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v3.7.0.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 13,673 $ 10,495
Marketable securities 9,723 6,499
Prepaid expenses 1,128 1,369
Other current assets 33 165
Total current assets 24,557 18,528
Property and equipment, net 68 77
Other assets 754 754
Total assets 25,379 19,359
Current liabilities:    
Accounts payable 1,096 899
Accrued liabilities 3,548 4,501
Warrant liability 3,279 1,145
Facility loan 2,797 2,700
Accrued interest payable 60 66
Total current liabilities 10,780 9,311
Facility loan, less current portion 5,362 6,098
Other liabilities 10 13
Total liabilities 16,152 15,422
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value: 10,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.0001 par value: 100,000,000 shares authorized; 28,752,451 and 23,447,003 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 3 2
Additional paid-in capital 437,536 426,895
Accumulated other comprehensive loss (2) (1)
Accumulated deficit (428,310) (422,959)
Total stockholders' equity 9,227 3,937
Total liabilities and stockholders' equity $ 25,379 $ 19,359
v3.7.0.1
Condensed Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]    
Collaboration revenue $ 4,793  
Operating expenses:    
Research and development 4,041 $ 4,428
General and administrative 3,701 2,461
Total operating expenses 7,742 6,889
Loss from operations (2,949) (6,889)
Other income (expense):    
Interest income 37 53
Interest expense (305) (332)
Other income (expense), net (2,134) 320
Net loss (5,351) (6,848)
Net loss (5,351) (6,848)
Other comprehensive income (loss):    
Unrealized (loss) gain on marketable securities, net of tax (1) 20
Other comprehensive income (loss): (1) 20
Comprehensive loss $ (5,352) $ (6,828)
Basic net loss per common share $ (0.20) $ (0.29)
Diluted net loss per common share $ (0.20) $ (0.29)
Weighted average common shares outstanding used to calculate basic net loss per common share 26,609,931 23,447,003
Weighted average common shares outstanding used to calculate diluted net loss per common share 26,609,931 23,447,003
v3.7.0.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net loss $ (5,351) $ (6,848)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 9 5
Stock-based compensation expense 1,278 559
Accretion and amortization of marketable securities (1) 106
Non-cash interest associated with debt discount accretion 120 113
Change in fair value of warrant liability 2,134 (320)
Changes in assets and liabilities:    
Other current assets (12) 37
Prepaid expenses 241 41
Accounts payable 197 769
Accrued liabilities (812) (602)
Accrued interest payable (6)  
Net cash used in operating activities (2,203) (6,140)
Investing activities    
Purchases of marketable securities (9,124) (1,000)
Proceeds from maturities of marketable securities 5,900 20,631
Net cash (used in) provided by investing activities (3,224) 19,631
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 9,364  
Repayment of facility loan principal (759)  
Net cash provided by financing activities 8,605  
Net increase in cash and cash equivalents 3,178 13,491
Cash and cash equivalents at beginning of period 10,495 7,706
Cash and cash equivalents at end of period $ 13,673 $ 21,197
Financials Financials