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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Alliqua Biomedical, Inc. | NASDAQ:ALQA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.6867 | 2.61 | 2.65 | 0 | 01:00:00 |
|
Delaware
|
| |
2834
|
| |
58-2349413
|
|
|
(State or Other Jurisdiction of
Incorporation or Organization) |
| |
(Primary Standard Industrial
Classification Code Number) |
| |
(I.R.S. Employer
Identification No.) |
|
|
Large accelerated filer
☐
|
| |
Accelerated filer
☐
|
|
|
Non-accelerated filer
☒
|
| |
Smaller reporting company
☒
|
|
|
Emerging growth company
☐
|
| | | |
| | ||||||||||||
Title of Each Class of Securities to be Registered
|
| |
Proposed Maximum Aggregate
Offering Price (1) |
| |
Amount of
Registration Fee (1) |
| ||||||
Common stock, par value $0.001 per share
|
| | | $ | (2 ) | | | | | | | | |
Pre-funded warrants to purchase shares of common stock and common stock issuable upon exercise thereof
|
| | |
$
|
(3
)
|
| | | | | | | |
Total
|
| | | $ | 15,000,000 (4 ) | | | | | $ | 1,818 | | |
| | |
PER SHARE
|
| |
PER
PRE-FUNDED WARRANT |
| |
TOTAL
|
| |||||||||
Public offering price
|
| | | $ | | | | | $ | | | | | $ | | | |||
Underwriting discounts and commissions
(1)
|
| | | $ | | | | | | $ | | | | | | $ | | | |
Proceeds, before expenses, to us
|
| | | $ | | | | | | $ | | | | | | $ | | | |
| | |
Page
|
| |||
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| | | | 39 | | | |
| | | | 41 | | | |
| | | | 42 | | | |
| | | | 43 | | | |
Capitalization | | | | | 44 | | |
Dilution | | | | | 46 | | |
| | | | 48 | | | |
| | | | 49 | | | |
| | | | 62 | | | |
| | | | 91 | | | |
| | | | 96 | | | |
| | | | 100 | | | |
| | | | 104 | | | |
| | | | 107 | | | |
| | | | 110 | | | |
| | | | 114 | | | |
| | | | 116 | | | |
| | | | 121 | | | |
| | | | 130 | | | |
| | | | 130 | | | |
| | | | 130 | | | |
| | | | 131 | | | |
| | | | F-1 | | |
| | |
June 30, 2019
|
| |||||||||
| | |
Actual
|
| |
As
Adjusted (1) |
| ||||||
| | |
(unaudited)
(in thousands, except share data) |
| |||||||||
Cash and cash equivalents
|
| | | $ | 24 | | | | | $ | | | |
Convertible promissory notes
(2)
|
| | | $ | 5,497 | | | | | $ | — | | |
Term loan, net of discount
|
| | | $ | 2,390 | | | | | $ | | | |
Stockholders’ equity: | | | | | | | | | | | | | |
Common stock, $0.001 par value per share, 95,000,000 shares authorized,
actual and as adjusted; shares outstanding, actual; and shares outstanding, as adjusted |
| | | | 6 | | | | |||||
Additional paid-in capital
|
| | | | 35,160 | | | | | | | | |
Accumulated deficit
|
| | | | (44,417 ) | | | | | | | | |
Total stockholders’ equity (deficit)
|
| | | $ | (9,251 ) | | | | | $ | | | |
Total capitalization
|
| | | $ | (1,364 ) | | | | | $ | | | |
|
Assumed public offering price per share
|
| | | | | | | | | $ | | | |
|
Net tangible book value per share as of June 30, 2019
|
| | | $ | | | | | | | | | |
|
Increase in as adjusted net tangible book value per share attributable to new investors purchasing shares in this offering
|
| | | | | | | | | | | | |
|
As adjusted net tangible book value per share after this offering
|
| | | | | | | | | | | | |
|
Dilution in net tangible book value per share to new investors in this offering
|
| | | | | | | | | $ | | | |
| | |
Years Ended December 31,
|
| |
Six Months Ended June 30,
|
| ||||||||||||||||||
| | |
2017
|
| |
2018
|
| |
2018
|
| |
2019
|
| ||||||||||||
| | | | | | | | | | | | | | |
(unaudited)
|
| |||||||||
Direct research and development expenses by program: | | | | | | | | | | | | | | | | | | | | | | | | | |
ADYX-005 TKA
|
| | | $ | — | | | | | $ | 185 | | | | | $ | — | | | | | $ | 892 | | |
ADYX-004 TKA
|
| | | | 6,201 | | | | | | 95 | | | | | | 87 | | | | | | 2 | | |
AYX Platform
|
| | | | 607 | | | | | | 125 | | | | | | 57 | | | | | | 918 | | |
ADYX-006 Mastectomy
|
| | | | — | | | | | | 26 | | | | | | — | | | | | | 455 | | |
ADYX-003 TKA
|
| | | | 1 | | | | | | — | | | | | | — | | | | | | — | | |
twoXAR Platform
|
| | | | — | | | | | | — | | | | | | — | | | | | | 75 | | |
Internal research and development costs
|
| | | | 1,913 | | | | | | 1,706 | | | | | | 1,125 | | | | | | 884 | | |
Total research and development expenses
|
| | | $ | 8,722 | | | | | $ | 2,137 | | | | | $ | 1,269 | | | | | $ | 3,226 | | |
|
| | |
Six Months Ended June 30,
|
| | ||||||||||||||
| | |
2018
|
| |
2019
|
| |
Dollar Change
|
| |||||||||
| | |
(unaudited)
|
| | ||||||||||||||
Operating expenses: | | | | | | | | | | | | | | | | | | | |
Research and development
|
| | | $ | 1,269 | | | | | $ | 3,226 | | | | | $ | 1,957 | | |
General and administrative
|
| | | | 1,292 | | | | | | 2,317 | | | | | | 1,025 | | |
Grant reimbursements
|
| | | | — | | | | | | (1,198 ) | | | | | | (1,198 ) | | |
Total operating expenses, net
|
| | | | 2,561 | | | | | | 4,345 | | | | | | 1,784 | | |
Loss from operations
|
| | | | (2,561 ) | | | | | | (4,345 ) | | | | | | (1,784 ) | | |
Interest expense, net
|
| | | | (445 ) | | | | | | (2,641 ) | | | | | | (2,196 ) | | |
Other income (expense), net
|
| | | | 60 | | | | | | (94 ) | | | | | | (154 ) | | |
Loss from continuing operations
|
| | | | (2,946 ) | | | | | | (7,080 ) | | | | | | (4,134 ) | | |
Loss from discontinued operations
|
| | | | — | | | | | | (58 ) | | | | | | (58 ) | | |
Net loss
|
| | | $ | (2,946 ) | | | | | $ | (7,138 ) | | | | | $ | (4,192 ) | | |
| | |
Years Ended December 31,
|
| | ||||||||||||||
| | |
2017
|
| |
2018
|
| |
Dollar Change
|
| |||||||||
Operating expenses: | | | | | | | | | | | | | | | | | | | |
Research and development
|
| | | $ | 8,722 | | | | | $ | 2,137 | | | | | $ | (6,585 ) | | |
General and administrative
|
| | | | 2,341 | | | | | | 2,982 | | | | | | 641 | | |
Total operating expenses
|
| | | | 11,063 | | | | | | 5,119 | | | | | | (5,944 ) | | |
Loss from operations
|
| | | | (11,063 ) | | | | | | (5,119 ) | | | | | | 5,944 | | |
Interest expense, net
|
| | | | (515 ) | | | | | | (992 ) | | | | | | (477 ) | | |
Other income
|
| | | | 17 | | | | | | 126 | | | | | | 109 | | |
Net loss
|
| | | $ | (11,561 ) | | | | | $ | (5,985 ) | | | | | $ | 5,576 | | |
| | |
Years Ended
December 31, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2017
|
| |
2018
|
| |
2018
|
| |
2019
|
| ||||||||||||
| | | | | | | | | | | | | | |
(unaudited)
|
| |
(unaudited)
|
| ||||||
Net cash used in operating activities
|
| | | $ | (10,183 ) | | | | | $ | (6,019 ) | | | | | $ | (3,527 ) | | | | | $ | (4,223 ) | | |
Net cash used in investing activities
|
| | | | (3 ) | | | | | | (5 ) | | | | | | — | | | | | | — | | |
Net cash (used) provided by financing activities
|
| | | | (59 ) | | | | | | 3,610 | | | | | | 884 | | | | | $ | 2,559 | | |
Net decrease in cash and cash equivalents
|
| | | $ | (10,245 ) | | | | | $ | (2,414 ) | | | | | $ | (2,643 ) | | | | | $ | (1,664 ) | | |
| | |
Payments Due by Period
|
| |||||||||||||||||||||||||||
| | |
Total
|
| |
Less
Than 1 Year |
| |
1 – 3
Years |
| |
3 – 5
Years |
| |
More
Than 5 years |
| |||||||||||||||
Term loan and interest
(1)
|
| | | $ | 4,683 | | | | | $ | 4,683 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Convertible promissory notes and interest
(2)
|
| | | | 4,712 | | | | | | 4,712 | | | | | | — | | | | | | — | | | | | | — | | |
Operating lease commitments
(3)
|
| | | | 239 | | | | | | — | | | | | | 239 | | | | | | — | | | | | | — | | |
Total
|
| | | $ | 9,634 | | | | | $ | 9,395 | | | | | $ | 239 | | | | | $ | — | | | | | $ | — | | |
| | |
Payments Due by Period
|
| |||||||||||||||||||||||||||
| | |
Total
|
| |
Less
Than 1 Year |
| |
1 – 3
Years |
| |
3 – 5
Years |
| |
More
Than 5 years |
| |||||||||||||||
Term loan and interest
(1)
|
| | | $ | 3,135 | | | | | $ | 3,135 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Convertible promissory notes and interest
(2)
|
| | | | 5,941 | | | | | | 5,941 | | | | | | — | | | | | | — | | | | | | — | | |
Operating lease commitments
(3)
|
| | | | 1,006 | | | | | | 346 | | | | | | 463 | | | | | | 197 | | | | | | — | | |
Total
|
| | | $ | 10,082 | | | | | $ | 9,422 | | | | | $ | 463 | | | | | $ | 197 | | | | | $ | — | | |
Procedure classes
|
| |
Inpatient
Procedures HCUP NIS 2014 |
| |
ASC/Outpatient
Procedures HCUP SASD 2014 |
| |
Total
Procedures |
| |||||||||
TKA (incl. revisions)
|
| | | | 755,226 | | | | | | 83,255 | | | | | | 838,481 | | |
Lower extremity orthopedic surgeries
|
| | | | 742,295 | | | | | | 44,339 | | | | | | 786,634 | | |
Hip arthroplasty (incl. revisions and partial arthroplasties)
|
| | | | 521,080 | | | | | | 21,678 | | | | | | 542,758 | | |
Spine/Back
|
| | | | 844,161 | | | | | | 322,679 | | | | | | 1,166,840 | | |
Other orthopedic procedures
|
| | | | 1,390,091 | | | | | | 927,404 | | | | | | 2,317,495 | | |
Chest/lung/thoracotomy
|
| | | | 381,145 | | | | | | 50,901 | | | | | | 432,046 | | |
Breast procedures
|
| | | | 69,790 | | | | | | 817,511 | | | | | | 887,301 | | |
Abdominal
|
| | | | 527,410 | | | | | | 660,044 | | | | | | 1,187,454 | | |
Cardiac
|
| | | | 432,310 | | | | | | 43,527 | | | | | | 475,837 | | |
Genital/urinary
|
| | | | 471,050 | | | | | | 524,039 | | | | | | 995,089 | | |
Hernia
|
| | | | 166,885 | | | | | | 856,442 | | | | | | 1,023,327 | | |
Lower gastrointestinal
|
| | | | 612,310 | | | | | | 122,088 | | | | | | 734,398 | | |
OB/Gyn
|
| | | | 821,665 | | | | | | 828,702 | | | | | | 1,650,637 | | |
Upper gastrointestinal
|
| | | | 430,035 | | | | | | 92,784 | | | | | | 522,819 | | |
Vascular
|
| | | | 1,333,795 | | | | | | 338,927 | | | | | | 1,672,723 | | |
Other
|
| | | | — | | | | | | 829,343 | | | | | | 829,343 | | |
Total | | | | | 9,499,249 | | | | | | 6,563,663 | | | | | | 16,062,912 | | |
Study Number(s)
|
| |
Dose
|
| |
Number of Subjects Receiving
Dose |
|
ADYX-001
|
| |
1.25 mg/3 mL
|
| |
5
|
|
ADYX-001
|
| |
5 mg/3 mL
|
| |
5
|
|
ADYX-001
|
| |
20 mg/3 mL
|
| |
5
|
|
ADYX-001
|
| |
80 mg/3 mL
|
| |
5
|
|
ADYX-002
|
| |
110 mg/3 mL
|
| |
13
|
|
ADYX-001 and ADYX-002
|
| |
330 mg/3 mL
|
| |
46
|
|
ADYX-003 and ADYX-004
|
| |
660 mg/6 mL
|
| |
147
|
|
ADYX-003
|
| |
1,100 mg/10 mL
|
| |
38
|
|
|
Figure 2
ADYX-003 Least Squares Means Estimate for NRS Pain During the 5 and 15-Meter Walk Tests (Imputation Method 1, mITT Population) |
| |
Figure 3
ADYX-003 Least Squares Means Estimate for NRS Pain at Rest (mITT Population) |
|
|
|
| |
|
|
|
Imputation Method 1: If the walk test was not
completed due to pain or the entire distance was not completed due to pain, the worst possible pain score (10) was used. mITT: Modified intent to treat population |
| |
mITT: Modified intent to treat population
|
|
| | |
PCS Score ≥20
|
| |
PCS Score <20
|
| |
Overall
|
| |||||||||||||||||||||||||||
Endpoint Statistic
|
| |
Brivoligide
660 mg/6 mL (N=25) |
| |
Placebo
6 mL (N=27) |
| |
Brivoligide
660 mg/6 mL (N=82) |
| |
Placebo
6 mL (N=76) |
| |
Brivoligide
660 mg/6 mL (N=107) |
| |
Placebo
6 mL (N=103) |
| ||||||||||||||||||
N
|
| | | | 25 | | | | | | 27 | | | | | | 82 | | | | | | 76 | | | | | | 107 | | | | | | 103 | | |
N of Censored
|
| | | | 4 | | | | | | 4 | | | | | | 18 | | | | | | 13 | | | | | | 22 | | | | | | 17 | | |
Days to NRS pain score ≤3 for derived
worst pain |
| | | | | | | ||||||||||||||||||||||||||||||
25
th
Percentile
|
| | | | 8.0 | | | | | | 24.0 | | | | | | 14.0 | | | | | | 13.0 | | | | | | 13.0 | | | | | | 14.0 | | |
Median
|
| | | | 15.0 | | | | | | 41.0 | | | | | | 31.0 | | | | | | 29.0 | | | | | | 27.0 | | | | | | 31.0 | | |
75
th
Percentile
|
| | | | 47.0 | | | | | | 70.0 | | | | | | 62.0 | | | | | | 48.0 | | | | | | 59.0 | | | | | | 62.0 | | |
P-value
|
| | | | 0.184 | | | | | | 0.432 | | | | | | 0.542 | | | | | |
| | |
PCS Score ≥20
|
| |
PCS Score <20
|
| |
Overall
|
| |||||||||||||||||||||||||||
Postoperative Duration Statistic
|
| |
Brivoligide
660 mg/6 mL (N=25) |
| |
Placebo
6 mL (N=27) |
| |
Brivoligide
660 mg/6 mL (N=82) |
| |
Placebo
6 mL (N=75) |
| |
Brivoligide
660 mg/6 mL (N=107) |
| |
Placebo
6 mL (N=102) |
| ||||||||||||||||||
48 Hours to Day 90 (with imputation)
(1)
|
| | | | | | | ||||||||||||||||||||||||||||||
N
|
| | | | 25 | | | | | | 27 | | | | | | 82 | | | | | | 75 | | | | | | 107 | | | | | | 102 | | |
Mean (SD)
|
| |
225.16 (235.911)
|
| |
371.39 (340.927)
|
| |
376.08 (463.543)
|
| |
317.20 (291.180)
|
| |
340.82 (425.338)
|
| |
331.54 (304.333)
|
| ||||||||||||||||||
Median
|
| | | | 172.50 | | | | | | 228.75 | | | | | | 189.58 | | | | | | 212.92 | | | | | | 176.25 | | | | | | 220.21 | | |
(Min, Max)
|
| |
(5.2, 1148.2)
|
| |
(22.5, 1202.5)
|
| |
(0.0, 2431.7)
|
| |
(1.7, 1138.8)
|
| |
(0.0, 2431.7)
|
| |
(1.7, 1202.5)
|
| ||||||||||||||||||
P-value | | | | | | | | | | | 0.105 | | | | | | | | | | | | 0.915 | | | | | | | | | | | | 0.366 | | |
48 Hours to Day 90 (no imputation)
|
| | | | | | | ||||||||||||||||||||||||||||||
N
|
| | | | 25 | | | | | | 27 | | | | | | 82 | | | | | | 75 | | | | | | 107 | | | | | | 102 | | |
Mean (SD)
|
| |
213.66 (229.409)
|
| |
352.17 (329.340)
|
| |
355.79 (440.461)
|
| |
305.66 (281.431)
|
| |
322.58 (404.743)
|
| |
317.97 (293.900)
|
| ||||||||||||||||||
Median
|
| | | | 150.00 | | | | | | 228.75 | | | | | | 181.25 | | | | | | 182.50 | | | | | | 170.83 | | | | | | 213.13 | | |
(Min, Max)
|
| |
(5.2,1118.2)
|
| |
(22.5, 1202.5)
|
| |
(0.0,2375.4)
|
| |
(1.7,1135.1)
|
| |
(0.0,2375.4)
|
| |
(1.7,1202.5)
|
| ||||||||||||||||||
P-value
|
| | | | | | | | | | 0.115 | | | | | | | | | | | | 0.936 | | | | | | | | | | | | 0.391 | | |
Visit Mixed Effects Results
(1)
|
| |
Brivoligide
660 mg/6 mL |
| |
Difference
Brivoligide – Placebo |
| |
Placebo
6 mL |
|
PCS < 20
|
| |
79
|
| | | | |
72
|
|
Day 7 to Day 28 (Overall Treatment Effect) | | | | | | | ||||
LS mean (95% CI)
|
| |
2.73
(1.29, 3.16) |
| | | | |
2.56
(2.10, 3.01) |
|
Difference in LS means
|
| | | | |
0.17
|
| | ||
95% CI for Difference
|
| | | | |
-0.46, 0.80
|
| | ||
P-value
|
| | | | |
0.595
|
| | ||
PCS ≥ 20
|
| |
24
|
| | | | |
26
|
|
Day 7 to Day 28 (Overall Treatment Effect) | | | | | ||||||
LS mean (95% CI)
|
| |
2.61
(1.82, 3.40) |
| | | | |
3.52
(2.76, 4.29) |
|
Difference in LS means
|
| | | | |
-0.91
|
| | ||
95% CI for Difference
|
| | | | |
-2.01, 0.19
|
| | ||
P-value
|
| | | | |
0.106
|
| | ||
PCS ≥ 16
|
| |
30
|
| | | | |
33
|
|
Day 7 to Day 28 (Overall Treatment Effect) | | | | | ||||||
LS mean (95% CI)
|
| |
2.53
(1.83, 3.23) |
| | | | |
3.61
(2.94, 4.28) |
|
Difference in LS means
|
| | | | |
-1.08
|
| | ||
95% CI for Difference
|
| | | | |
-2.05, -0.11
|
| | ||
P-value
|
| | | | |
0.029
|
| |
|
Figure 5
Combined ADYX-003 and ADYX-004 NRS during the 5 and 15-Meter Walk Test for Subjects with PCS≥16 |
| |
Figure 6
Combined ADYX-003 and ADYX-004 NRS at Rest for Subjects with PCS≥16 |
|
|
|
| |
|
|
Name
|
| |
Age
|
| |
Position(s)
|
|
Executive Officers | | | | ||||
Rick Orr
|
| | 58 | | | President, Chief Executive Officer and Director | |
Julien Mamet, Ph.D.
|
| | 43 | | | Chief Scientific Officer and Director | |
Donald Manning, M.D., Ph.D.
|
| | 60 | | | Chief Medical Officer | |
Non-Employee Directors | | | | ||||
Dennis Podlesak
(1)(2)(3)
|
| | 61 | | | Chairperson | |
Eckard Weber, M.D.
(2)
|
| | 68 | | | Director | |
Stan Abel
(1)(3)
|
| | 53 | | | Director | |
Gregory J. Flesher
|
| | 49 | | | Director | |
Matthew Ruth
(1)
|
| | 49 | | | Director | |
Name and Principal Position
|
| |
Year
|
| |
Salary
|
| |
All Other
Compensation |
| |
Total
|
| ||||||||||||
Rick Orr
President and Chief Executive Officer |
| | | | 2018 | | | | | $ | 435,663 | | | | | $ | 37,926 (1 ) | | | | | $ | 473,589 | | |
Julien Mamet, Ph.D.
Chief Scientific Officer |
| | | | 2018 | | | | | | 340,540 | | | | | | 37,926 (1 ) | | | | | | 378,466 | | |
Donald Manning, M.D., Ph.D.
Chief Medical Officer |
| | | | 2018 | | | | | | 360,149 | | | | | | 37,926 (1 ) | | | | | | 398,075 | | |
| | |
Option Awards
|
| |||||||||||||||||||||
| | |
Number of Securities
Underlying Unexercised Options (#) |
| |
Option
Exercise Price |
| |
Option
Expiration Date |
| |||||||||||||||
Name
|
| |
Exercisable
(1)
|
| |
Unexercisable
|
| ||||||||||||||||||
Rick Orr
|
| | | | 660 (6) | | | | | | — | | | | | $ | 1.39 | | | | | | 12/17/2022 | | |
| | | | | 95,416 (2)(5) | | | | | | — | | | | | | 3.06 | | | | | | 12/15/2026 | | |
Julien Mamet, Ph.D.
|
| | | | 33 (6) | | | | | | — | | | | | | 1.39 | | | | | | 12/17/2022 | | |
| | | | | 158,148 (3)(5) | | | | | | — | | | | | | 3.06 | | | | | | 12/15/2026 | | |
Donald Manning, M.D., Ph.D.
|
| | | | 23,857 (6) | | | | | | — | | | | | | 1.11 | | | | | | 3/7/2022 | | |
| | | | | 7,886 (6) | | | | | | — | | | | | | 1.39 | | | | | | 7/16/2022 | | |
| | | | | 3,943 (6) | | | | | | — | | | | | | 1.39 | | | | | | 12/17/2022 | | |
| | | | | 56,406 (4)(5) | | | | | | — | | | | | | 3.06 | | | | | | 12/15/2026 | | |
| | |
Fees Earned or
Paid in Cash |
| |
Total
|
| ||||||
Dennis Podlesak
(1)
|
| | | $ | 120,000 | | | | | $ | 120,000 | | |
Eckard Weber
(2)
|
| | | | 120,000 | | | | | | 120,000 | | |
Stan Abel
(3)
|
| | | | 72,000 | | | | | | 72,000 | | |
Name and Principal Position
|
| |
Year
|
| |
Salary
|
| |
Bonus
|
| |
Stock
Awards (1) |
| |
All Other
Compensation |
| |
Total
|
| ||||||||||||||||||
David Johnson
(6)
Former President and Chief Executive Officer |
| | | | 2018 | | | | | $ | 350,000 | | | | | $ | — | | | | | $ | 279,400 | | | | | $ | 11,400 (3) | | | | | $ | 640,800 | | |
| | | 2017 | | | | | | 350,000 | | | | | | 276,500 (2) | | | | | | 274,000 | | | | | | 11,400 (3) | | | | | | 911,900 | | | ||
Bradford Barton
(6)
Former Chief Operating Officer |
| | | | 2018 | | | | | | 87,040 | | | | | | — | | | | | | 53,301 | | | | | | 263,730 (5) | | | | | | 404,071 | | |
| | | 2017 | | | | | | 246,800 | | | | | | 118,310 (2) | | | | | | 103,829 | | | | | | 8,400 (4) | | | | | | 477,339 | | | ||
Pellegrino Pionati
(6)
Former Chief Operating Officer |
| | | | 2018 | | | | | | 87,040 | | | | | | — | | | | | | 54,970 | | | | | | 263,730 (5) | | | | | | 405,740 | | |
| | | 2017 | | | | | | 246,800 | | | | | | 118,310 (2) | | | | | | 103,829 | | | | | | 8,400 (4) | | | | | | 477,339 | | | ||
Joseph Warusz
(6)
Former Chief Financial Officer, Treasurer and Secretary |
| | | | 2018 | | | | | | 281,960 | | | | | | — | | | | | | — | | | | | | — | | | | | | 281,960 | | |
| | | 2017 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
Option Awards
|
| |||||||||||||||||||||
| | |
Number of Securities Underlying
Unexercised Options (#) |
| |
Option
Exercise Price |
| |
Option
Expiration Date |
| |||||||||||||||
Name
|
| |
Exercisable
|
| |
Unexercisable
|
| ||||||||||||||||||
David Johnson
|
| | | | 986 | | | | | | — | | | | | $ | 262.30 | | | | | | 11/29/2022 | | |
| | | | | 986 | | | | | | — | | | | | | 393.60 | | | | | | 11/29/2022 | | |
| | | | | 986 | | | | | | — | | | | | | 525.00 | | | | | | 11/29/2022 | | |
| | | | | 4,653 | | | | | | — | | | | | | 196.80 | | | | | | 2/4/2023 | | |
| | | | | 1,952 | | | | | | — | | | | | | 210.00 | | | | | | 11/14/2023 | | |
| | | | | 12,176 | | | | | | — | | | | | | 409.20 | | | | | | 12/20/2023 | | |
| | | | | 1,917 | | | | | | — | | | | | | 373.80 | | | | | | 2/6/2025 | | |
Bradford Barton
|
| | | | 914 | | | | | | — | | | | | | 262.80 | | | | | | 5/10/2023 | | |
| | | | | 914 | | | | | | — | | | | | | 328.20 | | | | | | 5/10/2023 | | |
| | | | | 914 | | | | | | — | | | | | | 393.60 | | | | | | 5/10/2023 | | |
| | | | | 914 | | | | | | — | | | | | | 525.00 | | | | | | 5/10/2023 | | |
| | | | | 914 | | | | | | — | | | | | | 656.40 | | | | | | 5/10/2023 | | |
| | | | | 1,167 | | | | | | — | | | | | | 540.00 | | | | | | 3/6/2024 | | |
| | | | | 1,917 | | | | | | — | | | | | | 373.80 | | | | | | 2/6/2025 | | |
Pellegrino Pionati
|
| | | | 1,667 | | | | | | — | | | | | | 315.00 | | | | | | 6/15/2025 | | |
Joseph Warusz
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
Fees Earned or
Paid in Cash |
| |
Total
|
| ||||||
Joseph Leone
|
| | | $ | 33,750 | | | | | $ | 33,750 | | |
Gary Restani
|
| | | | 32,626 | | | | | | 32,626 | | |
Jeffrey Sklar
|
| | | | 34,500 | | | | | | 34,500 | | |
Mark Wagner
|
| | | | 27,750 | | | | | | 27,750 | | |
Purchaser
|
| |
Aggregate Principal Amount
|
| |||
Entities affiliated with Domain Associates LLC
(1)
|
| | | $ | 2,350,000 | | |
TPG Biotechnology Partners IV, L.P.
|
| | | $ | 650,000 | | |
Purchaser
|
| |
Aggregate Principal Amount
|
| |||
Entities affiliated with Domain Associates LLC
(1)
|
| | | $ | 6,100,000 | | |
| | |
Shares Beneficially
Owned Prior to this Offering |
| |
Shares Beneficially
Owned Following this Offering |
| |||||||||||||||
Name of Beneficial Owner
|
| |
Shares
|
| |
%
|
| |
Shares
|
| |
%
|
| |||||||||
5% Shareholder | | | | | | | | | | | | | | | | | | |||||
Entities Affiliated with Domain Associates
(1)
|
| | | | 3,058,571 | | | | | | 52.7 % | | | |
|
| | | | % | | |
TPG Biotechnology Partners IV, L.P.
(2)
|
| | | | 1,112,290 | | | | | | 19.2 | | | | | | | |||||
Executive Officers and Directors | | | | | | | | | | | | | | | | | | |||||
Rick Orr
(3)
|
| | | | 238,166 | | | | | | 4.0 | | | | | | | |||||
Donald Manning, M.D., Ph.D.
(4)
|
| | | | 92,092 | | | | | | 1.6 | | | | | | | |||||
Julien Mamet, Ph.D.
(5)
|
| | | | 398,635 | | | | | | 6.7 | | | | | | | |||||
Dennis Podlesak
(6)
|
| | | | 141,529 | | | | | | 2.4 | | | | | | | |||||
Eckard Weber
(7)
|
| | | | 141,529 | | | | | | 2.4 | | | | | | | |||||
Stan Abel
(8)
|
| | | | 82,254 | | | | | | 1.4 | | | | | | | |||||
Gregory Flesher
|
| | | | — | | | | | | * | | | | | | | | | | | |
Matthew Ruth
|
| | | | — | | | | | | * | | | | | | | |||||
All current executive officers and directors as a group (8 persons)
(9)
|
| | | | 1,094,205 | | | | | | 17.4 | | | | | | |
| | | | | | | | | | | | | | |
Total
|
| |||||||||
| | |
Per Share
|
| |
Per
Pre-Funded Warrant |
| |
No Exercise
|
| |
Full Exercise
|
| ||||||||||||
Public offering price
|
| | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||
Underwriting discounts and commissions payable by us
|
| | | $ | | | | | | $ | | | | | | $ | | | | | | $ | | | |
Proceeds to us, before expenses
|
| | | $ | | | | | | $ | | | | | | $ | | | | | | $ | | | |
| | |
Adynxx, Inc.
(Accounting Acquirer) Historical |
| |
Alliqua
BioMedical, Inc. (Accounting Acquiree) |
| |
AquaMed
Spin-off |
| |
Adynxx
Transactions |
| |
Total Pro
Forma Adjustments |
| |
Notes
|
| |
Pro Forma
Combined |
| ||||||||||||||||||
Revenue, net
|
| | | $ | — | | | | | $ | 129 | | | | | $ | (129 ) | | | | | | — | | | | | $ | (129 ) | | | |
(n)
|
| | | $ | — | | |
Cost of revenues
|
| | | | — | | | | | | 237 | | | | | | (237 ) | | | | | | — | | | | | | (237 ) | | | |
(n)
|
| | | | — | | |
Gross loss
|
| | | | — | | | | | | (108 ) | | | | | | 108 | | | | | | — | | | | | | 108 | | | | | | | | | — | | |
Operating expenses: | | | | | | | | | ||||||||||||||||||||||||||||||||
Selling, general and administrative
|
| | | | 863 | | | | | | 605 | | | | | | (504 ) | | | | | | | | | | | | (504 ) | | | |
(n)
|
| | | | 964 | | |
Research and product development
|
| | | | 1,331 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | | | 1,331 | | |
Grant reimbursement
|
| | | | (94 ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (94 ) | | |
Acquisition related expenses
|
| | | | — | | | | | | 270 | | | | | | | | | | | | (270 ) | | | | | | (270 ) | | | |
(p)
|
| | | | — | | |
Total operating expenses
|
| | | | 2,100 | | | | | | 875 | | | | | | (504 ) | | | | | | (270 ) | | | | | | (774 ) | | | | | | | | | 2,201 | | |
Loss from operations
|
| | | | (2,100 ) | | | | | | (983 ) | | | | | | 612 | | | | | | 270 | | | | | | 882 | | | | | | | | | (2,201 ) | | |
Interest and other income (expense): | | | | | | | | | ||||||||||||||||||||||||||||||||
Interest income (expense)
|
| | | | (268 ) | | | | | | 12 | | | | | | — | | | | | | 59 | | | | | | 59 | | | |
(q)
|
| | | | (197 ) | | |
Change in fair value of warrant liability
|
| | | | (94 ) | | | | | | (135 ) | | | | | | — | | | | | | 94 | | | | | | 94 | | | | | | | | | (135 ) | | |
Loss from continuing operations
|
| | | $ | (2,462 ) | | | | | $ | (1,106 ) | | | | | $ | 612 | | | | | $ | 423 | | | | | $ | 1,035 | | | | | | | | $ | (2,533 ) | | |
Net loss per share basic and diluted common share
|
| | | | | | | | ||||||||||||||||||||||||||||||||
Loss from continuing operations
|
| | | | | | | | | $ | (1.33 ) | | | | | | | | | | | | | | | | | | | | | | | | | | $ | (0.44 ) | | |
Pro forma weighted average shares outstanding used in computing basic and diluted net loss per common share
|
| | | | | | | | | | 830,820 | | | | | | | | | | | | | | | | | | 4,987,870 | | | |
(s)
|
| | | | 5,818,690 | | |
Reconciliation of pro forma weighted average shares outstanding:
|
| | | | | | | | ||||||||||||||||||||||||||||||||
Weighted average number of shares held by Adynxx shareholders pre-merger
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(r)
|
| | | | 136,866,375 | | |
Conversion ratio
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(r)
|
| | | | 0.0364 | | |
Weighted average number of shares held by Adynxx shareholders post-merger
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,987,870 | | |
Weighted average number of shares held by Alliqua shareholders
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(r)
|
| | | | 830,820 | | |
Total pro forma weighted average shares outstanding
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,818,690 | | |
|
| | |
Adynxx, Inc.
(Accounting Acquirer) Historical |
| |
Alliqua
BioMedical, Inc. (Accounting Acquiree) |
| |
AquaMed
Spin-Off |
| |
Adynxx
Transactions |
| |
Total Pro
Forma Adjustments |
| |
Notes
|
| |
Pro Forma
Combined |
| ||||||||||||||||||
Revenue, net
|
| | | $ | — | | | | | $ | 2,216 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | | | | $ | — | | |
| | | | | — | | | | | | — | | | | | | (2,216 ) | | | | | | — | | | | | | (2,216 ) | | | |
(n)
|
| | | | — | | |
Cost of revenues
|
| | | | — | | | | | | 1,720 | | | | | | — | | | | | | — | | | | | | — | | | | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | (1,720 ) | | | | | | — | | | | | | (1,720 ) | | | |
(n)
|
| | | | — | | |
Gross profit
|
| | | | — | | | | | | 496 | | | | | | (496 ) | | | | | | — | | | | | | (496 ) | | | | | | | | | — | | |
Operating expenses: | | | | | | | | | ||||||||||||||||||||||||||||||||
Selling, general and administrative
|
| | | | 2,982 | | | | | | 4,778 | | | | | | — | | | | | | | | | | | | — | | | | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | (2,502 ) | | | | | | — | | | | | | (2,502 ) | | | |
(n)
|
| | | | 5,258 | | |
Acquisition related expenses
|
| | | | — | | | | | | 1,014 | | | | | | — | | | | | | (1,014 ) | | | | | | (1,014 ) | | | |
(p)
|
| | | | — | | |
Research and development
|
| | | | 2,137 | | | | | | — | | | | | | | | | | | | — | | | | | | — | | | | | | | | | 2,137 | | |
Total operating expenses
|
| | | | 5,119 | | | | | | 5,792 | | | | | | (2,502 ) | | | | | | (1,014 ) | | | | | | (3,516 ) | | | | | | | | | 7,395 | | |
Loss from operations
|
| | | | (5,119 ) | | | | | | (5,296 ) | | | | | | 2,006 | | | | | | 1,014 | | | | | | 3,020 | | | | | | | | | (7,395 ) | | |
Interest and other income (expenses): | | | | | | | | | ||||||||||||||||||||||||||||||||
Interest income (expense)
|
| | | | (980 ) | | | | | | 24 | | | | | | — | | | | | | 334 | | | | | | 334 | | | |
(q)
|
| | | | (622 ) | | |
Change in fair value of warrant liability
|
| | | | (97 ) | | | | | | (26 ) | | | | | | — | | | | | | — | | | | | | — | | | | | |||||||
| | | | | — | | | | | | — | | | | | | — | | | | | | 97 | | | | | | 97 | | | |
(o)
|
| | | | (26 ) | | |
Change in fair value of derivative liability
|
| | | | 211 | | | | | | — | | | | | | — | | | | | | (211 ) | | | | | | (211 ) | | | |
(q)
|
| | | | — | | |
Loss on early extinguishment of debt, net
|
| | | | — | | | | | | (1,706 ) | | | | | | — | | | | | | — | | | | | | — | | | | | | | | | (1,706 ) | | |
Net loss from continuing operations
|
| | | $ | (5,985 ) | | | | | $ | (7,004 ) | | | | | $ | 2,006 | | | | | $ | 1,234 | | | | | $ | 3,240 | | | | | | | | $ | (9,749 ) | | |
Net loss per share basic and diluted common share
|
| | | | | | | | ||||||||||||||||||||||||||||||||
Loss from continuing operations
|
| | | | | | | | | $ | (8.54 ) | | | | | | | | | | | | | | | | | | | | | | | | | | $ | (1.68 ) | | |
Pro forma weighted average shares outstanding used in computing basic and diluted net loss per common share
|
| | | | | | | | | | 820,565 | | | | | | | | | | | | | | | | | | 4,987,870 | | | |
(s)
|
| | | | 5,808,435 | | |
Reconciliation of pro forma weighted average shares outstanding:
|
| | | | | | | | ||||||||||||||||||||||||||||||||
Weighted average number of shares held by Adynxx shareholders pre-merger
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 136,866,375 | | |
Conversion ratio
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(r)
|
| | | | 0.0364 | | |
Weighted average number of shares held by Adynxx shareholders post-merger
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,987,870 | | |
Weighted average number of shares held by Alliqua shareholders
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(r)
|
| | | | 820,565 | | |
Total pro forma weighted average shares outstanding
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,808,435 | | |
|
| | |
Page
|
| |||
Audited Consolidated Financial Statements for the Years Ended December 31, 2017 and 2018 | | | | | | | |
| | | | F-2 | | | |
Financial Statements: | | | | | | | |
| | | | F-3 | | | |
| | | | F-4 | | | |
| | | | F-5 | | | |
| | | | F-6 | | | |
| | | | F-7 | | | |
Unaudited Condensed Consolidated Financial Statements for the Six Months Ended June 30, 2018 and 2019
|
| | | | | | |
Condensed Consolidated Financial Statements: | | | | | | | |
| | | | F-27 | | | |
| | | | F-28 | | | |
| | | | F-29 | | | |
| | | | F-30 | | | |
| | | | F-31 | | |
| | |
December 31,
|
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
| | | | | | | | | | | | | |
Assets: | | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 4,301 | | | | | $ | 1,887 | | |
Restricted cash
|
| | | | — | | | | | | 55 | | |
Prepaid expenses and other current assets
|
| | | | 34 | | | | | | 10 | | |
Total current assets
|
| | | | 4,335 | | | | | | 1,952 | | |
Property and equipment, net
|
| | | | 13 | | | | | | 10 | | |
Restricted cash
|
| | | | 55 | | | | | | — | | |
Other assets
|
| | | | 18 | | | | | | 18 | | |
Total assets
|
| | | $ | 4,421 | | | | | $ | 1,980 | | |
Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Deficit: | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | |
Accounts payable
|
| | | $ | 703 | | | | | $ | 491 | | |
Accrued liabilities
|
| | | | 1,158 | | | | | | 857 | | |
Operating lease liability
|
| | | | — | | | | | | — | | |
Convertible promissory notes – related party
|
| | | | — | | | | | | 4,500 | | |
Current portion of term loan, net of discount
|
| | | | 1,711 | | | | | | 3,812 | | |
Total current Liabilities
|
| | | | 3,572 | | | | | | 9,660 | | |
Term loan, net of current portion and discount
|
| | | | 2,951 | | | | | | — | | |
Warrant liability
|
| | | | 42 | | | | | | 140 | | |
Commitments and contingencies (Note 6) | | | | | | | | | | | | | |
Redeemable convertible preferred stock: | | | | | | | | | | | | | |
Series A redeemable convertible preferred stock, $0.001 par value; 57,002,183 shares authorized; 56,672,658 shares issued and outstanding as of December 31, 2017 and 2018 (liquidation value of $12,898,697 as of December 31, 2017 and 2018)
|
| | | | 12,814 | | | | | | 12,814 | | |
Series B redeemable convertible preferred stock, $0.001 par value; 51,069,262 shares authorized; 51,069,262 shares issued and outstanding as of December 31, 2017 and 2018 (liquidation value of $16,000,000 as of December 31, 2017 and 2018)
|
| | | | 15,897 | | | | | | 15,897 | | |
Stockholders’ deficit: | | | | | | | | | | | | | |
Common stock, $0.001 par value; 148,000,000 shares authorized; 19,548,969 shares issued and outstanding as of December 31, 2017 and 2018
|
| | | | 20 | | | | | | 20 | | |
Additional paid-in capital
|
| | | | 419 | | | | | | 728 | | |
Accumulated deficit
|
| | | | (31,294 ) | | | | | | (37,279 ) | | |
Total stockholders’ deficit
|
| | | | (30,855 ) | | | | | | (36,531 ) | | |
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit
|
| | | $ | 4,421 | | | | | $ | 1,980 | | |
| | |
Years Ended
December 31, |
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
| | | | | | | | | | | | | |
Operating expenses | | | | | | | | | | | | | |
Research and development
|
| | | $ | 8,722 | | | | | $ | 2,137 | | |
General and administrative
|
| | | | 2,341 | | | | | | 2,982 | | |
Total operating expenses, net
|
| | | | 11,063 | | | | | | 5,119 | | |
Loss from operations
|
| | | | (11,063 ) | | | | | | (5,119 ) | | |
Interest expense, net
|
| | | | (515 ) | | | | | | (992 ) | | |
Other income (expense), net
|
| | | | 17 | | | | | | 126 | | |
Net loss
|
| | | $ | (11,561 ) | | | | | $ | (5,985 ) | | |
For the periods ended:
|
| |
Series A Redeemable
Convertible Preferred Stock |
| |
Series B Redeemable
Convertible Preferred Stock |
| | |
Common Stock
|
| |
Additional
Paid-in Capital |
| |
Accumulated
Deficit |
| |
Total
Stockholders’ Deficit |
| ||||||||||||||||||||||||||||||||||||
|
Shares
|
| |
Amount
|
| |
Shares
|
| |
Amount
|
| | |
Shares
|
| |
Amount
|
| ||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2016
|
| | | | 56,321,165 | | | | | $ | 12,734 | | | | | | 51,069,262 | | | | | $ | 15,897 | | | | | | | 19,548,969 | | | | | $ | 20 | | | | | $ | 118 | | | | | $ | (19,733 ) | | | | | $ | (19,595 ) | | |
Exercise of warrants
|
| | | | 351,493 | | | | | | 80 | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | ||||||||||
Stock-based compensation expense
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | 301 | | | | | | — | | | | | | 301 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | (11,561 ) | | | | | | (11,561 ) | | |
Balance, December 31, 2017
|
| | | | 56,672,658 | | | | | | 12,814 | | | | | | 51,069,262 | | | | | | 15,897 | | | | | | | 19,548,969 | | | | | | 20 | | | | | | 419 | | | | | | (31,294 ) | | | | | | (30,855 ) | | |
Stock-based compensation expense
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | 309 | | | | | | — | | | | | | 309 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | (5,985 ) | | | | | | (5,985 ) | | |
Balance, December 31, 2018
|
| | | | 56,672,658 | | | | | $ | 12,814 | | | | | | 51,069,262 | | | | | $ | 15,897 | | | | | | | 19,548,969 | | | | | $ | 20 | | | | | $ | 728 | | | | | $ | (37,279 ) | | | | | $ | (36,531 ) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Years Ended
December 31, |
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
| | | | | | | | | | | | | |
Cash flows from operating activities: | | | | | | | | | | | | | |
Net loss
|
| | | $ | (11,561 ) | | | | | $ | (5,985 ) | | |
Adjustments to reconcile net loss to net cash used in operating activities:
|
| | | ||||||||||
Depreciation expense
|
| | | | 10 | | | | | | 8 | | |
Stock-based compensation expense
|
| | | | 301 | | | | | | 309 | | |
Changes in fair value of warrant liability
|
| | | | (12 ) | | | | | | 98 | | |
Accretion of final charge upon maturity of Oxford Term Loan A and B
|
| | | | 106 | | | | | | 224 | | |
Amortization of issuance cost and discounts for term loans and convertible notes
|
| | | | 54 | | | | | | 40 | | |
Non-cash interest expense on convertible promissory notes
|
| | | | — | | | | | | 126 | | |
Changes in operating assets and liabilities:
|
| | | | | | | | | | | | |
Prepaid expenses and other current assets
|
| | | | 329 | | | | | | 23 | | |
Other assets
|
| | | | 1 | | | | | | — | | |
Accounts payable
|
| | | | 601 | | | | | | (212 ) | | |
Accrued liabilities
|
| | | | (12 ) | | | | | | (650 ) | | |
Net Cash Used in Operating Activities
|
| | | | (10,183 ) | | | | | | (6,019 ) | | |
Cash flows from investing activities: | | | | | | | | | | | | | |
Purchases of property and equipment
|
| | | | (3 ) | | | | | | (5 ) | | |
Net cash used in investing activities
|
| | | | (3 ) | | | | | | (5 ) | | |
Cash flows from financing activities: | | | | | | | | | | | | | |
Payments on term loan
|
| | | | (139 ) | | | | | | (890 ) | | |
Proceeds from exercise of warrants
|
| | | | 80 | | | | | | — | | |
Proceeds from issuance of convertible promissory notes – related party
|
| | | | — | | | | | | 4,500 | | |
Net cash provided (used) by financing activities
|
| | | | (59 ) | | | | | | 3,610 | | |
Net decrease in cash and cash equivalents and restricted cash
|
| | | | (10,245 ) | | | | | | (2,414 ) | | |
Cash and cash equivalents and restricted cash at beginning of year
|
| | | | 14,601 | | | | | | 4,356 | | |
Cash and cash equivalents and restricted cash at end of year
|
| | | $ | 4,356 | | | | | $ | 1,942 | | |
Other supplemental disclosure: | | | | | | | | | | | | | |
Cash paid for interest
|
| | | $ | 355 | | | | | $ | 376 | | |
| | |
As of December 31, 2017
|
| |||||||||||||||||||||
| | |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| ||||||||||||
Financial liabilities: | | | | | | ||||||||||||||||||||
Warrant liability
|
| | | $ | — | | | | | $ | — | | | | | $ | 42 | | | | | $ | 42 | | |
Total financial liabilities
|
| | | $ | — | | | | | $ | — | | | | | $ | 42 | | | | | $ | 42 | | |
|
| | |
As of December 31, 2018
|
| |||||||||||||||||||||
| | |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| ||||||||||||
Financial liabilities: | | | | | | ||||||||||||||||||||
Warrant liability
|
| | | $ | — | | | | | $ | — | | | | | $ | 140 | | | | | $ | 140 | | |
Total financial liabilities
|
| | | $ | — | | | | | $ | — | | | | | $ | 140 | | | | | $ | 140 | | |
| | |
Years Ended
December 31, |
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
| | | | | | | | | | | | | |
Fair value, beginning of period
|
| | | $ | 54 | | | | | $ | 42 | | |
Preferred stock warrants – exercised
|
| | | | (8 ) | | | | | | — | | |
Change in fair value of preferred stock warrants
|
| | | | (4 ) | | | | | | 98 | | |
Fair value at end of period
|
| | | $ | 42 | | | | | $ | 140 | | |
| | |
Years Ended
December 31, |
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
| | | | | | | | | | | | | |
Fair value, beginning of period
|
| | | $ | — | | | | | $ | — | | |
Embedded derivative liability from the issuance of Notes
|
| | | | — | | | | | | 864 | | |
Change in value of embedded derivatives
|
| | | | — | | | | | | (211 ) | | |
Termination of the embedded derivative liability due to the extinguishment of the related Notes
|
| | | | — | | | | | | (653 ) | | |
Fair value at end of period
|
| | | $ | — | | | | | $ | — | | |
| | |
As of December 31,
|
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
| | | | | | | | | | | | | |
Furniture and fixtures
|
| | | $ | 29 | | | | | $ | 29 | | |
Office equipment
|
| | | | 2 | | | | | | 2 | | |
Computer equipment
|
| | | | 24 | | | | | | 18 | | |
Laboratory equipment
|
| | | | 2 | | | | | | 2 | | |
Total property and equipment
|
| | | | 57 | | | | | | 51 | | |
Less accumulated depreciation
|
| | | | (44 ) | | | | | | (41 ) | | |
Property and equipment, net
|
| | | $ | 13 | | | | | $ | 10 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
| | | | | | | | | | | | | |
Payroll and related expenses
|
| | | $ | 273 | | | | | $ | 241 | | |
Accrued term loan final payment
|
| | | | 197 | | | | | | 421 | | |
Accrued clinical trial expense
|
| | | | 654 | | | | | | — | | |
Professional fees and other costs
|
| | | | 34 | | | | | | 195 | | |
Total accrued liabilities
|
| | | $ | 1,158 | | | | | $ | 857 | | |
| | |
Year Ending,
December 31, 2019 |
| |||
Total principal payments
|
| | | $ | 3,833 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
| | | | | | | | | | | | | |
Convertible note payable, due on March 29, 2019, interest at 8.0% p.a.
|
| | | $ | — | | | | | $ | 1,500 | | |
Convertible note payable, due on September 27, 2019, interest at 8.0% p.a.
|
| | | | — | | | | | | 1,500 | | |
Convertible note payable, due on December 21, 2019, interest at
8.0% p.a. |
| | | | — | | | | | | 1,500 | | |
Total
|
| | | $ | — | | | | | $ | 4,500 | | |
Year ending December 31
|
| |
Future
Commitments |
| |||
2019 | | | | $ | 239 | | |
Total
|
| | | $ | 239 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
| | | | | | | | | | | | | |
Series A convertible preferred stock
|
| | | | 56,673 | | | | | | 56,673 | | |
Series B convertible preferred stock
|
| | | | 51,069 | | | | | | 51,069 | | |
Warrants for Series A convertible preferred stock
|
| | | | 330 | | | | | | 330 | | |
Common stock options issued and outstanding
|
| | | | 19,222 | | | | | | 19,222 | | |
Total
|
| | | | 127,294 | | | | | | 127,294 | | |
|
Issuance Date
|
| |
Expiration Date
|
| |
Exercise Price
|
| |
Number of
Shares (in thousands) |
| ||||||
November, 2015
|
| |
November, 2025
|
| | | | 0.2276 | | | | | | 198 | | |
June, 2016
|
| |
January, 2026
|
| | | | 0.2276 | | | | | | 132 | | |
Total
|
| | | | | | | | | | | | | 330 | | |
| | |
As of December 31,
|
| |||
| | |
2017
|
| |
2018
|
|
| | | | | | | |
Risk-free interest rate
|
| |
2.28%
|
| |
2.56% – 2.59%
|
|
Remaining contractual life (in years)
|
| |
7.92 – 8.08
|
| |
6.92 – 7.08
|
|
Dividend yield
|
| |
—
|
| |
—
|
|
Expected volatility
|
| |
71.00%
|
| |
76.84%
|
|
| | | | | | | | |
Outstanding Options
|
| | | | | | | |||||||||||||||
| | |
Shares
Available For Grant |
| |
Options
Outstanding |
| |
Weighted-
Average Exercise Price Per Share |
| |
Weighted-
Average Remaining Contractual Life (in years) |
| |
Aggregate
Intrinsic Value (a) |
| |||||||||||||||
Balance at December 31, 2016
|
| | | | 5 | | | | | | 19,222 | | | | | $ | 0.10 | | | | | | 9.4 | | | | |||||
Balance at December 31, 2017
|
| | | | 5 | | | | | | 19,222 | | | | | $ | 0.10 | | | | | | 8.4 | | | | | $ | 6,639 | | |
Balance at December 31, 2018
|
| | | | 5 | | | | | | 19,222 | | | | | $ | 0.10 | | | | | | 7.4 | | | | | $ | 6,956 | | |
Vested and expected to vest as of December 31, 2018
|
| | | | | | | | | | 19,222 | | | | | $ | 0.10 | | | | | | 7.4 | | | | | $ | 6,956 | | |
Exercisable at December 31, 2018
|
| | | | | | | | | | 11,146 | | | | | $ | 0.09 | | | | | | 7.4 | | | | | $ | 4,119 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2017
|
| |
2018
|
| ||||||
Net operating loss carry forward
|
| | | $ | 6,158 | | | | | $ | 7,051 | | |
Research and development credits
|
| | | | 1,284 | | | | | | 1,601 | | |
Accruals and reserves
|
| | | | 99 | | | | | | 142 | | |
Fixed assets
|
| | | | — | | | | | | 1 | | |
Total deferred tax asset
|
| | | | 7,541 | | | | | | 8,795 | | |
Valuation allowance
|
| | | | (7,541 ) | | | | | | (8,795 ) | | |
Net deferred tax asset
|
| | | $ | — | | | | | $ | — | | |
| | |
Years Ended
December 31, 2018 |
| |||
Balance at December 31, 2017
|
| | | $ | 331 | | |
Changes related to prior year positions
|
| | | | 330 | | |
Increases related to current year positions
|
| | | | 42 | | |
Balance at December 31, 2018
|
| | | $ | 703 | | |
| | |
December 31,
2018 |
| |
June 30,
2019 |
| ||||||
Assets: | | | | ||||||||||
Current assets | | | | ||||||||||
Cash and cash equivalents
|
| | | $ | 1,887 | | | | | $ | 24 | | |
Restricted cash
|
| | | | 55 | | | | | | 254 | | |
Prepaid expenses and other current assets
|
| | | | 10 | | | | | | 1,622 | | |
Total current assets
|
| | | | 1,952 | | | | | | 1,900 | | |
Property and equipment, net
|
| | | | 10 | | | | | | 6 | | |
Right of use asset, net
|
| | | | — | | | | | | 779 | | |
Other assets
|
| | | | 18 | | | | | | 18 | | |
Total assets
|
| | | $ | 1,980 | | | | | $ | 2,703 | | |
Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Deficit: | | | | ||||||||||
Current liabilities | | | | ||||||||||
Accounts payable
|
| | | $ | 491 | | | | | $ | 1,748 | | |
Accrued liabilities
|
| | | | 857 | | | | | | 1,480 | | |
Current portion of operating lease liability
|
| | | | — | | | | | | 346 | | |
Convertible promissory notes - related party
|
| | | | 4,500 | | | | | | 5,497 | | |
Current portion of term loan, net of discount
|
| | | | 3,812 | | | | | | 2,390 | | |
Total current liabilities
|
| | | | 9,660 | | | | | | 11,461 | | |
Operating lease liability, net of current portion
|
| | | | — | | | | | | 493 | | |
Warranty liability
|
| | | | 140 | | | | | | — | | |
Commitments and contingencies (Note 7)
|
| | | ||||||||||
Redeemable convertible preferred stock | | | | ||||||||||
Series A redeemable convertible preferred stock, $0.001 par value; 2,046,378 shares authorized, 2,034,548 shares issued and outstanding at December 31, 2018, 0 shares authorized, issued and outstanding at June 30, 2019 (unaudited)
|
| | | | 12,814 | | | | | | — | | |
Series B redeemable convertible preferred stock, $0.001 par value; 1,833,387 shares authorized, issued and outstanding at December 31, 2018, 0 shares authorized, issued and outstanding at June 30, 2019 (unaudited);
|
| | | | 15,897 | | | | | | — | | |
Stockholders’ deficit | | | | ||||||||||
Preferred stock, $0.001 par value; 1,000,000 shares authorized no shares issued or outstanding
|
| | | | — | | | | | | — | | |
Common stock, $0.001 par value; 5,313,200 shares authorized, 701,808 shares issued and outstanding at December 31, 2018, 95,000,000 shares authorized, 5,807,877 shares issued and outstanding at June 30, 2019 (unaudited)
|
| | | | 1 | | | | | | 6 | | |
Additional paid-in capital
|
| | | | 747 | | | | | | 35,160 | | |
Accumulated deficit
|
| | | | (37,279 ) | | | | | | (44,417 ) | | |
Total stockholders’ deficit
|
| | | | (36,531 ) | | | | | | (9,251 ) | | |
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit
|
| | | $ | 1,980 | | | | | $ | 2,703 | | |
| | |
Six Months Ended June 30,
|
| |||||||||
| | |
2018
|
| |
2019
|
| ||||||
Operating expenses | | | | ||||||||||
Research and development
|
| | | $ | 1,269 | | | | | $ | 3,226 | | |
General and administrative
|
| | | | 1,292 | | | | | | 2,317 | | |
Grant reimbursements
|
| | | | — | | | | | | (1,198 ) | | |
Total operating expenses, net
|
| | | | 2,561 | | | | | | 4,345 | | |
Loss from operations
|
| | | | (2,561 ) | | | | | | (4,345 ) | | |
Interest expense, net
|
| | | | (445 ) | | | | | | (2,641 ) | | |
Other income (expense), net
|
| | | | 60 | | | | | | (94 ) | | |
Loss from continuing operations
|
| | | | (2,946 ) | | | | | | (7,080 ) | | |
Loss from discontinued operations
|
| | | | — | | | | | | (58 ) | | |
Net loss
|
| | | $ | (2,946 ) | | | | | $ | (7,138 ) | | |
Net loss per basic and diluted share: | | | | ||||||||||
Loss from continuing operations
|
| | | $ | (0.64 ) | | | | | $ | (1.43 ) | | |
Loss from discontinued operations
|
| | | | — | | | | | | (0.01 ) | | |
Net loss per basic and diluted share
|
| | | $ | (0.64 ) | | | | | $ | (1.44 ) | | |
Weighted-average number of common shares outstanding – basic and diluted
|
| | | | 4,569,742 | | | | | | 4,966,491 | | |
| | |
Series A Redeemable
Convertible Preferred Stock |
| |
Series B Redeemable
Convertible Preferred Stock |
| | |
Common Stock
|
| |
Additional
Paid-In Capital |
| |
Accumulated
Deficit |
| |
Total
Stockholders’ Deficit |
| ||||||||||||||||||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| |
Shares
|
| |
Amount
|
| | |
Shares
|
| |
Amount
|
| ||||||||||||||||||||||||||||||||||||
Balance, December 31, 2018
|
| | | | 2,034,548 | | | | | $ | 12,814 | | | | | | 1,833,387 | | | | | $ | 15,897 | | | | | | | 701,808 | | | | | $ | 1 | | | | | $ | 747 | | | | | $ | (37,279 ) | | | | | $ | (36,531 ) | | |
Stock-based compensation expense
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | 84 | | | | | | — | | | | | | 84 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | (2,462 ) | | | | | | (2,462 ) | | |
Balance, March 31, 2019
|
| | | | 2,034,548 | | | | | $ | 12,814 | | | | | | 1,833,387 | | | | | $ | 15,897 | | | | | | | 701,808 | | | | | $ | 1 | | | | | $ | 831 | | | | | $ | (39,741 ) | | | | | $ | (38,909 ) | | |
Conversion of convertible notes into convertible preferred stock
|
| | | | — | | | | | | — | | | | | | 367,041 | | | | | | 3,203 | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Recognition of beneficial conversion feature upon conversion of convertible notes
|
| | | | — | | | | | | — | | | | | | — | | | | | | 2,101 | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Conversion of of convertible preferred stock into common stock
|
| | | | (2,034,548 ) | | | | | | (12,814 ) | | | | | | (2,200,428 ) | | | | | | (21,201 ) | | | | | | | 4,234,976 | | | | | | 4 | | | | | | 34,011 | | | | | | — | | | | | | 34,015 | | |
Issuance of common stock for merger
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | 854,017 | | | | | | 1 | | | | | | 1 | | | | | | — | | | | | | 2 | | |
Equity issuance costs paid in stock
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | 17,076 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Impact of change of warrants subject to fair value measure to equity warrants
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | 234 | | | | | | — | | | | | | 234 | | |
Spin-off of AquaMed
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | (1 ) | | | | | | — | | | | | | (1 ) | | |
Stock-based compensation expense
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | 84 | | | | | | — | | | | | | 84 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | (4,676 ) | | | | | | (4,676 ) | | |
Balance, June 30, 2019
|
| | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | | 5,807,877 | | | | | $ | 6 | | | | | $ | 35,160 | | | | | $ | (44,417 ) | | | | | $ | (9,251 ) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Six Months Ended June 30,
|
| |||||||||
| | |
2018
|
| |
2019
|
| ||||||
Cash flows from operating activities: | | | | ||||||||||
Net loss
|
| | | $ | (2,946 ) | | | | | $ | (7,138 ) | | |
Adjustments to reconcile net loss to net cash used in operating activities:
|
| | | ||||||||||
Depreciation expense
|
| | | | 4 | | | | | | 4 | | |
Stock-based compensation expense
|
| | | | 150 | | | | | | 168 | | |
Changes in fair value of warrant liability
|
| | | | 1 | | | | | | 95 | | |
Changes in fair value of derivative liability
|
| | | | (60 ) | | | | | | — | | |
Accretion of final charge upon maturity of Oxford Term Loan A and B
|
| | | | 94 | | | | | | 148 | | |
Amortization of issuance cost and discounts for term loans and convertible notes
|
| | | | 130 | | | | | | 16 | | |
Non-cash interest expense on convertible promissory notes
|
| | | | 31 | | | | | | 2,304 | | |
Non-cash operating lease cost
|
| | | | — | | | | | | 140 | | |
Changes in operating assets and liabilities:
|
| | | ||||||||||
Prepaid expenses and other current assets
|
| | | | (12 ) | | | | | | (1,611 ) | | |
Other assets
|
| | | | — | | | | | | 57 | | |
Accounts payable
|
| | | | (607 ) | | | | | | 1,255 | | |
Accrued liabilities
|
| | | | (312 ) | | | | | | 475 | | |
Lease liability
|
| | | | — | | | | | | (136 ) | | |
Net cash used in operating activities
|
| | | | (3,527 ) | | | | | | (4,223 ) | | |
Cash flows from investing activities: | | | | ||||||||||
Net cash used in investing activities
|
| | | | — | | | | | | — | | |
Cash flows from financing activities: | | | | ||||||||||
Payments on term loan
|
| | | | (616 ) | | | | | | (1,437 ) | | |
Proceeds from issuance of convertible promissory notes - related party
|
| | | | 1,500 | | | | | | 3,996 | | |
Net cash provided by financing activities
|
| | | | 884 | | | | | | 2,559 | | |
Net decrease in cash, cash equivalents and restricted cash
|
| | | | (2,643 ) | | | | | | (1,664 ) | | |
Cash, cash equivalents and restricted cash at beginning of period
|
| | | | 4,356 | | | | | | 1,942 | | |
Cash, cash equivalents and restricted cash at end of period
|
| | | $ | 1,713 | | | | | $ | 278 | | |
Other supplemental disclosure: | | | | ||||||||||
Cash paid for interest
|
| | | $ | 190 | | | | | $ | 173 | | |
Non-cash investing and financing activities: | | | | ||||||||||
Right-of-use assets obtained in exchange for operating lease obligations
(1)
|
| | | $ | — | | | | | $ | 227 | | |
Reclassification of warrant liability to paid in capital
|
| | | $ | — | | | | | $ | 234 | | |
Conversion of convertible preferred stock into common stock
|
| | | $ | — | | | | | $ | 34,015 | | |
| | |
As of December 31, 2018
|
| |||||||||||||||||||||
| | |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| ||||||||||||
Financial liabilities | | | | | | ||||||||||||||||||||
Warrant liability
|
| | | $ | — | | | | | $ | — | | | | | $ | 140 | | | | | $ | 140 | | |
Total financial liabilities
|
| | | $ | — | | | | | $ | — | | | | | $ | 140 | | | | | $ | 140 | | |
| | |
Six Months Ended June 30,
|
| |||||||||
| | |
2018
|
| |
2019
|
| ||||||
Fair value, beginning of period
|
| | | $ | 42 | | | | | $ | 140 | | |
Change in fair value of preferred stock warrants
|
| | | | — | | | | | | 94 | | |
Exchange of warrants upon Merger
|
| | | | — | | | | | | (234 ) | | |
Fair value at end of period
|
| | | $ | 42 | | | | | $ | — | | |
| | |
Six Months Ended June 30,
|
| |||||||||
| | |
2018
|
| |
2019
|
| ||||||
Fair value, beginning of period
|
| | | $ | — | | | | | $ | — | | |
Embedded derivative liability from the issuance of Notes
|
| | | | 496 | | | | | | — | | |
Change in value of embedded derivatives
|
| | | | (60 ) | | | | | | — | | |
Fair value at end of period
|
| | | $ | 436 | | | | | $ | — | | |
| | |
December 31,
2018 |
| |
June 30,
2019 |
| ||||||
Furniture and fixtures
|
| | | $ | 29 | | | | | $ | 29 | | |
Office equipment
|
| | | | 2 | | | | | | 2 | | |
Computer equipment
|
| | | | 18 | | | | | | 18 | | |
Laboratory equipment
|
| | | | 2 | | | | | | 2 | | |
Total property and equipment
|
| | | | 51 | | | | | | 51 | | |
Less accumulated depreciation
|
| | | | (41 ) | | | | | | (45 ) | | |
Property and equipment, net
|
| | | $ | 10 | | | | | $ | 6 | | |
| | |
December 31,
2018 |
| |
June 30,
2019 |
| ||||||
Prepaid clinical trial expenses
|
| | | $ | 5 | | | | | $ | 435 | | |
Equity issuance costs
|
| | | | — | | | | | | 343 | | |
Prepaid insurance
|
| | | | — | | | | | | 670 | | |
Other prepaid expenses
|
| | | | 5 | | | | | | 174 | | |
Total prepaid and other current assets
|
| | | $ | 10 | | | | | $ | 1,622 | | |
|
| | |
December 31,
2018 |
| |
June 30,
2019 |
| ||||||
Payroll and related expenses
|
| | | $ | 241 | | | | | $ | 508 | | |
Accrued term loan final payment
|
| | | | 421 | | | | | | 569 | | |
Accrued clinical trial expense
|
| | | | — | | | | | | 8 | | |
Professional fees and other costs
|
| | | | 195 | | | | | | 395 | | |
Total accrued liabilities
|
| | | $ | 857 | | | | | $ | 1,480 | | |
| | |
December 31,
2018 |
| |
June 30,
2019 |
| ||||||
Convertible note payable, due on March 29, 2019
|
| | | $ | 1,500 | | | | | $ | — | | |
Convertible note payable, due on September 27, 2019
|
| | | | 1,500 | | | | | | — | | |
Convertible note payable, due on December 21, 2019
|
| | | | 1,500 | | | | | | 1,500 | | |
Convertible note payable, due on March 29, 2020
|
| | | | — | | | | | | 1,500 | | |
Convertible note payable, due on April 26, 2020
|
| | | | — | | | | | | 2,000 | | |
Convertible note payable, due on May 29, 2020
|
| | | | — | | | | | | 500 | | |
Total
|
| | | $ | 4,500 | | | | | $ | 5,500 | | |
Period ending December 31
|
| |
Future
Commitments |
| |||
2019 (remaining 6 months)
|
| | | $ | 232 | | |
2020
|
| | | | 227 | | |
2021
|
| | | | 232 | | |
2022
|
| | | | 236 | | |
2023
|
| | | | 80 | | |
Total future minimum lease payments
|
| | | | 1,007 | | |
Less: imputed interest
|
| | | | (167 ) | | |
Total
|
| | | $ | 840 | | |
| | |
Number of
Options |
| |
Weighted
Average Exercise Price |
| |
Weighted
Average Remaining Life In Years |
| |
Intrinsic Value
|
| ||||||||||||
Outstanding, December 31, 2018
|
| | | | 690 | | | | | $ | 2.76 | | | | | ||||||||||
Alliqua options assumed in Merger
|
| | | | 58 | | | | | | 289.76 | | | | | ||||||||||
Exercised
|
| | | | — | | | | | | — | | | | | ||||||||||
Cancelled
|
| | | | — | | | | | | — | | | | | | | | | | | | | | |
Outstanding, June 30, 2019
|
| | | | 748 | | | | | $ | 24.95 | | | | | | 6.2 | | | | | $ | 188 | | |
Exercisable, June 30, 2019
|
| | | | 530 | | | | | $ | 33.93 | | | | | | 5.7 | | | | | $ | 188 | | |
|
Range of Exercise Price
|
| |
Options Outstanding
|
| |
Options Exercisable
|
| ||||||||||||||||||||||||
|
Weighted
Average Exercise Price |
| |
Outstanding
Number of Options |
| |
Weighted
Average Exercise Price |
| |
Weighted
Average Remaining Life In Years |
| |
Exercisable
Number of Options |
| ||||||||||||||||||
|
$1.11 – $1.38
|
| | | $ | 1.11 | | | | | | 73 | | | | | $ | 1.11 | | | | | | 2.5 | | | | | | 73 | | |
|
1.39 – 3.05
|
| | | | 1.39 | | | | | | 37 | | | | | | 1.39 | | | | | | 3.2 | | | | | | 37 | | |
|
3.06 – 20.99
|
| | | | 3.06 | | | | | | 580 | | | | | | 3.06 | | | | | | 7.5 | | | | | | 362 | | |
|
21.00 – 656.40
|
| | | | 289.81 | | | | | | 58 | | | | | | 289.81 | | | | | | 0.7 | | | | | | 58 | | |
| | | | | $ | 24.95 | | | | | | 748 | | | | | $ | 24.95 | | | | | | 5.7 | | | | | | 530 | | |
Item
|
| |
Amount
|
| |||
SEC registration fee
|
| | | $ | 1,818 | | |
FINRA filing fee
|
| | | | 2,750 | | |
Printing and engraving expenses
|
| | | | * | | |
Legal fees and expenses
|
| | | | * | | |
Accounting fees and expenses
|
| | | | * | | |
Transfer agent and registrar fees and expenses
|
| | | | * | | |
Miscellaneous
|
| | | | * | | |
Total
|
| | | $ | * | | |
|
Exhibit
Number |
| |
Description
|
| |
Incorporation By Reference
|
| |||||||||
|
Form
|
| |
SEC File
No. |
| |
Exhibit
|
| |
Filing Date
|
| ||||||
| | | Form of Warrant, dated April 14, 2014, by and between Alliqua, Inc. and certain accredited investors | | | | | | | | | | |||||
| | | Form of Warrant, dated April 3, 2017, by and between Alliqua BioMedical, Inc. and H.C. Wainwright & Co. LLC and its designees | | | | | | | | | | |||||
| | | Sublease, dated as of February 8, 2016, by and between the Registrant and REC Americas LLC, to the Office Lease, dated as of October 27, 2014, by and between REC Americas LLC and 100 Pine Street Investment Group LLC | | | | | | | | | | |||||
| | | Form of Indemnification Agreement, by and between the Registrant and each of its directors and executive officers | | | | | | | | | | |||||
| | | Asset Contribution and Separation Agreement between Alliqua BioMedical, Inc. and AquaMed Technologies, Inc. # | | | | | | | | | | |||||
| | | Letter from Marcum LLP to the Securities and Exchange Commission, dated May 29, 2019. | | | | | | | | | | |||||
| | | Subsidiaries of the Registrant | | | | | | | | | | |||||
| | | Consent of Independent Registered Public Accounting Firm | | | | | | |||||||||
|
23.2*
|
| | Consent of Cooley LLP (included in Exhibit 5.1) | | | | | | ||||||||
|
24.1†
|
| | Power of Attorney (see signature page to the registration statement on Form S-1 filed June 17, 2019 and signature page hereto ) | | | | | | ||||||||
|
101**
|
| | The following financial information of Adynxx, Inc. formatted in Extensible Business Reporting Language (XBRL) is filed herewith: (i) Balance sheets as of June 30, 2019 (unaudited), December 31, 2018 and December 31, 2017; (ii) Statements of operations for the six months ended June 30, 2019 (unaudited) and June 30, 2018 (unaudited), and years ended December 31, 2018 and 2017; (iii) Statements of redeemable convertible preferred stock and stockholders' deficit for the six months ended June 30, 2019 (unaudited) and June 30, 2018 (unaudited), and the years ended December 31, 2018 and 2017; (iv) Statements of cash flows for the six months ended June 30, 2019 (unaudited) and June 30, 2018 (unaudited), and the years ended December 31, 2018 and 2017; and (v) Notes to financial statements | |
|
Signature
|
| |
Title
|
| |
Date
|
|
|
/s/
R
ick
O
rr
Rick Orr
|
| |
President and Chief Executive Officer and Director
(Principal Executive Officer and Principal Financial Officer) |
| |
August 22, 2019
|
|
|
/s/
D
ina
G
onzalez
Dina Gonzalez
|
| |
Controller
(Principal Accounting Officer) |
| |
August 22, 2019
|
|
|
*
Dennis Podlesak
|
| |
Chairman of the Board of Directors
|
| |
August 22, 2019
|
|
|
*
Stan Abel
|
| |
Director
|
| |
August 22, 2019
|
|
|
/s/
G
regory
J. F
lesher
Gregory J. Flesher
|
| |
Director
|
| |
August 22, 2019
|
|
|
*
Julien Mamet, Ph.D.
|
| |
Director
|
| |
August 22, 2019
|
|
|
*
Matthew Ruth
|
| |
Director
|
| |
August 22, 2019
|
|
|
*
Eckard Weber, M.D.
|
| |
Director
|
| |
August 22, 2019
|
|
|
*By:
/s/ Rick Orr
Rick Orr
Attorney-in-fact |
| | |
1 Year Alliqua, Inc. Chart |
1 Month Alliqua, Inc. Chart |
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