HANSEN MEDICAL INC

[1]	The Company’s financial statements have been retroactively adjusted to reflect the reverse stock split of its outstanding shares of common stock at a ratio of one-for-ten effective on September 22, 2015.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net loss	$ (9,672)	$ (11,933)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	234	244
Stock-based compensation	413	610
Payment-in-kind interest on loan	269	258
Amortization of deferred finance costs and discount on debt	35	97
Change in fair value of warrant liability	0	1,676
Provision of doubtful accounts	15	0
Inventory write-off	16	0
Realized loss on investment	357	0
Changes in operating assets and liabilities:
Accounts receivable	1,927	1,375
Inventories	(1,253)	608
Prepaids and other current assets	274	161
Other long-term assets	60	(65)
Accounts payable	327	(81)
Accrued liabilities	(30)	(464)
Deferred revenue	(853)	(427)
Other long-term liabilities	3	17
Net cash used in operating activities	(7,878)	(7,924)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]
Purchase of property and equipment	(15)	(47)
Proceeds from sale of short-term investment	1,215	0
Change in restricted cash	15	14
Net cash provided by (used in) investing activities	1,215	(33)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Proceeds from issuance of Series A convertible preferred stock	0	35,000
Payment of short-term debt	(1,215)	0
Costs related to issuance of Series A convertible preferred stock and common stock	0	(107)
Withholding taxes paid on vested restricted stock units	(9)	0
Net cash provided by (used in) financing activities	(1,224)	34,893
Effect of exchange rate changes on cash and cash equivalents	16	(64)
Net increase (decrease) in cash and cash equivalents	(7,871)	26,872
Cash and cash equivalents at beginning of period	20,375	24,528
Cash and cash equivalents at end of period	12,504	51,400
Supplemental disclosure of:
Cash paid for interest	954	945
Non-cash investing and financing activity:
Equipment transfer from inventories to property and equipment	$ 293	$ 692

Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands

Mar. 31, 2016

Dec. 31, 2015

Current assets:

Cash and cash equivalents

$ 12,504

$ 20,375

Short-term investments

1,501

Accounts receivable, net of allowance of $23 as of March 31, 2016 and $23 as of December 31, 2015

2,609

4,551

Inventories

9,603

8,659

Prepaids and other current assets

1,310

1,814

Total current assets

26,026

36,900

Property and equipment, net

2,399

2,325

Restricted cash

6,098

6,113

Other assets

145

380

Total assets

34,668

45,718

Current liabilities:

Accounts payable

991

664

Accrued liabilities

4,011

4,113

Current portion of deferred revenue

3,124

3,923

Current portion of deferred rent

335

Short-term debt

33,824

35,141

Total current liabilities

42,285

43,841

Deferred rent, net of current portion

262

Deferred revenue, net of current portion

Other long-term liabilities

Total liabilities

$ 42,400

$ 44,270

Commitments and contingencies (Note 7)

Preferred stock, par value $0.0001, 10,000 shares authorized; zero shares issued and outstanding

$ 0

Stockholders’ equity:

Common stock, par value $0.0001: Authorized: 30,000 shares; issued and outstanding: 18,872 and 13,326 shares at September 30, 2015 and December 31, 2014, respectively

^[1]

Additional paid-in capital

455,989

455,585

Accumulated other comprehensive loss

(122)

(210)

Accumulated deficit

(463,601)

(453,929)

Total stockholders’ equity

(7,732)

1,448

Total liabilities, preferred stock and stockholders’ equity

$ 34,668

$ 45,718

[1]	The Company’s financial statements have been retroactively adjusted to reflect the reverse stock split of its outstanding shares of common stock at a ratio of one-for-ten effective on September 22, 2015.