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
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income (loss) $ 3,233 $ (3,806)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,728 1,416
Common stock contribution to 401(k) 102 20
Depreciation and amortization 6 8
Amortization of debt issuance costs, debt discount and final payment on debt 110  
Non-cash lease expense (40)  
Change in fair value of long-term equity securities (715)  
Other   (21)
Changes in assets and liabilities:    
Trade and other receivables (1,329) (39)
Prepaid expenses and other assets 42 53
Accounts payable and accrued liabilities (116) (1,593)
Unearned revenue recognized under units-of-revenue method (105) (62)
Income tax payable   29
Other liabilities 241 156
Net cash provided by (used in) operating activities 3,157 (3,839)
Cash flows from investing activities:    
Purchase of royalty rights in connection with Bioasis purchase agreement (300)  
Net cash used in investing activities (300)  
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs   2,309
Proceeds from exercise of options 237 14
Payment of preferred and common stock issuance costs (376)  
Principal payments – finance lease (3) (4)
Taxes paid related to net share settlement of equity awards (59) (3)
Net cash (used in) provided by financing activities (201) 2,316
Effect of exchange rate changes on cash   20
Net increase (decrease) in cash 2,656 (1,503)
Cash at the beginning of the period 45,780 [1] 43,471
Cash at the end of the period 48,436 41,968
Supplemental Cash Flow Information:    
Cash paid for interest 107  
Non-cash investing and financing activities:    
Prepaid financing cost related to issuance of common stock   $ 100
Issuance of common stock warrant under SVB loan 66  
Estimated fair value of contingent consideration under the Bioasis Royalty Purchase Agreement $ 75  
[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.