Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (8,169,000) $ (3,772,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 763,000 555,000
Amortization of discount on marketable securities (68,000)
Non-cash lease expense 36,000
Depreciation 16,000 10,000
Change in fair value of warrant liability 39,000
Changes in operating assets and liabilities:    
Amounts receivable 116,000 (963,000)
Prepaid expenses 280,000 (99,000)
Deposits (39,000)
Accounts payable (171,000) (264,000)
Accrued liabilities (1,000) 698,000
Net cash used in operating activities (7,237,000) (3,796,000)
Cash flows from investing activities:    
Purchase of marketable securities (10,928,000)
Maturities of marketable securities 6,000,000
Disposition of property and equipment, net 12,000
Purchase of property and equipment (63,000)
Net cash used in investing activities (4,916,000) (63,000)
Cash flows from financing activities:    
Proceeds from the exercise of stock options 75,000 43,000
Principal payments on finance lease obligations (4,000)
Proceeds from issuance of common shares and warrants, net of offering costs 5,840,000
Proceeds from the exercise of common share purchase warrants 521,000
Net cash provided by financing activities 71,000 6,404,000
Net increase (decrease) in cash and cash equivalents (12,082,000) 2,545,000
Cash and cash equivalents at beginning of period 16,823,000 1,353,000
Cash and cash equivalents at end of period $ 4,741,000 $ 3,898,000