Financials

v3.7.0.1
Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 12,929 $ 24,203
Marketable securities 39,745 36,832
Prepaid expenses and other current assets 263 628
Total current assets 52,937 61,663
Property and equipment and other assets, net 72 272
Total assets 53,009 61,935
Current liabilities:    
Accounts payable 1,278 1,921
Accrued direct program expenses 87 2,646
Accrued restructuring charges 2,251  
Accrued employee benefits 119 1,879
Accrued other liabilities 54 53
Total current liabilities 3,789 6,499
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized and no shares issued and outstanding for both periods presented
Common stock, $0.001 par value; 200,000,000 shares authorized for both periods presented; 15,656,251 and 15,565,973 shares issued and outstanding, respectively 16 16
Additional paid-in capital 238,434 235,737
Accumulated other comprehensive income (14) (17)
Accumulated deficit (189,216) (180,300)
Total stockholders’ equity 49,220 55,436
Total liabilities and stockholders’ equity $ 53,009 $ 61,935

Source

v3.7.0.1
Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating expenses:    
Research and development $ 2,758 $ 5,567
General and administrative 2,781 2,367
Restructuring charges 3,486  
Loss from operations (9,025) (7,934)
Interest income 109 96
Net loss (8,916)  
Net loss attributable to common stockholders (8,916) (7,838)
Unrealized gains (losses) on marketable securities, net 3  
Comprehensive loss $ (8,913) $ (7,838)
Weighted average shares outstanding - basic and diluted (in shares) 15,644 15,462
Net loss per share attributable to common stockholders - basic and diluted (in dollars per share) $ (0.57) $ (0.51)
Total stock-based compensation expense $ 2,697 $ 707
Research and development    
Operating expenses:    
Total stock-based compensation expense 1,265 213
General and administrative    
Operating expenses:    
Total stock-based compensation expense $ 1,432 $ 494

Source

v3.7.0.1
Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net loss $ (8,916) $ (7,838)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 57 30
Stock-based compensation expense 2,697 707
Gain on sales of property and equipment (26)  
Changes in operating assets and liabilities:    
Prepaid expenses and other 462 (69)
Accounts payable (643) 202
Accrued direct program expenses (2,559) 1,054
Accrued restructuring charges 2,251  
Accrued employee benefits (1,760) (963)
Accrued other liabilities 1 (134)
Net cash used in operating activities (8,436) (7,011)
Investing activities    
Purchases of property and equipment   (31)
Proceeds from sales of property and equipment 72  
Purchases of marketable securities (18,982) (29,469)
Proceeds from sales and maturities of marketable securities 16,072 27,550
Net cash used in investing activities (2,838) (1,950)
Net decrease in cash and cash equivalents (11,274) (8,961)
Cash and cash equivalents, beginning of period 24,203 24,991
Cash and cash equivalents, end of period $ 12,929 $ 16,030

Source

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