Financials

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash	$ 55,022	$ 11,249
Prepaid expenses and other	2,605	2,699
Total current assets	57,627	13,948
Property and equipment, net	37	34
Right-of-use assets, net	441	356
Security Deposit	20
Restricted cash	100	100
Intangible Asset	120	120
Total assets	58,345	14,558
Current liabilities:
Accounts payable	3,189	3,070
Accrued expenses and other current liabilities	1,143	1,713
Lease liability, current	346	352
Total current liabilities	4,678	5,135
Lease liability, net of current portion	95	6
Total liabilities	4,773	5,141
Commitments (See Note 12)
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized Series B Convertible Preferred stock, $0.001 par value; 5,313 shares designated; 0 issued and outstanding as of June 30, 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; 104,803,906 and 8,531,504 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively, and 1,578 shares to be issued as of December 31, 2019	105	9
Additional paid in capital	292,058	226,524
Accumulated deficit	(238,522)	(217,070)
Accumulated other comprehensive loss	(69)	(46)
Total stockholders' equity	53,572	9,417
Total liabilities and stockholders' equity	$ 58,345	$ 14,558

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
COSTS AND EXPENSES:
Research and development	$ 10,571	$ 3,554	$ 15,247	$ 7,450
General and administrative	3,621	2,352	6,242	4,753
Total costs and expenses	14,192	5,906	21,489	12,203
Operating Loss	(14,192)	(5,906)	(21,489)	(12,203)
Interest income, net	13	66	37	130
Net loss	(14,179)	(5,840)	(21,452)	(12,073)
Warrant deemed dividend			451
Preferred stock deemed dividend			1,260
Net loss available to common stockholders	$ (14,179)	$ (5,840)	$ (23,163)	$ (12,073)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.23)	$ (9.42)	$ (0.54)	$ (21.77)
Weighted average common shares outstanding, basic and diluted (in shares)	62,391,006	620,204	43,209,988	554,624

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (21,452)	$ (12,073)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	12	16
Common stock issued to acquire in-process research and development	1,360
Stock-based compensation	1,093	736
Changes in operating assets and liabilities:
Prepaid expenses and other	74	(987)
Accounts payable	118	(358)
Lease liabilities and ROU asset, net	(2)	2
Accrued expenses and other current liabilities	(570)	(691)
Net cash used in operating activities	(19,367)	(13,355)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of furniture and fixtures	(14)	(10)
Net cash used by investing activities	(14)	(10)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of warrants	7,474	70
Proceeds from ESPP	2
Proceeds, net of $711 and $0 expenses, from sale of preferred stock	4,602
Proceeds, net of $2,644 and $1 expenses, from sale of common stock and warrants	51,099	420
Net cash provided by financing activities	63,177	490
Effect of currency rate change on cash	(23)	(9)
Net increase (decrease) in cash, cash equivalents and restricted cash	43,773	(12,884)
Cash, cash equivalents and restricted cash beginning of the period	11,349	25,134
Cash, cash equivalents and restricted cash end of period	55,122	$ 12,250
Non-cash financing activities:
Warrants deemed dividend	451
Series B Convertible preferred stock and deemed dividend	$ 1,260

Financial Info : Financials

Financials

2020 Quarterly Results

Financial Info

: Financials