Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (18,869,000) $ (14,871,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 595,000 577,000
Stock option compensation expense 3,527,000 3,894,000
Restricted common stock expense issued to directors, employees and consultants 979,000 3,120,000
Licensed technology (127,000) 0
Change in operating assets and liabilities:    
Receivables 13,000 (491,000)
Prepaid expenses and other current assets (1,607,000) 159,000
Other assets (11,000) (4,000)
Accounts payable (1,657,000) 1,038,000
Contingent consideration milestone 0 (2,591,000)
Deferred revenue (452,000) (452,000)
Net cash used in operating activities (17,609,000) (9,621,000)
Cash flows from investing activities:    
Capital expenditures (156,000) (501,000)
Net cash used in investing activities (156,000) (501,000)
Cash flows from financing activities:    
Proceeds from $2.85 restricted common stock issuance 0 150,000
Proceeds from an average of $6.44 per share of common stock issuances net of costs 0 1,019,000
Proceeds from exercise of stock options 93,000 0
Net cash provided by financing activities 5,145,000 1,169,000
Net decrease in cash and cash equivalents (12,620,000) (8,953,000)
Cash and cash equivalents at beginning of period 69,142,000 40,138,000
Cash and cash equivalents at end of period 56,522,000 31,185,000
Supplemental disclosure of noncash transactions:    
Licensed asset and corresponding liability 4,000,000 0
Shares issued to EB Research Partnership and Epidermolysis Bullosa Medical Research Foundation for licenses 0 2,452,000
Dollar Eight Warrant [Member]    
Cash flows from financing activities:    
Proceeds from Warrant Exercises 5,000,000 0
Dollar Five Warrant [Member]    
Cash flows from financing activities:    
Proceeds from Warrant Exercises $ 52,000 $ 0