Financials

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 17,116 $ 19,055
Prepaid expenses and other current assets 827 2,515
Total Current Assets 17,943 21,570
Property and equipment, net 872 905
Deposits and other assets 23 23
Total Assets 18,838 22,498
Current Liabilities:    
Accounts payable 2,020 1,993
Accrued expenses 1,526 2,627
Warrant liabilities 4,083 14,821
Accrued employee benefits 2,074 313
Deferred rent 90 3
Total Current Liabilities 9,793 19,757
Long term deferred rent 402 492
Total Liabilities 10,195 20,249
Stockholders’ (Deficit) Equity:    
Common stock, $0.001 par value; 350,000,000 shares authorized, 128,648,365 issued and 128,566,886 outstanding and 117,254,196 issued and 117,172,714 outstanding 129 117
Additional paid-in capital 192,545 175,762
Accumulated deficit (194,170) (172,034)
Total Synthetic Biologics, Inc. and Subsidiaries (Deficit) Equity (1,496) 3,845
Non-controlling interest (1,914) (1,596)
Total Stockholders’ (Deficit) Equity (3,410) 2,249
Total Liabilities and Stockholders’ (Deficit) Equity 18,838 22,498
Series A Preferred Stock [Member]    
Current Liabilities:    
Series A convertible preferred stock, $0.001 par value; 10,000,000 and zero shares authorized; 120,000 and zero shares issued and outstanding $ 12,053 $ 0

Source

v3.8.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating Costs and Expenses:      
General and administrative $ 7,467 $ 10,143 $ 8,074
Research and development 18,784 29,109 32,906
Total Operating Costs and Expenses 26,251 39,252 40,980
Loss from Operations (26,251) (39,252) (40,980)
Other Income (Expense):      
Change in fair value of warrant liability 10,738 11,412 (3,811)
Interest income 21 37 6
Total Other Income (Expense) 10,759 11,449 (3,805)
Net Loss (15,492) (27,803) (44,785)
Net Loss Attributable to Non-controlling Interest (318) (548) (1,048)
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries (15,174) (27,255) (43,737)
Series A Preferred Stock Dividends (6,962) 0 0
Net Loss Attributable to Common Stockholders $ (22,136) $ (27,255) $ (43,737)
Net Loss Per Share - Basic and Dilutive $ (0.18) $ (0.29) $ (0.54)
Weighted average number of shares outstanding during the period - Basic and Dilutive 124,366,059 94,290,436 80,705,692

Source

v3.8.0.1
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

Source