Financials

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 4,549 $ 20,818
Prepaid expenses and other current assets 3,091 9,519
Total Current Assets 7,640 30,337
Property and equipment, net 582 494
Deposits and other assets 26 14
Total Assets 8,248 30,845
Current Liabilities:    
Accounts payable 4,242 4,413
Accrued expenses 1,490 297
Warrant liabilities 6,886 10,567
Accrued employee benefits 1,341 277
Deferred rent 51 21
Total Current Liabilities 14,010 15,575
Long term deferred rent 214 267
Total Liabilities 14,224 15,842
Commitments and Contingencies
Stockholders' (Deficit) Equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized, none issued and outstanding 0 0
Common stock, $0.001 par value; 250,000,000 shares authorized, 91,733,833 issued and 91,652,351 outstanding and 90,908,234 issued and 90,826,752 outstanding 92 91
Additional paid-in capital 165,091 160,739
Accumulated deficit (169,659) (144,779)
Total Synthetic Biologics, Inc. and Subsidiaries Equity (4,476) 16,051
Non-controlling interest (1,500) (1,048)
Total Stockholders' (Deficit) Equity (5,976) 15,003
Total Liabilities and Stockholders' Equity $ 8,248 $ 30,845

Source

v3.5.0.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Operating Costs and Expenses:        
General and administrative $ 2,095 $ 1,604 $ 6,668 $ 5,539
Research and development 7,061 10,046 22,380 24,048
Total Operating Costs and Expenses 9,156 11,650 29,048 29,587
Loss from Operations (9,156) (11,650) (29,048) (29,587)
Other Income (Expense):        
Change in fair value of warrant liability 666 4,141 3,681 (3,906)
Interest income 1 2 36 5
Total Other Income (Expense) 667 4,143 3,717 (3,901)
Net Loss (8,489) (7,507) (25,331) (33,488)
Net Loss Attributable to Non-controlling Interest (136) (733) (451) (733)
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries $ (8,353) $ (6,774) $ (24,880) $ (32,755)
Net Loss Per Share - Basic $ (0.09) $ (0.08) $ (0.27) $ (0.42)
Net Loss Per Share - Dilutive $ (0.09) $ (0.12) $ (0.27) $ (0.42)
Weighted average number of shares outstanding during the period - Basic 91,441,687 85,974,751 91,095,990 77,300,375
Weighted average number of shares outstanding during the period - Dilutive 91,441,687 87,585,103 91,095,990 77,300,375

Source

v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows From Operating Activities:    
Net Loss $ (25,331) $ (33,488)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,906 2,059
Stock issued for milestone payments 0 1,350
Stock issued for exclusive channel collaboration agreement 0 3,000
Change in fair value of warrant liabilities (3,681) 3,906
Depreciation 111 39
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 6,428 (8,783)
Deposits and other assets (12) (8)
Accounts payable (171) 5,030
Accrued expenses 1,193 (1,054)
Accrued employee benefits 1,063 (224)
Deferred rent (23) 253
Net Cash Used In Operating Activities (17,517) (27,920)
Cash Flows From Investing Activities:    
Purchases of property and equipment (199) (457)
Net Cash Used In Investing Activities (199) (457)
Cash Flows From Financing Activities:    
Proceeds from issuance of common stock 0 46,000
Cash paid as direct offering costs 0 (3,357)
Proceeds from issuance of common stock for stock option exercises 814 0
Proceeds from "at the market" stock issuance, net of issuance costs 633 15
Net Cash Provided By Financing Activities 1,447 42,658
Net increase (decrease) in cash (16,269) 14,281
Cash at beginning of period 20,818 17,525
Cash at end of period 4,549 31,806
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 0
Cash paid for taxes $ 0 $ 0

Source