Financials

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash	$ 25,034	$ 25,496
Prepaid expenses and other	1,022	947
Total current assets	26,056	26,443
Property and equipment, net	43	91
Restricted cash	100	89
Intangible Asset	120	120
Security deposits		11
Total assets	26,319	26,754
Current liabilities:
Accounts payable	1,404	1,296
Accrued expenses	1,251	830
Total current liabilities	2,655	2,126
Deferred rent payable		12
Total liabilities	2,655	2,138
Commitments (See Note 9)
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; Series A Convertible Preferred stock, $0.001 par value; 11,984 shares designated; 9,856 and 0 shares issued and outstanding as of December 31, 2018 and 2017, respectively
Common stock, $0.001 par value; 15,000,000 shares authorized; 3,251,970 and 785,874 shares issued and outstanding as of December 31, 2018 and 2017, respectively, and 1,758 shares to be issued as of December 31, 2018	3	1
Additional paid in capital	212,154	186,990
Accumulated deficit	(188,452)	(162,363)
Accumulated other comprehensive loss	(41)	(12)
Total stockholders' equity	23,664	24,616
Total liabilities and stockholders' equity	$ 26,319	$ 26,754

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
COSTS AND EXPENSES:
Research and development	$ 17,558	$ 13,342
General and administrative	8,764	7,949
Total costs and expenses	26,322	21,291
Operating Loss	(26,322)	(21,291)
Interest income, net	233	168
Net loss	(26,089)	(21,123)
Preferred stock deemed dividend	3,266
Net loss available to common stockholders	$ (29,355)	$ (21,123)
Net loss per common share, basic and diluted (in dollars per share)	$ (26.81)	$ (31.69)
Weighted average common shares outstanding, basic and diluted (in shares)	1,094,867	666,509

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (26,089)	$ (21,123)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	54	70
Stock-based compensation	1,627	1,790
Changes in operating assets and liabilities:
Prepaid expenses	(79)	72
Accounts payable	106	424
Accrued expenses and deferred rent	410	(361)
Net cash used in operating activities	(23,971)	(19,128)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of furniture and fixtures	(6)	(5)
Maturities of marketable securities		7,174
Net cash provided by investing activities	(6)	7,169
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of warrants		14
Proceeds, net of $1,159 expenses, from sale of preferred stock	10,825
Proceeds, net of $610 and $1,183 expenses, from sale of common stock	12,714	18,505
Net cash provided by financing activities	23,539	18,519
Effect of currency rate change on cash	(13)	(5)
Net (decrease) increase in cash, cash equivalents and restricted cash	(451)	6,555
Cash, cash equivalents and restricted cash beginning of the year	25,585	19,030
Cash, cash equivalents and restricted cash end of year	25,134	25,585
Supplemental disclosures of cash flow information:
Taxes paid	82	65
Non cash financing activities:
Issuance of common stock under employee benefit plan		$ 74
Beneficial conversion feature in connection with sale of Series A Convertible preferred stock and deemed dividend	$ 3,266

Financial Info : Financials