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, 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