Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net loss $ (28,868,000) $ (11,643,000)
Items not involving cash:    
Stock-based compensation 4,276,000 817,000
Shares issued to Aspire Capital as commitment fees 600,000
Depreciation and amortization 87,000 84,000
Unrealized foreign exchange loss 25,000 (25,000)
Change in non-cash operating working capital:    
Prepaid expenses (324,000) 70,000
Other assets (27,000) 27,000
Accounts payable 726,000 589,000
Accrued liabilities 298,000 (142,000)
Cash used in operating activities (23,207,000) (10,223,000)
Cash flows from financing activities:    
Offering costs paid (15) (307)
Exercise of stock options 240,000
Cash provided by financing activities 27,871,000 13,718,000
Cash flows from (used in) investing activities:    
Maturity (acquisition) of investments, net 341,000 (798,000)
Purchase of property and equipment (329,000) (13,000)
Cash provided by (used in) investing activities 12,000 (811,000)
Effect of exchange rate fluctuations on cash and cash equivalents held (8,000) 7,000
Increase in cash and cash equivalents 4,668,000 2,691,000
Cash and cash equivalents, beginning of year 10,631,000 7,940,000
Cash and cash equivalents, end of year 15,299,000 10,631,000
The 2018 ATM Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 10,720,000
ATM Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 13,525,000
The 2018 Purchase Agreement [Member]    
Cash flows from financing activities:    
Issuance of common shares 1,926,000
The 2017 Purchase Agreement [Member]    
Cash flows from financing activities:    
Issuance of common shares $ 15,000,000 $ 500,000