Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities:      
Net Loss $ (15,492) $ (27,803) $ (44,785)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 3,409 4,009 3,198
Stock issued for milestone payments 0 0 1,350
Stock issued for exclusive channel collaboration agreement 0 0 3,000
Change in fair value of warrant liabilities (10,738) (11,412) 3,811
Depreciation 245 157 72
Changes in operating assets and liability:      
Prepaid expenses and other current assets 1,688 7,004 (7,971)
Deposits and other assets 0 (9) (8)
Accounts payable 27 (2,420) 3,417
Accrued expenses (1,101) 2,330 (1,001)
Accrued employee benefits 1,761 36 (261)
Deferred rent (3) 207 288
Net Cash Used In Operating Activity (20,204) (27,901) (38,890)
Cash Flows From Investing Activity:      
Purchases of property and equipment (212) (569) (501)
Net Cash Used In Investing Activity (212) (569) (501)
Cash Flows From Financing Activities:      
Proceeds from sale of Series A Preferred Stock, net of issuance costs 11,953 0 0
Proceeds from the exercise of stock options 166 814 41
Proceeds from “at the market” stock issuances 6,358 1,509 0
Proceeds from issuance of common stock 0 25,000 46,000
Cash paid as direct offering costs 0 (616) (3,357)
Net Cash Provided By Financing Activities 18,477 26,707 42,684
Net (decrease) increase in cash (1,939) (1,763) 3,293
Cash and cash equivalents at beginning of period 19,055 20,818 17,525
Cash and cash equivalents at end of period $ 17,116 $ 19,055 $ 20,818