Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2018 |
Jun. 30, 2017 |
| Operating Activities |
|
|
| Net loss |
$ (15,402)
|
$ (4,086)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Stock-based compensation expense |
514
|
58
|
| Stock-based consideration in connection with acquisition of product rights (Note 4) |
3,978
|
3,400
|
| Change in fair value of warrant liability |
303
|
86
|
| Changes in operating assets and liabilities: |
|
|
| Prepaid expenses and other current assets |
(752)
|
74
|
| Accounts payable |
428
|
89
|
| Accrued expenses |
(13)
|
(230)
|
| Net cash used in operating activities |
(10,944)
|
(609)
|
| Financing activities |
|
|
| Deferred financing costs related to initial public offering (completed in July 2018) |
(681)
|
|
| Proceeds from issuance of Series A Convertible Redeemable Preferred Stock, net |
|
26,714
|
| Proceeds from issuance of common stock |
|
1
|
| Net cash (used in) provided by financing activities |
(681)
|
26,715
|
| Net (decrease) increase in cash and cash equivalents |
(11,625)
|
26,106
|
| Cash and cash equivalents at beginning of period |
21,834
|
|
| Cash and cash equivalents at end of period |
10,209
|
26,106
|
| Supplemental disclosure of non-cash financing transactions: |
|
|
| Fair value of warrant issued in connection with Series A Convertible Redeemable Preferred Stock |
|
873
|
| Accretion of Series A Convertible Redeemable Preferred Stock |
$ (251)
|
$ (90)
|