Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income (loss) $ 8,883 $ (3,566)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 257 42
Change in fair value of warrant liability (1,530) 0
Stock-based compensation 641 682
Accounts receivable 1,066 0
Prepaid expenses and other current assets (252) 137
Accrued expenses (1,328) 1,848
Accounts payable 973 (88)
Accounts payable - related parties (75) (4)
Other current liabilities (33) (38)
Other non-current liabilities (28) 0
Accrued income taxes 238 0
Net cash provided by (used in) operating activities 8,812 (987)
Cash flows from investing activities:    
Purchase of intangible assets (2,000) 0
Purchase of property and equipment 0 (9)
Purchase of additional investment 0 (550)
Proceeds from investments 127 0
Net cash used in investing activities (1,873) (559)
Cash flows from financing activities:    
Proceeds from Common share offering, net of issuance costs 11,951 0
Redemption of Series A Preferred shares (13,777) (2,593)
Proceeds from exercise of stock options 229 111
Net cash provided by financing activities 12,778 7,008
Net increase in cash and cash equivalents 19,717 5,462
Cash and cash equivalents - beginning 13,678 6,101
Cash and cash equivalents - ending 33,395 11,563
Supplemental disclosures of cash flow information:    
Series A-1 warrant liability 3,313 0
Patent purchase in exchange for payable 6,500 0
Series A-1 preferred shares    
Cash flows from financing activities:    
Proceeds from sale of preferred shares, net of issuance costs 14,375 0
Supplemental disclosures of cash flow information:    
Accretion of series A and series A-1 preferred stock to redemption value 3,634 0
Series A preferred shares    
Cash flows from financing activities:    
Proceeds from sale of preferred shares, net of issuance costs 0 9,490
Supplemental disclosures of cash flow information:    
Accretion of series A and series A-1 preferred stock to redemption value $ 291 $ 6,789