v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash $ 5,533,062 $ 4,048,131
Restricted cash 66,510 66,510
Accounts receivable 0 3,000,000
Prepaid expenses and other 285,005 1,224,009
Total current assets 5,884,577 8,338,650
Property and equipment, net 27,846 42,366
Goodwill 3,283,379 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 724,713 66,342
Total assets 19,163,643 20,973,865
Current liabilities:    
Accounts payable 786,779 1,006,903
Accrued expenses 1,135,653 838,888
Other current liabilities 21,234 20,205
Total current liabilities 1,943,666 1,865,996
Deferred tax liability 2,918,518 2,918,518
Other liabilities 0 19,876
Total liabilities 4,862,184 4,804,390
Stockholders' equity:    
Common stock, $0.001 par value; 45,454,546 shares authorized as of December 31, 2017 and December 31, 2016; 9,041,426 and 8,731,029 shares issued as of December 31, 2017 and December 31, 2016, respectively; 8,717,541 and 8,407,144 shares outstanding as of December 31, 2017 and December 31, 2016, respectively 9,040 8,730
Additional paid in capital 165,249,912 163,522,921
Accumulated deficit (145,933,137) (142,338,005)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 14,301,459 16,169,475
Total liabilities and stockholders' equity 19,163,643 20,973,865
Preferred Class A [Member]    
Stockholders' equity:    
Preferred stock 970 970
Preferred Class B [Member]    
Stockholders' equity:    
Preferred stock $ 2,120 $ 2,305

Source

v3.8.0.1
Consolidated Statements of Comprehensive Loss - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Revenue:    
Licenses $ 7,500,000 $ 0
Milestones 0 3,000,000
Collaboration services 85,000 0
Total revenues 7,585,000 3,000,000
Operating costs and expenses:    
Cost of research and development revenue (156,119) 0
Research and development (4,060,000) (43,737,814)
General and administrative (6,937,643) (6,692,786)
Loss from operations (3,568,762) (47,430,600)
Other income (expense):    
Change in fair value of derviative liability 0 2,125,113
Loss on issuance of hybrid debt instruments 0 (1,690,784)
Loss on conversion of debt 0 (6,394,921)
Other expense (41,096) (85,374)
Interest income 16,544 32
Interest expense (1,818) (729,572)
Total other expense (26,370) (6,775,506)
Net loss (3,595,132) (54,206,106)
Accretion of beneficial conversion feature on convertible preferred stock 0 (4,035,260)
Net loss applicable to common stockholders (3,595,132) (58,241,366)
Total comprehensive loss $ (3,595,132) $ (54,206,106)
Basic and diluted loss per share applicable to common stockholders $ (0.41) $ (7.84)
Weighted-average shares of common stock outstanding basic and diluted 8,665,763 7,430,574

Source

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,595,132) $ (54,206,106)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
In-process research and development expense 0 39,500,000
Depreciation 23,784 36,449
Amortization of hybrid debt instrument discount 0 544,480
Non-cash interest expense 0 174,519
Share-based payments 1,784,129 1,922,215
Change in value of warrants issued for services (126,316) 1,121,466
Vendor share-based payments 135,280 180,971
Change in fair value of derivative liability 0 (2,125,113)
Loss on issuance of hybrid debt instrument 0 1,690,784
Hybrid debt instrument issuance costs 0 (12,093)
Loss on conversion of debt 0 6,394,921
Settlement of accounts payable with common stock 0 243,667
Changes in operating assets and liabilities:    
Accounts receivable 3,000,000 (3,000,000)
Prepaid expenses and other assets 280,633 (234,924)
Accounts payable, accrued expenses and other liabilities (8,183) (1,018,411)
Net cash provided by (used in) operating activities 1,494,195 (8,787,175)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (9,264) (16,793)
Net cash used in investing activities (9,264) (16,793)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of debt 0 4,500,000
Payments on debt 0 (369,958)
Proceeds from issuance of units in offering 0 8,969,998
Payments on loan from related party 0 (380,170)
Net cash provided by financing activities 0 12,719,870
Net change in cash, excluding restricted cash 1,484,931 3,915,902
Cash at beginning of period 4,048,131 132,229
Cash at end of period 5,533,062 4,048,131
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 1,932 15,836
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Interest paid in common stock 0 255,607
Purchase of XBIO IPR&D with common stock 0 39,500,000
Issuance of note in settlement of deferred payroll costs 0 369,958
Reclassification of related party loan principal to accounts payable 0 14,830
Exchange of common stock for Series A preferred stock 0 970
Conversion of Series B preferred stock to common stock 185 119
Convertible debt paid in common stock 0 7,000,000
Convertible debt paid in public offering units 0 500,000
Issuance of warrants in connection with debt 0 2,107,836
Recording of derivative liability in connection with debt 0 4,120,359
Reclassification of common shares issuable to accounts payable 65,977 0
Issuance of common stock for promissory note converted $ 125 $ 0

Source