Condensed Consolidated Financial Statements Details (Tables)
|
9 Months Ended |
Sep. 30, 2023 |
|---|
| Condensed Consolidated Financial Statements Details |
|
| Schedule of cost, accumulated amortization, and net carrying value of intangible assets |
The following table summarizes cost, accumulated amortization, and net carrying value of the intangible assets as of September 30, 2023 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
Net Carrying |
|
|
Cost |
|
Amortization |
|
Value |
As of September 30, 2023 |
|
|
|
|
|
|
|
|
|
Ebopiprant IP (Note 4) |
|
$ |
15,247 |
|
$ |
770 |
|
$ |
14,477 |
Total intangible assets |
|
$ |
15,247 |
|
$ |
770 |
|
$ |
14,477 |
The following table summarizes cost, accumulated amortization, and net carrying value of the intangible assets as of December 31, 2022 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
Net Carrying |
|
|
Cost |
|
Amortization |
|
Value |
As of December 31, 2022 |
|
|
|
|
|
|
|
|
|
Ebopiprant IP (Note 4) |
|
$ |
15,247 |
|
$ |
97 |
|
$ |
15,150 |
Total intangible assets |
|
$ |
15,247 |
|
$ |
97 |
|
$ |
15,150 |
|
| Schedule of projected amortization expense for next five years |
The remaining life of the intangible assets is 16.2 years. The following table presents the projected amortization expense for the next five years (in thousands):
|
|
|
|
|
|
Intangible Asset |
|
|
Amortization |
|
|
|
|
2023 (excluding nine months ended September 30, 2023) |
|
$ |
224 |
2024 |
|
|
897 |
2025 |
|
|
897 |
2026 |
|
|
897 |
2027 |
|
|
897 |
Total |
|
$ |
3,812 |
|
| Schedule of accrued and other liabilities |
Accrued and other liabilities consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
|
2023 |
|
2022 |
Accrued payroll, severance and retention costs |
|
|
903 |
|
|
1,449 |
Accrued incentive compensation |
|
|
902 |
|
|
562 |
Accrued legal and accounting fees |
|
|
325 |
|
|
867 |
Other accrued liabilities |
|
|
30 |
|
|
40 |
Total |
|
$ |
2,160 |
|
$ |
2,918 |
|
| Schedule of reconciliation of numerator and denominator used in calculation of basic and diluted net (loss) per share available to common stockholders |
The following is a reconciliation of the numerator (net loss) and the denominator (number of shares) used in the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share amounts):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Numerator |
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(5,509) |
|
$ |
(4,178) |
|
$ |
(20,722) |
|
$ |
(11,128) |
Less: Series A accumulated dividends |
|
|
(530) |
|
|
(530) |
|
|
(1,591) |
|
|
(1,591) |
Less: Series B accumulated dividends |
|
|
(838) |
|
|
(838) |
|
|
(2,513) |
|
|
(2,513) |
Net loss attributable to common stockholders, basic and diluted |
|
|
(6,877) |
|
|
(5,546) |
|
$ |
(24,826) |
|
|
(15,232) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares used in computing basic and diluted net loss per share attributable to common stockholders |
|
|
11,473 |
|
|
11,447 |
|
|
11,466 |
|
|
11,400 |
Basic and diluted net loss per share attributable to common stockholders |
|
$ |
(0.60) |
|
|
(0.48) |
|
$ |
(2.17) |
|
$ |
(1.34) |
|
| Schedule of outstanding securities considered anti-dilutive |
The following table shows the weighted-average shares from outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net loss per share attributable to common stockholders (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Convertible preferred stock |
|
5,003 |
|
5,003 |
|
5,003 |
|
5,003 |
Common stock options |
|
1,804 |
|
888 |
|
1,781 |
|
831 |
Warrants for common stock |
|
6 |
|
6 |
|
6 |
|
6 |
Total |
|
6,813 |
|
5,897 |
|
6,790 |
|
5,840 |
|