Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows Unaudited)

v3.21.1
Condensed Consolidated Statements of Cash Flows Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,649) $ (6,511)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 98 76
Amortization of debt issuance costs 2 19
(Gain) loss on change in estimated fair value of contingent royalty obligation 80 (321)
Share based compensation 919 804
Issuance of common stock for board of directors’ compensation 55
Impairment of fixed assets 9
Non-cash operating lease expense 36 48
Changes in operating assets and liabilities:    
Accounts receivable (39) 60
Inventory 33 (354)
Prepaid expenses and other current assets (687) (819)
Accounts payable and accrued expenses (296) (17)
Operating lease liabilities - current and non-current (38) (55)
Other current liabilities (56) (146)
Net cash used in operating activities (4,542) (7,207)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (139) (33)
Proceeds from sale of available-for-sale securities 8,203
Net cash provided by (used in) investing activities (139) 8,170
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise and purchase of warrants 11,959
Financing fees (348) (34)
Net cash provided by (used in) financing activities 11,611 (34)
NET INCREASE IN CASH AND CASH EQUIVALENTS 6,930 929
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 20,819 [1] 20,528
CASH AND CASH EQUIVALENTS AT END OF PERIOD 27,749 21,457
CASH PAID FOR:    
Interest 110 97
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:    
Common stock issued to settle accrued expenses for board of directors’ compensation 56  
Common stock issued for prepaid board of directors’ compensation 162
Reclassification of inventory to fixed assets 2 136
Reclassification of prepaid expenses to fixed assets 75
Purchase of fixed assets in accounts payable and accrued expenses 16
Financing costs incurred but unpaid at period end $ 18
[1] Derived from audited consolidated financial statements