Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 18,941 $ 19,175
Marketable securities-available for sale, at fair value 7,180 23,841
Prepaid expenses and other 1,019 3,343
Total current assets 27,140 46,359
Property and equipment, net 150 350
Restricted cash 89 132
Intangible asset 120 120
Security deposits 11 57
Total assets 27,510 47,018
Current liabilities:    
Accounts payable 872 3,049
Accrued expenses 1,244 3,601
Total current liabilities 2,116 6,650
Deferred rent payable 33 106
Total liabilities 2,149 6,756
Commitments (See Note 10)  
Stockholders' equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized, none issued or outstanding
Common stock, $0.001 par value; 15,000,000 shares authorized; 3,918,111 and 1,883,167 shares issued and outstanding as of December 31, 2016 and 2015, respectively, 2,496 and 1,760 shares to be issued as of December 31, 2016 and 2015, respectively 4 2
Additional paid in capital 166,604 142,675
Accumulated deficit (141,240) (102,398)
Accumulated other comprehensive income loss (7) (17)
Total stockholders' equity 25,361 40,262
Total liabilities and stockholders' equity $ 27,510 $ 47,018