Investors

Home / Investors / Financials
v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 41,795 $ 23,054
Marketable securities 156,350 74,156
Receivable from collaboration   5,000
Accrued interest receivable 217 103
Prepaid expenses 1,793 1,208
Other current assets 2,100 23
Total current assets 202,255 103,544
Property and equipment, net 90 69
Other assets 1,363 634
Total assets 203,708 104,247
Current liabilities:    
Accounts payable 1,629 1,311
Accrued clinical trial expenses 9,574 2,929
Warrant liability   6,091
Other accrued liabilities 2,437 2,828
Facility loan   3,108
Accrued interest payable   43
Total current liabilities 13,640 16,310
Facility loan, less current portion   2,990
Deferred rent, net of current portion 1,937  
Total liabilities 15,577 19,300
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; 59,439,130 and 44,408,796 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively 6 4
Additional paid-in capital 691,771 535,503
Accumulated other comprehensive loss (31) (44)
Accumulated deficit (503,615) (450,516)
Total stockholders’ equity 188,131 84,947
Total liabilities and stockholders’ equity $ 203,708 $ 104,247
v3.10.0.1
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Collaboration revenue       $ 4,793
Type of Revenue [Extensible List] us-gaap:LicenseAndServiceMember us-gaap:LicenseAndServiceMember us-gaap:LicenseAndServiceMember us-gaap:LicenseAndServiceMember
Operating expenses:        
Research and development $ 17,853 $ 4,184 $ 41,727 $ 12,269
General and administrative 3,276 2,210 10,223 9,493
Total operating expenses 21,129 6,394 51,950 21,762
Loss from operations (21,129) (6,394) (51,950) (16,969)
Other income (expense):        
Interest income 1,113 216 2,882 297
Interest expense   (258) (336) (846)
Loss on extinguishment of debt     (407)  
Other income (expense), net 1,453 (1,798) (3,288) (4,996)
Total other income (expense) 2,566 (1,840) (1,149) (5,545)
Net loss (18,563) (8,234) (53,099) (22,514)
Other comprehensive income (loss):        
Unrealized gain (loss) on marketable securities 36 (12) 13 (12)
Total other comprehensive income (loss) 36 (12) 13 (12)
Comprehensive loss $ (18,527) $ (8,246) $ (53,086) $ (22,526)
Basic net loss per common share $ (0.31) $ (0.21) $ (0.93) $ (0.71)
Diluted net loss per common share $ (0.34) $ (0.21) $ (0.93) $ (0.71)
Weighted average common shares outstanding used to calculate basic net loss per common share 59,121,600 40,035,690 57,255,666 31,848,536
Weighted average common shares outstanding used to calculate diluted net loss per common share 59,387,780 40,035,690 57,298,105 31,848,536
v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities    
Net loss $ (53,099) $ (22,514)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 39 26
Stock-based compensation expense 5,275 3,938
Net accretion and amortization of investments in marketable securities (1,358) (47)
Non-cash interest associated with debt discount accretion 148 339
Loss on extinguishment of debt 407  
Change in fair value of warrant liability 3,710 4,996
Gain on extinguishment of warrant liability (422)  
Accretion of tenant improvement allowance (154)  
Changes in assets and liabilities:    
Receivable from collaboration 5,000  
Interest receivable and other current assets (93) (101)
Prepaid expenses (585) 1
Other assets (729) 120
Accounts payable 318 185
Accrued liabilities 6,245 (486)
Accrued interest payable (43) (17)
Net cash used in operating activities (35,341) (13,560)
Investing activities    
Purchases of property and equipment (60)  
Purchases of marketable securities (249,422) (88,941)
Proceeds from maturities of marketable securities 168,600 16,315
Net cash used in investing activities (80,882) (72,626)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 135,520 100,587
Proceeds from issuance of common stock pursuant to equity award plans 3,547 440
Proceeds from issuance of common stock upon exercise of warrants 2,550  
Repayment of facility loan principal (6,527) (2,327)
Payment of fees to extinguish facility loan (126)  
Net cash provided by financing activities 134,964 98,700
Net increase in cash and cash equivalents 18,741 12,514
Cash and cash equivalents at beginning of period 23,054 10,495
Cash and cash equivalents at end of period 41,795 23,009
Supplemental disclosure    
Cash paid for interest 231 526
Supplemental non-cash investing and financing activities    
Lessor funded lease incentives included in other current assets 2,100  
Issuance of common stock upon warrant exercises $ 9,379 $ 279