Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (28,618) $ (26,089)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26 54
Stock-based compensation 1,457 1,627
Changes in operating assets and liabilities:    
Prepaid expenses (1,676) (79)
Accounts payable 1,663 106
Operating lease liabilities and ROU asset, net 3  
Accrued expenses and other current liabilities 462 410
Net cash used in operating activities (26,683) (23,971)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of furniture and fixtures (17) (6)
Net cash used in investing activities (17) (6)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 70  
Proceeds, net of $957 and $1,159 expenses, from sale of preferred stock 6,980 10,825
Proceeds, net of $1,045 and $610 expenses, from sale of common stock 5,869 12,714
Net cash provided by financing activities 12,919 23,539
Effect of currency rate change on cash (4) (13)
Net decrease in cash, cash equivalents and restricted cash (13,785) (451)
Cash, cash equivalents and restricted cash beginning of the year 25,134 25,585
Cash, cash equivalents and restricted cash end of year 11,349 25,134
Supplemental disclosures of cash flow information:    
Taxes paid 82
Non cash financing activities:    
Beneficial conversion feature in connection with sale of Series A Convertible preferred stock and deemed dividend $ 2,474 $ 3,266