MEDGENICS, INC.

CIK:0001138776|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Research and development expenses	$ 2,499	$ 5,125	$ 7,902	$ 17,433
General and administrative expenses	1,543	2,174	4,643	6,852
Operating loss	(4,042)	(7,299)	(12,545)	(24,285)
Financial income, net	0	50	19	136
Net loss	$ (4,042)	$ (7,249)	$ (12,526)	$ (24,149)
Basic and diluted loss per share	$ (0.06)	$ (0.12)	$ (0.19)	$ (0.40)
Weighted average number of common stock used in computing basic and diluted loss per share	64,766,882	62,019,780	64,766,882	60,240,787

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (12,526)	$ (24,149)
Adjustments to reconcile loss to net cash used in operating activities:
Depreciation	19	49
Stock-based compensation	1,137	2,285
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(233)	355
Trade payables	(1,459)	642
Other accounts payable and accrued expenses	1,367	1,653
Other long term assets	0	43
Net cash used in operating activities	(11,695)	(19,122)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash provided by (used in) investing activities	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of shares, net	0	4,961
Proceeds from exercise of options and warrants	0	34
Proceeds from royalty agreement	2,000	0
Net cash provided by financing activities	2,000	4,995
Decrease in cash and cash equivalents	(9,695)	(14,127)
Balance of cash and cash equivalents at the beginning of the period	12,076	33,729
Balance of cash and cash equivalents at the end of the period	$ 2,381	$ 19,602

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 2,381	$ 12,076
Prepaid expenses and other current assets	403	170
Total current assets	2,784	12,246
LONG-TERM ASSETS:
Lease deposits	11	11
Property and equipment, net	1	20
Total long-term assets	12	31
Total assets	2,796	12,277
CURRENT LIABILITIES:
Trade payables	123	1,582
Other accounts payable and accrued expenses	4,130	2,763
Total current liabilities	4,253	4,345
LONG-TERM LIABILITIES:
Royalty agreement liability	2,000	0
Total long-term liabilities	2,000	0
Total liabilities	6,253	4,345
STOCKHOLDERS' EQUITY:
Common stock - $0.0001 par value; 200,000,000 shares authorized; 64,766,882 shares issued and outstanding at September 30, 2019 and December 31, 2018	7	7
Additional paid-in capital	254,815	253,678
Accumulated deficit	(258,279)	(245,753)
Total stockholders' equity	(3,457)	7,932
Total liabilities and stockholders' equity	$ 2,796	$ 12,277