v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,106 $ 5,580
Accounts receivable, net 2,926 2,453
Inventory, net 1,985 2,153
Prepaid expenses and other current assets 296 735
Current assets of discontinued operations 464 857
Total current assets 7,777 11,778
Improvements and equipment, net 1,692 2,092
Intangible assets, net 23,202 26,604
Goodwill, net 11,959 11,959
Other assets 173 173
Assets of discontinued operations - noncurrent 0 1,893
Total assets 44,803 54,499
Current Liabilities:    
Accounts payable 1,603 2,614
Accrued expenses and other current liabilities 3,876 5,224
Contingent consideration, current 0 675
Senior secured term loan, net 10,736 11,541
Warrant liability 419 20
Current liabilities of discontinued operations 37 60
Total current liabilities 16,671 20,134
Contingent consideration, long-term 0 1,141
Deferred tax liability 758 749
Other long-term liabilities 316 385
Total liabilities 17,745 22,409
Commitments and Contingencies
Stockholders' Equity    
Preferred Stock, par value $0.001 per share, 1,000,000 shares authorized, no shares issued and outstanding 0 0
Common Stock, par value $0.001 per share, 95,000,000 shares authorized; 4,988,244 and 2,966,904 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively 5 3
Additional paid-in capital 165,256 156,390
Accumulated deficit (138,203) (124,303)
Total stockholders' equity 27,058 32,090
Total liabilities and stockholders' equity $ 44,803 $ 54,499

Source

v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue, net of returns, allowances and discounts $ 4,901 $ 4,375 $ 14,108 $ 11,851
Cost of revenues 1,538 1,608 4,765 4,493
Gross profit 3,363 2,767 9,343 7,358
Operating expenses        
Selling, general and administrative 7,004 8,458 21,729 27,019
Royalties 200 271 593 746
Research and product development 1 164 121 692
Milestone expense to licensor 0 1,000 0 1,000
Acquisition-related 0 715 635 819
Change in fair value of contingent consideration liability 0 97 35 (8,634)
Total operating expenses 7,205 10,705 23,113 21,642
Loss from operations (3,842) (7,938) (13,770) (14,284)
Other (expense) income        
Interest expense (577) (685) (1,746) (1,957)
Interest income 1 9 5 24
Change in fair value of warrant liability 35 135 404 797
Warrant modification expense 0 0 (803) 0
Loss on early extinguishment of debt, net (214) (373) (214) (373)
Other income 67 100 67 100
Total other expense (688) (814) (2,287) (1,409)
Loss from continuing operations before tax (4,530) (8,752) (16,057) (15,693)
Income tax expense (3) (3) (9) (9)
Loss from continuing operations (4,533) (8,755) (16,066) (15,702)
Discontinued operations:        
Income from discontinued operations, net of tax of $0 for the three and nine months ended September 30, 2017 and 2016 133 167 466 1,293
Gain on sale of assets, net of tax of $0 for the three and nine months ended September 30, 2017 and 2016 1,700 0 1,700 3,311
Income from discontinued operations, net of tax 1,833 167 2,166 4,604
Net loss $ (2,700) $ (8,588) $ (13,900) $ (11,098)
Net loss per basic and diluted common share:        
Loss from continuing operations $ (0.95) $ (3.11) $ (3.89) $ (5.63)
Income from discontinued operations 0.03 0.06 0.11 0.46
Gain on sale of assets 0.36 0 0.41 1.19
Total from discontinued operations 0.39 0.06 0.52 1.65
Net loss per basic and diluted common share $ (0.56) $ (3.05) $ (3.37) $ (3.98)
Weighted average shares used in computing net loss per basic and diluted common share 4,753,789 2,819,567 4,125,653 2,788,696

Source

v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating Activities    
Net loss $ (13,900) $ (11,098)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,111 3,124
Amortization of deferred lease incentive (34) (23)
Deferred income tax expense 9 9
Provision for doubtful accounts 169 37
Reserve for note receivable 350 0
Provision for excess and slow moving inventory 12 (54)
Stock-based compensation expense 1,604 4,268
Deferred rent 2 84
Accrued interest receivable 0 (3)
Amortization of debt issuance and discount costs 631 636
Loss on early extinguishment of debt 182 321
Warrant modification expense 803 0
Change in fair value of warrant liability (404) (797)
Fair value adjustment of contingent consideration liability 35 (8,634)
Gain on sale of assets (1,700) (3,311)
Changes in operating assets and liabilities:    
Accounts receivable (499) (254)
Inventory 414 (643)
Prepaid expenses and other assets 439 55
Accounts payable (1,023) (48)
Accrued expenses and other current liabilities (1,000) 1,297
Other long-term liabilities 0 1,000
Net Cash Used in Operating Activities (9,799) (14,034)
Investing Activities    
Proceeds from sale of assets 3,412 4,103
Purchase of improvements and equipment (126) (573)
Issuance of bridge loan (350) (500)
Net Cash Provided by Investing Activities 2,936 3,030
Financing Activities    
Contingent purchase price payments (675) (2,573)
Repayment of long-term debt (1,618) (1,748)
Loss on early extinguishment of debt (32) (52)
Net proceeds from issuance of common stock 5,865 0
Payment of withholding taxes related to stock-based employee compensation (151) (2)
Net Cash Provided by (Used in) Financing Activities 3,389 (4,375)
Net Decrease in Cash and Cash Equivalents (3,474) (15,379)
Cash and Cash Equivalents - Beginning of period 5,580 26,080
Cash and Cash Equivalents - End of period 2,106 10,701
Supplemental Disclosure of Cash Flows Information    
Interest 1,008 1,221
Non-cash investing and financing activities:    
2016 Accrued bonus awarded in equity 374 0
2015 Accrued bonus awarded in equity 0 474
Common stock issued for contingent purchase price payments $ 1,175 $ 2,574

Source