Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 32,938,000 $ 12,596,000
Short-term investments 12,086,000 82,438,000
Accounts receivable 3,000,000
Prepaid expenses, other current assets and restricted cash 7,377,000 2,708,000
Total current assets 55,401,000 97,742,000
Property and equipment, net 12,339,000 11,322,000
Right-of-use lease assets 9,403,000 7,032,000
Licensed technology, net 1,384,000 1,500,000
Goodwill 32,466,000
Other assets and restricted cash 1,059,000 1,136,000
Total assets 79,586,000 151,198,000
Current liabilities:    
Accounts payable 4,325,000 4,695,000
Accrued expenses 5,585,000 3,410,000
Current portion of lease liability 1,818,000 1,713,000
Current portion of PPP loan payable 330,000
Current portion of payable to licensor 4,599,000 31,515,000
Deferred revenue 296,000 296,000
Total current liabilities 16,623,000 41,959,000
PPP loan payable 1,428,000
Payable to licensor 3,828,000
Other long-term liabilities 200,000
Long-term lease liabilities 7,560,000 5,260,000
Total liabilities 28,211,000 48,647,000
Commitments and contingencies
Stockholders’ equity:    
Preferred stock - $0.01 par value; authorized 2,000,000 shares; no issued and outstanding shares at December 31, 2021 and 2020
Common stock - $0.01 par value; authorized 200,000,000 shares; issued and outstanding 147,205,422 at December 31, 2021; issued and outstanding 96,131,678 at December 31, 2020 1,472,000 961,000
Additional paid-in capital 705,570,000 672,304,000
Accumulated deficit (655,640,000) (570,704,000)
Accumulated other comprehensive loss (27,000) (10,000)
Total stockholders’ equity 51,375,000 102,551,000
Total liabilities and stockholders’ equity $ 79,586,000 $ 151,198,000