Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
Jun. 30, 2018 |
Jun. 30, 2017 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ 10,044
|
$ 3,552
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Stock-based compensation expense |
225
|
45
|
| Depreciation and amortization |
33
|
23
|
| Change in fair value of warrant liability |
5,450
|
|
| Net amortization/accretion of premiums and discounts on short-term investments |
(121)
|
|
| Changes in operating assets and liabilities: |
|
|
| Research and development incentives receivable |
(438)
|
(468)
|
| Prepaid expenses and other current assets |
(220)
|
(1,256)
|
| Accounts payable |
(259)
|
381
|
| Accrued expenses and other current liabilities |
(1,479)
|
(660)
|
| Deferred rent |
(6)
|
(6)
|
| Net cash used in operating activities |
(6,859)
|
(5,493)
|
| Cash flows from investing activities: |
|
|
| Purchases of property, plant and equipment |
(116)
|
(33)
|
| Purchases of short-term investments |
(10,744)
|
|
| Sales and maturities of short-term investments |
15,750
|
|
| Net cash provided by (used in) investing activities |
4,890
|
(33)
|
| Cash flows from financing activities: |
|
|
| Payment of issuance costs |
(195)
|
|
| Net cash used in financing activities |
(195)
|
|
| Effect of exchange rate changes on cash and cash equivalents |
(731)
|
898
|
| Net decrease in cash |
(2,895)
|
(4,628)
|
| Cash, cash equivalents and restricted cash at beginning of period |
17,661
|
20,669
|
| Cash, cash equivalents and restricted cash at end of period |
14,766
|
$ 16,041
|
| Supplemental disclosure of non-cash investing and financing activities: |
|
|
| Deferred offering costs included in accounts payable |
1,149
|
|
| Purchases of property and equipment included in accounts payable |
$ 21
|
|