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LEASES (Tables)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Maturity analysis of lease liabilities
At March 31, 2019, the Company's lease liabilities will mature as follows:
Year ended December 31,
Undiscounted Cash Flows
2019 (April to December)
$
948

2020
1,080

2021
939

2022
969

2023
998

Thereafter
3,082

Total undiscounted future lease payments
8,016

Discount
(1,749
)
Total lease liabilities
$
6,267

     Short-term lease liabilities
$
869

     Long-term lease liabilities
$
5,398

Quantitative disclosure of lease costs
 
Three Months Ended March 31,
 
2019
 
2018
Lease cost:
 
 
 
Operating lease cost
$
259

 
$
266

Short-term lease cost
146

 
118

Sublease income
(124
)
 
(119
)
Total lease cost, net
$
281

 
$
265

 
 
 
 
Other information:
 
 
 
Weighted-average remaining lease term (years)
7.2
 
7.4
Weighted-average discount rate
6.75%
 
6.75%
Impact of Topic 842 adoption on reported results
Adoption of the new lease standard impacted the Company's 2018 reported financial statements as follows:
 
Three Months Ended March 31, 2018
 
As Reported
 
New Lease Standard Adjustment
 
As Adjusted
Condensed Consolidated Statements of Income:
 
 
 
 
 
Revenue
$
60

 
$

 
$
60

Expenses
2,367

 
10

 
2,377

Other Income (expense)
17

 
8

 
25

Net loss
(2,290
)
 
(2
)
 
(2,292
)
Basic and diluted net loss per share
(0.24
)
 

 
(0.24
)
 
Year Ended December 31, 2018
 
As Reported
 
New Lease Standard Adjustment
 
As Adjusted
Condensed Consolidated Statements of Income:
 
 
 
 
 
Revenue
$
556

 
$

 
$
556

Expenses
9,830

 
45

 
9,875

Other Income (expense)
104

 
30

 
134

Net loss
(9,170
)
 
(15
)
 
(9,185
)
Basic and diluted net loss per share
(0.92
)
 

 
(0.92
)
 
March 31, 2018
 
As Reported
 
New Lease Standard Adjustment
 
As Adjusted
Condensed Consolidated Balance Sheet:
 
 
 
 
 
Current assets:
$
12,094

 
$

 
$
12,094

Restricted cash
317

 

 
317

Property and equipment, net
1,526

 

 
1,526

Right-of-use assets

 
5,294

 
5,294

Other assets
103

 

 
103

Total assets
$
14,040

 
$
5,294

 
$
19,334

 
 
 
 
 
 
Liabilities and Stockholders' Equity:
 
 
 
 
 
Accounts payable
$
80

 
$

 
$
80

Accrued expenses
1,352

 
(564
)
 
788

Short-term lease liabilities

 
684

 
684

Lease incentive obligation, net of current portion
973

 
(973
)
 

Long-term lease liabilities

 
6,149

 
6,149

Stockholders' equity
11,635

 
(2
)
 
11,633

Total liabilities and stockholders' equity
$
14,040

 
$
5,294

 
$
19,334

 
December 31, 2018
 
As Reported
 
New Lease Standard Adjustment
 
As Adjusted
Condensed Consolidated Balance Sheet:
 
 
 
 
 
Current assets:
$
6,377

 
$

 
$
6,377

Restricted cash
332

 

 
332

Property and equipment, net
1,385

 

 
1,385

Right-of-use assets

 
4,766

 
4,766

Other assets
100

 

 
100

Total assets
$
8,194

 
$
4,766

 
$
12,960

 
 
 
 
 
 
Liabilities and Stockholders' Equity:
 
 
 
 
 
Accounts payable
$
117

 
$

 
$
117

Accrued expenses
1,429

 
(749
)
 
680

Short-term lease liabilities

 
844

 
844

Lease incentive obligation, net of current portion
935

 
(935
)
 

Long-term lease liabilities

 
5,621

 
5,621

Stockholders' equity
5,713

 
(15
)
 
5,698

Total liabilities and stockholders' equity
$
8,194

 
$
4,766

 
$
12,960