Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net loss $ (21,873,000) $ (14,526,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 825,000 551,000
Stock option compensation expense 4,829,000 4,368,000
Stock issued to directors, employees and consultants 3,432,000 4,852,000
Stock issued for services 0 401,000
Change in operating assets and liabilities:    
Receivables (9,000) (79,000)
Prepaid expenses and other current assets 160,000 (287,000)
Other assets (4,000) (29,000)
Accounts payable and accrued expenses 2,819,000 (1,174,000)
Contingent consideration milestone (2,591,000) (3,898,000)
Deferred revenue (602,000) (602,000)
Net cash used in operating activities (13,014,000) (10,423,000)
Cash flows from investing activities:    
Capital expenditures (519,000) (308,000)
Cash from Abeona Ohio acquisition 0 3,697,000
Net cash provided by (used in) investing activities (519,000) 3,389,000
Cash flows from financing activities:    
Proceeds from $2.85 restricted common stock issuance 150,000 0
Proceeds from exercise of stock options 350,000 0
Proceeds from exercise of $5.00 warrants 0 4,635,000
Payment of short-term debt 0 (400,000)
Net cash provided by financing activities 42,537,000 35,652,000
Net increase in cash and cash equivalents 29,004,000 28,618,000
Cash and cash equivalents at beginning of year 40,138,000 11,520,000
Cash and cash equivalents at end of year 69,142,000 40,138,000
Supplemental cash flow information:    
Cash paid for interest 6,000 7,000
Supplemental disclosure of noncash transactions:    
Shares issued to holders of Abeona Ohio for acquisition 0 31,758,000
Contingent milestones to Abeona Ohio members 0 6,489,000
Licensed technology from Abeona Ohio 0 2,156,000
Shares issued to EB Research Partnership and Epidermolysis Bullosa Medical Research Foundation for licenses 2,452,000 0
$7.00 Common Stock Issuance [Member]    
Cash flows from financing activities:    
Proceeds from common stock issuances net of costs 41,068,000 0
$6.44 Common Stock Issuance [Member]    
Cash flows from financing activities:    
Proceeds from common stock issuances net of costs 969,000 0
$3.00 Common Stock Issuance [Member]    
Cash flows from financing activities:    
Proceeds from common stock issuances net of costs 0 7,001,000
$8.00 Common Stock Issuance [Member]    
Cash flows from financing activities:    
Proceeds from common stock issuances net of costs 0 9,005,000
$5.50 Common Stock Issuance [Member]    
Cash flows from financing activities:    
Proceeds from common stock issuances net of costs $ 0 $ 15,411,000