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v3.8.0.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 23,009 $ 10,495
Marketable securities 79,160 6,499
Prepaid expenses 1,368 1,369
Other current assets 122 165
Total current assets 103,659 18,528
Property and equipment, net 51 77
Other assets 634 754
Total assets 104,344 19,359
Current liabilities:    
Accounts payable 1,235 899
Accrued liabilities 3,881 4,501
Warrant liability 5,862 1,145
Facility loan 3,001 2,700
Accrued interest payable 49 66
Total current liabilities 14,028 9,311
Facility loan, less current portion 3,809 6,098
Other liabilites 3 13
Total liabilities 17,840 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; 43,846,709 and 23,447,003 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively 4 2
Additional paid-in capital 531,986 426,895
Accumulated other comprehensive loss (13) (1)
Accumulated deficit (445,473) (422,959)
Total stockholders' equity 86,504 3,937
Total liabilities and stockholders' equity $ 104,344 $ 19,359
v3.8.0.1
Condensed Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Collaboration revenue     $ 4,793  
Operating expenses:        
Research and development $ 4,184 $ 3,534 12,269 $ 12,093
General and administrative 2,210 2,130 9,493 6,806
Total operating expenses 6,394 5,664 21,762 18,899
Loss from operations (6,394) (5,664) (16,969) (18,899)
Other income (expense):        
Interest income 216 45 297 146
Interest expense (258) (341) (846) (1,009)
Other (expense) income, net (1,798) 81 (4,996) 43
Net loss (8,234) (5,879) (22,514) (19,719)
Net loss (8,234) (5,879) (22,514) (19,719)
Other comprehensive (loss) income:        
Unrealized (loss) gain on marketable securities, net of tax (12) 3 (12) 19
Other comprehensive (loss) income: (12) 3 (12) 19
Comprehensive loss $ (8,246) $ (5,876) $ (22,526) $ (19,700)
Basic net loss per common share $ (0.21) $ (0.25) $ (0.71) $ (0.84)
Diluted net loss per common share $ (0.21) $ (0.25) $ (0.71) $ (0.84)
Weighted average common shares outstanding used to calculate basic net loss per common share 40,035,690 23,447,003 31,848,536 23,447,003
Weighted average common shares outstanding used to calculate diluted net loss per common share 40,035,690 23,447,003 31,848,536 23,447,003
v3.8.0.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net loss $ (22,514) $ (19,719)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26 21
Stock-based compensation expense 3,938 1,797
Accretion and amortization of marketable securities (47) 128
Non-cash interest associated with debt discount accretion 339 352
Change in fair value of warrant liability 4,996 (43)
Changes in assets and liabilities:    
Other current assets (101) 164
Prepaid expenses 1 (466)
Other assets 120 270
Accounts payable 185 (73)
Accrued liabilities (486) (381)
Accrued interest payable (17) (1)
Net cash used in operating activities (13,560) (17,951)
Investing activities    
Purchases of property and equipment   (42)
Purchases of marketable securities (88,941) (19,304)
Proceeds from maturities of marketable securities 16,315 36,656
Net cash (used in) provided by investing activities (72,626) 17,310
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 100,587  
Proceeds from issuance of common stock pursuant to equity award plans 440  
Repayment of facility loan principal (2,327) (244)
Net cash provided by (used in) financing activities 98,700 (244)
Net increase (decrease) in cash and cash equivalents 12,514 (885)
Cash and cash equivalents at beginning of period 10,495 7,706
Cash and cash equivalents at end of period $ 23,009 $ 6,821