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Going concern
3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going concern Going concern The accompanying consolidated financial statements are prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of the business. As of March 31, 2021, the Company had cash and cash equivalents of $102.2 million and an accumulated deficit of $228.4 million. During
the three months ended March 31, 2021, the Company incurred a net loss of $17.5 million and used $20.7 million of cash in operating activities. The Company expects to continue to generate operating losses for the foreseeable future. Until such time as the Company can generate substantial revenue and achieve profitability, the Company will need to raise additional capital.

On May 12, 2021, the Company closed its previously announced rights offering, which was fully subscribed. The Company received aggregate gross proceeds from the rights offering of $75.0 million from the sale of 14,312,976 shares of the Company’s common stock, par value $0.01, at a price per share of $5.24. In connection with the closing of the rights offering, the unsecured promissory note of $55.0 million received from Mr. Duggan on April 20, 2021, matured and became due, and the Company repaid all principal and accrued interest thereunder using a portion of the proceeds of the rights offering. The Company's existing cash resources, funding agreements, research and development tax credits receivable and the net proceeds of the rights offering, are expected to be sufficient to enable the Company to fund its current operating plans until the fourth quarter of 2022.

The Company continues to evaluate options to further finance its cash needs through a combination of some, or all, of the following: equity and debt offerings, collaborations, strategic alliances, grants and clinical trial support from government entities, philanthropic, non-government and not-for-profit organizations and patient advocacy groups, and marketing, distribution or licensing arrangements. While the Company believes that funds would be available in this manner before the fourth quarter of 2022, there can be no assurance that the Company will be able to generate funds, on terms acceptable to the Company, on a timely basis or at all, which would impact the Company’s ability to continue as a going concern.