Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (25,908) $ (21,548)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share based compensation 1,839 1,537
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (18) 236
Deferred financing costs 61 0
Accounts payable and accrued expenses (2,760) 1,125
Accounts payable and accrued expenses - related party (473) 434
Licenses payable 1,000 0
Net cash used in operating activities (26,259) (18,216)
Cash flows from investing activities:    
Purchase of Short-term investments (certificates of deposit) (5,000) 0
Maturity of Short-term investments (certificates of deposit) 5,000 10,000
Net cash provided by investing activities 0 10,000
Cash flows from financing activities:    
Issuance of common shares 35,000 0
Offering costs (2,667) (895)
Net cash provided by (used in) financing activities 32,333 (895)
Net change in cash 6,074 (9,111)
Cash and cash equivalents, beginning of period 2,671 11,782
Cash and cash equivalents, end of period 8,745 2,671
Non-cash financing activities:    
Prior period financing costs 833 0
Unpaid deferred financing costs $ 0 $ 807