (31,092)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.55)	$ (19.33)
Weighted average common shares outstanding, basic and diluted (in shares)	94,591,715	1,608,568

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (50,463)	$ (28,618)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	27	26
Common stock issued to acquire in-process research and development	1,360
Stock-based compensation	2,876	1,457
Changes in operating assets and liabilities:
Prepaid expenses	(6,859)	(1,676)
Accounts payable	1,528	1,663
Lease liabilities and ROU asset, net	51	3
Accrued expenses and other current liabilities	2,914	462
Net cash used in operating activities	(48,566)	(26,683)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(8,564)	(17)
Net cash used in investing activities	(8,564)	(17)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of warrants	9,896	70
Proceeds from ESPP	2	31
Proceeds, net of $711 and $957 expenses, from sale of preferred stock	4,602	6,980
Proceeds, net of $4,646 and $1,045 expenses, from sale of common stock and warrants	108,605	5,838
Net cash provided by financing activities	123,105	12,919
Effect of currency rate change on cash	(16)	(4)
Net increase (decrease) in cash, cash equivalents and restricted cash	65,959	(13,785)
Cash, cash equivalents and restricted cash beginning of the period	11,349	25,134
Cash, cash equivalents and restricted cash end of period	77,308	11,349
Supplemental disclosures of cash flow information:
Beneficial conversion feature in connection with sale of Series A Convertible preferred stock and deemed dividend		$ 2,474
Warrants deemed dividend	451
Series A Convertible preferred stock and deemed dividend	$ 1,260

Financial Info : Financials

Financials

2020 Quarterly Results

Financial Info

: Financials