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v3.7.0.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 9,509 $ 10,495
Marketable securities 7,217 6,499
Prepaid expenses 1,126 1,369
Other current assets 17 165
Total current assets 17,869 18,528
Property and equipment, net 59 77
Other assets 804 754
Total assets 18,732 19,359
Current liabilities:    
Accounts payable 1,101 899
Accrued liabilities 3,592 4,501
Warrant liability 4,343 1,145
Facility loan 2,897 2,700
Accrued interest payable 55 66
Total current liabilities 11,988 9,311
Facility loan, less current portion 4,599 6,098
Other liabilites 6 13
Total liabilities 16,593 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 June 30, 2017 and December 31, 2016, respectively 3 2
Additional paid-in capital 439,376 426,895
Accumulated other comprehensive loss (1) (1)
Accumulated deficit (437,239) (422,959)
Total stockholders' equity 2,139 3,937
Total liabilities and stockholders' equity $ 18,732 $ 19,359
v3.7.0.1
Condensed Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Collaboration revenue     $ 4,793  
Operating expenses:        
Research and development $ 4,044 $ 4,131 8,085 $ 8,559
General and administrative 3,582 2,215 7,283 4,676
Total operating expenses 7,626 6,346 15,368 13,235
Loss from operations (7,626) (6,346) (10,575) (13,235)
Other income (expense):        
Interest income 44 48 81 101
Interest expense (283) (336) (588) (668)
Other income (expense), net (1,064) (358) (3,198) (38)
Net loss (8,929) (6,992) (14,280) (13,840)
Net loss (8,929) (6,992) (14,280) (13,840)
Other comprehensive income (loss):        
Unrealized gain (loss) on marketable securities, net of tax 1 (4)   16
Other comprehensive income (loss): 1 (4)   16
Comprehensive loss $ (8,928) $ (6,996) $ (14,280) $ (13,824)
Basic net loss per common share $ (0.31) $ (0.30) $ (0.52) $ (0.59)
Diluted net loss per common share $ (0.31) $ (0.30) $ (0.52) $ (0.59)
Weighted average common shares outstanding used to calculate basic net loss per common share 28,752,451 23,447,003 27,687,110 23,447,003
Weighted average common shares outstanding used to calculate diluted net loss per common share 28,752,451 23,447,003 27,687,110 23,447,003
v3.7.0.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net loss $ (14,280) $ (13,840)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 18 11
Stock-based compensation expense 3,118 1,130
Accretion and amortization of marketable securities 4 133
Non-cash interest associated with debt discount accretion 232 229
Change in fair value of warrant liability 3,198 39
Changes in assets and liabilities:    
Other current assets 4 167
Prepaid expenses 243 (421)
Other assets (50) 520
Accounts payable 202 264
Accrued liabilities (772) (442)
Accrued interest payable (11)  
Net cash used in operating activities (8,094) (12,210)
Investing activities    
Purchases of property and equipment   (37)
Purchases of marketable securities (9,822) (17,704)
Proceeds from maturities of marketable securities 9,100 34,656
Net cash (used in) provided by investing activities (722) 16,915
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 9,364  
Repayment of facility loan principal (1,534)  
Net cash provided by financing activities 7,830  
Net (decrease) increase in cash and cash equivalents (986) 4,705
Cash and cash equivalents at beginning of period 10,495 7,706
Cash and cash equivalents at end of period $ 9,509 $ 12,411