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, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:    
Net loss $ (36,367) $ (22,677)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,994 3,117
Issuance of common shares - Founders Agreement 815 0
Common shares issuable - Founders Agreement 1,748 2,296
Research and development-licenses acquired, expensed 0 400
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 485 (1,786)
Other receivables - related party (1,201) 490
Accounts payable and accrued expenses 6,721 2,699
Net cash used in operating activities (25,805) (15,461)
Cash Flows from Investing Activities:    
Purchase of research and development licenses 0 (400)
Net cash used in investing activities 0 (400)
Cash Flows from Financing Activities:    
Issuance of common shares - Public offering 23,012 0
Offering costs for the issuance of common shares - Public offering (2,184) 0
Issuance of common shares - At-the-market offering 7,981 0
Offering costs for the issuance of common shares - At-the-market offering (234) 0
Net cash provided by (used in) financing activities 28,575 0
Net increase (decrease) in cash and cash equivalents 2,770 (15,861)
Cash and cash equivalents at beginning of period 19,225 35,086
Cash and cash equivalents at end of period 21,995 19,225
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement $ 2,296 $ 3,919