Financials

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 21,050 $ 19,055
Prepaid expenses and other current assets 1,263 2,515
Total Current Assets 22,313 21,570
Property and equipment, net 943 905
Deposits and other assets 23 23
Total Assets 23,279 22,498
Current Liabilities:    
Accounts payable 1,097 1,993
Accrued expenses 2,070 2,627
Warrant liabilities 12,664 14,821
Accrued employee benefits 1,606 313
Deferred rent 88 3
Total Current Liabilities 17,525 19,757
Long term deferred rent 426 492
Total Liabilities 17,951 20,249
Stockholders' Equity:    
Common stock, $0.001 par value; 350,000,000 shares authorized; 128,648,365 and 117,254,196 shares issued; and 128,566,883 and 117,172,714 shares outstanding 129 117
Additional paid-in capital 192,042 175,762
Accumulated deficit (196,959) (172,034)
Total Synthetic Biologics, Inc. and Subsidiaries (Deficit) Equity (4,788) 3,845
Non-controlling interest (1,876) (1,596)
Total Stockholders' (Deficit) Equity (6,664) 2,249
Total Liabilities and Stockholders' (Deficit) Equity 23,279 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 $ 11,992 $ 0

Source

v3.8.0.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Operating Costs and Expenses:        
General and administrative $ 1,705 $ 2,095 $ 5,440 $ 6,668
Research and development 4,137 7,061 15,028 22,380
Total Operating Costs and Expenses 5,842 9,156 20,468 29,048
Loss from Operations (5,842) (9,156) (20,468) (29,048)
Other (Expense) Income:        
Change in fair value of warrant liability (5,092) 666 2,157 3,681
Interest income 4 1 7 36
Total Other (Expense) Income (5,088) 667 2,164 3,717
Net Loss (10,930) (8,489) (18,304) (25,331)
Net Loss Attributable to Non-controlling Interest (8) (136) (280) (451)
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries (10,922) (8,353) (18,024) (24,880)
Series A Preferred Stock Dividends (6,901) 0 (6,901) 0
Net Loss Attributable to Common Stockholders $ (17,823) $ (8,353) $ (24,925) $ (24,880)
Net Loss Per Share - Basic and Dilutive $ (0.14) $ (0.09) $ (0.20) $ (0.27)
Weighted average number of shares outstanding during the period - Basic and Dilutive 128,279,674 91,441,687 122,950,397 91,095,990

Source

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities:    
Net Loss $ (18,304) $ (25,331)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,906 2,906
Change in fair value of warrant liabilities (2,157) (3,681)
Depreciation 172 111
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,251 6,428
Deposits and other assets 0 (12)
Accounts payable (895) (171)
Accrued expenses (557) 1,193
Accrued employee benefits 1,293 1,063
Deferred rent 19 (23)
Net Cash Used In Operating Activities (16,272) (17,517)
Cash Flows From Investing Activities:    
Purchases of property and equipment (209) (199)
Net Cash Used In Investing Activities (209) (199)
Cash Flows From Financing Activities:    
Proceeds from sale of Series A convertible preferred stock, net of issuance cost 11,952 0
Proceeds from issuance of common stock for stock option exercises 166 814
Proceeds from “at the market” stock issuance 6,358 633
Net Cash Provided By Financing Activities 18,476 1,447
Net increase (decrease) in cash 1,995 (16,269)
Cash at beginning of period 19,055 20,818
Cash at end of period $ 21,050 $ 4,549

Source