Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 18,750,000 $ 137,750,000
Short-term investments 66,218,000 0
Receivables 81,000 107,000
Prepaid expenses and other current assets 3,802,000 2,735,000
Total current assets 88,851,000 140,592,000
Property and equipment, net 9,443,000 1,374,000
Licensed technology, net 43,042,000 3,977,000
Goodwill 32,466,000 32,466,000
Other assets and restricted cash 597,000 357,000
Total assets 174,399,000 178,766,000
Current liabilities:    
Accounts payable 6,122,000 1,881,000
Accrued expenses 3,936,000 512,000
Current portion of payable to licensor 10,000,000 0
Current portion of deferred revenue 296,000 3,214,000
Total current liabilities 20,354,000 5,607,000
Payable to licensor, net of current portion 20,000,000 0
Deferred revenue, net of current portion 0 3,061,000
Total liabilities 40,354,000 8,668,000
Commitments and contingencies
Stockholders' equity:    
Common stock – $0.01 par value; authorized 200,000,000 shares; issued and outstanding 47,944,486 at December 31, 2018; issued and outstanding 46,888,108 at December 31, 2017 479,000 469,000
Additional paid-in capital 543,754,000 529,421,000
Accumulated deficit (410,188,000) (359,792,000)
Total stockholders' equity 134,045,000 170,098,000
Total liabilities and stockholders' equity $ 174,399,000 $ 178,766,000