$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (839) $ (5,753)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of Rezolute common stock shares received as consideration for license agreement   (955)
Stock-based compensation expense 2,739 2,186
Common stock contribution to 401(k) 102 20
Depreciation and amortization 12 15
Amortization of debt issuance costs, debt discount and final payment on debt 234 12
Loss on sublease   591
Non-cash lease expense (97)  
Change in fair value of long-term equity securities (746) 402
Other   (20)
Changes in assets and liabilities:    
Trade and other receivables (1,151) (83)
Prepaid expenses and other assets (368) (193)
Accounts payable and accrued liabilities 193 (2,421)
Unearned revenue recognized under units-of-revenue method (442) 25
Income tax payable   (1,637)
Other liabilities 427 623
Net cash provided by (used in) operating activities 64 (7,188)
Cash flows from investing activities:    
Payments related to purchase of royalty rights (6,300)  
Net cash used in investing activities (6,300)  
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 17 2,331
Proceeds from exercise of options 257 481
Proceeds from issuance of long-term debt 3,000  
Payment of preferred and common stock issuance costs (377)  
Debt issuance costs and loan fees   (181)
Principal payments – finance lease (7) (7)
Taxes paid related to net share settlement of equity awards (107) (237)
Net cash provided by financing activities 2,783 2,387
Effect of exchange rate changes on cash   20
Net decrease in cash (3,453) (4,781)
Cash at the beginning of the period 45,780 [1] 43,471
Cash at the end of the period 42,327 38,690
Supplemental Cash Flow Information:    
Cash paid for interest 217  
Cash paid for taxes   1,637
Non-cash investing and financing activities:    
Interest added to principal balance on long-term debt 376 281
Prepaid financing cost related to issuance of common stock   100
Issuance of common stock warrant under SVB loan 66 $ 139
Estimated fair value of contingent consideration under the royalty purchase agreements $ 3,075  
[1] The condensed consolidated balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements as of that date included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.