Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (13,526,000) $ (12,247,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 457,000 355,000
Stock option compensation expense 2,735,000 2,977,000
Restricted common stock expense issued to directors, employees and consultants 686,000 2,879,000
Licensed technology (127,000) 0
Change in operating assets and liabilities:    
Receivables 27,000 3,000
Prepaid expenses and other current assets (712,000) 109,000
Other assets 0 (46,000)
Accounts payable (77,000) 1,230,000
Contingent consideration liability 0 (591,000)
Deferred revenue (302,000) (301,000)
Net cash used in operating activities (10,839,000) (5,632,000)
Cash flows from investing activities:    
Capital expenditures (84,000) (353,000)
Net cash used in investing activities (84,000) (353,000)
Cash flows from financing activities:    
Proceeds from $2.85 restricted common stock issuance 0 150,000
Proceeds from exercise of stock options 85,000 0
Net cash provided by financing activities 85,000 150,000
Net decrease in cash and cash equivalents (10,838,000) (5,835,000)
Cash and cash equivalents at beginning of period 69,142,000 40,138,000
Cash and cash equivalents at end of period 58,304,000 34,303,000
Supplemental disclosure of noncash transactions:    
Licensed asset and corresponding liability $ 4,000,000 $ 0