Financials

v3.10.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current Assets    
Cash and cash equivalents $ 28,918 $ 17,116
Prepaid expenses and other current assets 593 827
Total Current Assets 29,511 17,943
Property and equipment, net 607 872
Deposits and other assets 23 23
Total Assets 30,141 18,838
Current Liabilities:    
Accounts payable 1,034 2,020
Accrued expenses 919 1,526
Warrant liabilities 0 4,083
Accrued employee benefits 1,332 2,074
Deferred rent 99 90
Total Current Liabilities 3,384 9,793
Long term deferred rent 302 402
Total Liabilities 3,686 10,195
Commitments and Contingencies
Series A convertible preferred stock, $0.001 par value; 10,000,000 and zero shares authorized;120,000 issued and outstanding 12,296 12,053
Stockholders' Equity (Deficit):    
Common stock, $0.001 par value; 250,000,000 and 10,000,000 shares authorized, 15,484,411, issued and 15,482,083 outstanding and 3,673,342 issued and 3,671,014 outstanding 15 4
Additional paid-in capital 230,754 192,670
Accumulated deficit (219,461) (194,170)
Total Synthetic Biologics, Inc. and Subsidiaries Equity (Deficit) 17,068 (1,496)
Non-controlling interest (2,909) (1,914)
Total Stockholders' Equity (Deficit) 14,159 (3,410)
Total Liabilities and Stockholders' Equity (Deficit) 30,141 18,838
Series B Preferred Stock [Member]    
Stockholders' Equity (Deficit):    
Series B convertible preferred stock, $1,000 par value; 10,000,000 shares authorized, 15,723 issued and 9,161 outstanding 5,760 0
Total Stockholders' Equity (Deficit) $ 5,760 $ 0

Source

v3.10.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating Costs and Expenses:    
General and administrative $ 5,727 $ 7,467
Research and development 11,844 18,784
Total Operating Costs and Expenses 17,571 26,251
Loss from Operations (17,571) (26,251)
Other Income:    
Change in fair value of warrant liability 4,083 10,738
Interest income 67 21
Total Other Income 4,150 10,759
Net Loss (13,421) (15,492)
Net Loss Attributable to Non-controlling Interest (54) (318)
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries (13,367) (15,174)
Preferred Stock Dividends (243) (73)
Net Loss Attributable to Common Stockholders $ (25,291) $ (22,136)
Net Loss Per Share - Basic and Dilutive $ (4.06) $ (6.23)
Weighted average number of shares outstanding during the period - Basic and Dilutive 6,232,442 3,553,316
Series A Preferred Stock [Member]    
Other Income:    
Preferred Stock Dividends $ (243) $ (6,962)
Series B Preferred Stock [Member]    
Other Income:    
Net Loss Attributable to Non-controlling Interest 0 0
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries 0 0
Preferred Stock Dividends $ (11,681) $ 0

Source

v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities:    
Net Loss $ (13,421) $ (15,492)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,074 3,409
Common stock issued to vendor 26 0
Subsidiary stock issues to vendor 36 0
Warrant issued to vendor 9 0
Change in fair value of warrant liabilities (4,083) (10,738)
Depreciation 272 245
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 234 1,688
Deposits and other assets 0 0
Accounts payable (987) 27
Accrued expenses (607) (1,101)
Accrued employee benefits (742) 1,761
Deferred rent (90) (3)
Net Cash Used In Operating Activities (17,279) (20,204)
Cash Flows From Investing Activities:    
Purchases of property and equipment (7) (212)
Net Cash Used In Investing Activities (7) (212)
Cash Flows From Financing Activities:    
Proceeds from sale of Series A Preferred Stock, net of issuance cost 0 11,953
Proceeds from Units offering, net of issuance cost 16,916 0
Proceeds from "at the market" stock issuance 12,172 6,358
Proceeds from issuance of common stock for stock option exercises 0 166
Net Cash Provided By Financing Activities 29,088 18,477
Net increase (decrease) in cash 11,802 (1,939)
Cash and cash equivalents at beginning of period 17,116 19,055
Cash and cash equivalents at end of period 28,918 17,116
NONCASH FINANCING ACTIVITIES:    
Conversion of Series B Preferred Stock 4,042 0
In-kind dividends in preferred stock 243 73
Series A Preferred Stock [Member]    
NONCASH FINANCING ACTIVITIES:    
Deemed dividend for accretion of Preferred Stock discount 0 6,889
Series B Preferred Stock [Member]    
NONCASH FINANCING ACTIVITIES:    
Deemed dividend for accretion of Preferred Stock discount $ 11,681 $ 0

Source