Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current Assets    
Cash and cash equivalents $ 9,549 $ 17,116
Prepaid expenses and other current assets 559 827
Total Current Assets 10,108 17,943
Property and equipment, net 665 872
Deposits and other assets 23 23
Total Assets 10,796 18,838
Current Liabilities:    
Accounts payable 879 2,020
Accrued expenses 1,485 1,526
Warrant liabilities 19 4,083
Accrued employee benefits 1,434 2,074
Deferred rent 97 90
Total Current Liabilities 3,914 9,793
Long term deferred rent 329 402
Total Liabilities 4,243 10,195
Series A convertible preferred stock, $0.001 par value; 10,000,000 and zero shares authorized; 120,000 issued and outstanding 12,234 12,053
Stockholders' Deficit:    
Common stock, $0.001 par value; 200,000,000 and 10,000,000 shares authorized, 5,346,674 and 3,675,668 issued and 5,344,346 and 3,673,340 outstanding 5 4
Additional paid-in capital 200,807 192,670
Accumulated deficit (204,545) (194,170)
Total Synthetic Biologics, Inc. and Subsidiaries Deficit (3,733) (1,496)
Non-controlling interest (1,948) (1,914)
Total Stockholders' Deficit (5,681) (3,410)
Total Liabilities and Stockholders' Deficit $ 10,796 $ 18,838

Source

v3.10.0.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Operating Costs and Expenses:        
General and administrative $ 1,474 $ 1,705 $ 4,525 $ 5,440
Research and development 2,846 4,137 9,788 15,028
Total Operating Costs and Expenses 4,320 5,842 14,313 20,468
Loss from Operations (4,320) (5,842) (14,313) (20,468)
Other Income (Expense):        
Change in fair value of warrant liability 626 (5,092) 4,064 2,157
Interest income 5 4 20 7
Total Other Income (Expense) 631 (5,088) 4,084 2,164
Net Loss (3,689) (10,930) (10,229) (18,304)
Net Loss Attributable to Non-controlling Interest (9) (8) (35) (280)
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries (3,680) (10,922) (10,194) (18,024)
Series A Preferred Stock Dividends (61) (6,901) (181) (6,901)
Net Loss Attributable to Common Stock Holders $ (3,741) $ (17,823) $ (10,375) $ (24,925)
Net Loss Per Share - Basic and Dilutive $ (0.93) $ (4.90) $ (2.73) $ (7.00)
Weighted average number of shares outstanding during the period - Basic and Dilutive 4,028,304 3,665,134 3,802,812 3,512,868

Source

v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities:    
Net Loss $ (10,229) $ (18,304)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,708 2,906
Warrant issued to consultant 9 0
Change in fair value of warrant liabilities (4,064) (2,157)
Depreciation 207 172
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 268 1,251
Accounts payable (1,141) (895)
Accrued expenses (41) (557)
Accrued employee benefits (640) 1,293
Deferred rent (66) 19
Net Cash Used In Operating Activities (13,989) (16,272)
Cash Flows From Investing Activities:    
Purchases of property and equipment 0 (209)
Net Cash Used In Investing Activities 0 (209)
Cash Flows From Financing Activities:    
Proceeds from sale of Series A Preferred Stock, net of issuance cost 0 11,952
Proceeds from issuance of common stock for stock option exercises 0 166
Proceeds from "at the market" stock issuance 6,422 6,358
Net Cash Provided By Financing Activities 6,422 18,476
Net (decrease) increase in cash (7,567) 1,995
Cash at beginning of period 17,116 19,055
Cash at end of period 9,549 21,050
NONCASH FINANCING ACTIVITY:    
Dividends on redeemable convertible preferred stock $ 181 $ 0

Source