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x
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Delaware
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20-8099512
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(State of incorporation)
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(I.R.S. Employer Identification No.)
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Large accelerated filer
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o
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Accelerated filer
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o
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Non-accelerated filer
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o
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(Do not check if a smaller reporting company)
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Smaller reporting company
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x
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Emerging growth company
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o
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Part
No.
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Item
No.
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Description
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Page
No.
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I
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1
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Condensed Consolidated Balance Sheets as of March 31, 2018 (unaudited) and December 31, 2017
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Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2018 and 2017
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Unaudited Condensed Consolidated Statement of Stockholders' (Deficit) Equity for the three months ended March 31, 2018
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Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2018 and 2017
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2
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3
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4
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II
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1
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Legal Proceedings
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1A
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Risk Factors
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2
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3
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4
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5
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6
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March 31, 2018
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December 31, 2017
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(Unaudited)
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ASSETS
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Current assets:
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Cash and cash equivalents
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$
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3,474
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$
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2,319
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Restricted cash
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8,612
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10,431
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Prepaid expenses and other current assets
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986
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337
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Total current assets
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13,072
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13,087
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In-process research and development
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17,600
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17,600
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Goodwill
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1,914
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1,914
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Deposits and other assets
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899
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925
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Total assets
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$
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33,485
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$
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33,526
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LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
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Current liabilities:
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Current portion of long-term debt
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$
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8,526
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$
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8,377
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Accounts payable
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11,451
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11,691
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Accrued expenses and other current liabilities
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4,470
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3,201
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Litigation settlement payable
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1,300
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1,300
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Total current liabilities
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25,747
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24,569
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Deferred tax liability
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1,673
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1,673
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Warrant liability
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1,528
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1,309
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Contingent consideration
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4,705
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1,294
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Long-term debt, net of current portion
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1,150
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2,611
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Total liabilities
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34,803
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31,456
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Commitments and contingencies (Note 8)
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Stockholders’ (deficit) equity:
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Preferred stock, $0.0001 par value; 5,000,000 shares authorized; Series A shares, 17,500 shares designated, 5,987 issued and outstanding at March 31, 2018; no shares issued and outstanding at December 31, 2017
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—
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—
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Common stock, $0.0001 par value; 350,000,000 shares authorized, 6,154,377 shares issued and outstanding at March 31, 2018; 5,766,891 shares issued and outstanding at December 31, 2017
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1
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1
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Additional paid-in capital
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60,861
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56,254
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Accumulated deficit
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(62,180
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)
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(54,185
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)
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Total stockholders’ (deficit) equity
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(1,318
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)
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2,070
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Total liabilities and stockholders’ (deficit) equity
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$
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33,485
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$
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33,526
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Three Months Ended March 31,
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2018
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2017
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Operating expenses:
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Research and development
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$
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1,804
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$
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2,184
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General and administrative
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3,880
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2,287
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Total operating expenses and operating loss
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(5,684
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)
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(4,471
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)
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Non-operating income (expense):
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Change in fair value of warrant liability
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1,881
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—
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Change in fair value of the contingent consideration
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(3,411
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)
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—
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Loss on settlement of liability-classified warrants
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(685
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)
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—
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Interest expense, net
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(96
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)
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(130
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)
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Total non-operating income (expense), net
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(2,311
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)
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(130
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)
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Net loss
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$
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(7,995
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)
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$
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(4,601
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)
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Deemed dividend arising from beneficial conversion feature of convertible preferred stock
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(1,968
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)
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—
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Net loss attributable to common stockholders
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$
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(9,963
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)
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$
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(4,601
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)
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Per share information:
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Net loss per common share attributable to common stockholders, basic and diluted
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$
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(1.67
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)
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$
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(3.63
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)
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Weighted-average common shares outstanding, basic and diluted
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5,952,193
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1,268,489
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Preferred Stock
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Common Stock
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Additional Paid-In Capital
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Accumulated Deficit
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Total
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Shares Issued
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Amount
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Shares Issued
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Amount
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Balance at December 31, 2017
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—
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$
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—
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5,766,891
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$
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1
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$
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56,254
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$
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(54,185
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)
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$
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2,070
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Issuance of Series A convertible preferred stock, net of offering costs
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5,987
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—
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—
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—
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5,328
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—
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5,328
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Fair value of liability-classified warrants issued in connection with Series A convertible preferred stock offering
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—
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—
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—
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—
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(2,587
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)
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—
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(2,587
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)
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Beneficial conversion feature arising from Series A convertible preferred stock
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—
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—
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—
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—
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(1,968
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)
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—
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(1,968
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)
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Deemed dividend arising from beneficial conversion feature of Series A convertible preferred stock
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—
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—
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—
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—
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1,968
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—
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1,968
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|||||
Accretion of convertible preferred stock dividends
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—
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—
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—
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—
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(72
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)
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—
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(72
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)
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Issuance of common stock as repayment of principal and interest on long-term debt
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—
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—
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333,143
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—
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1,631
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—
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1,631
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Issuance of common stock in connection with warrant exchange agreements
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—
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—
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54,343
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—
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285
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—
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285
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Stock-based compensation for directors and employees
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—
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—
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—
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—
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22
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—
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22
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|||||
Net loss
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—
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—
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—
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—
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—
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(7,995
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)
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(7,995
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)
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|||||
Balance at March 31, 2018
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5,987
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$
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—
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6,154,377
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$
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1
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$
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60,861
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$
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(62,180
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)
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$
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(1,318
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)
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For the Three Months Ended March 31,
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||||||
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2018
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2017
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||||
Cash flows from operating activities:
|
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||||
Net loss
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$
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(7,995
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)
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$
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(4,601
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)
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Non-cash interest expense
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20
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—
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Non-cash stock-based compensation
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22
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937
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Change in fair value of common stock warrants
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(1,881
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)
|
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—
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|
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Change in fair value of contingent consideration
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3,411
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|
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—
|
|
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Loss on settlement of liability-classified warrants
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685
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|
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—
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|
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Changes in operating assets and liabilities:
|
|
|
|
||||
Prepaid expenses and other assets
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(622
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)
|
|
114
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|
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Accounts payable
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(240
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)
|
|
3,585
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|
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Accrued expenses and other current liabilities
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1,197
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|
|
(3,838
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)
|
||
Net cash used in operating activities
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(5,403
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)
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(3,803
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)
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Cash flows from financing activities:
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|
|
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Net proceeds from issuance of Series A convertible preferred stock and common stock warrants
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5,328
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|
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—
|
|
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Principal payments on long-term debt
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(589
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)
|
|
—
|
|
||
Net cash provided by financing activities
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4,739
|
|
|
—
|
|
||
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents
|
(664
|
)
|
|
(3,803
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)
|
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Cash, cash equivalents, restricted cash, and restricted cash equivalents at the beginning of period
|
12,750
|
|
|
5,962
|
|
||
Cash, cash equivalents, restricted cash, and restricted cash equivalents at the end of period
|
$
|
12,086
|
|
|
$
|
2,159
|
|
|
|
|
|
||||
Supplemental disclosure of cash flow information:
|
|
|
|
||||
Cash received during the periods for interest
|
$
|
34
|
|
|
$
|
—
|
|
Cash paid during the periods for interest
|
$
|
110
|
|
|
$
|
—
|
|
Supplemental disclosure of non-cash investing and financing activities:
|
|
|
|
||||
Deemed dividend arising from beneficial conversion feature of Series A convertible preferred stock
|
$
|
1,968
|
|
|
$
|
—
|
|
Repayment of interest and principal on long-term debt through issuance of common stock
|
$
|
1,631
|
|
|
$
|
—
|
|
Reclassification of warrant liabilities upon exchange for shares of common stock
|
$
|
285
|
|
|
$
|
—
|
|
Long-term debt issued in connection with warrant exchange agreements
|
$
|
888
|
|
|
$
|
—
|
|
|
March 31, 2018
|
|
December 31, 2017
|
||||
Cash and cash equivalents
|
$
|
3,474
|
|
|
$
|
2,319
|
|
Restricted cash and cash equivalents
|
8,612
|
|
|
10,431
|
|
||
Total cash, cash equivalents, restricted cash, and restricted cash equivalents
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$
|
12,086
|
|
|
$
|
12,750
|
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Net loss
|
|
$
|
(6,753
|
)
|
Basic and diluted net loss per share
|
|
$
|
(1.87
|
)
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Description
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March 31, 2018
|
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Quoted Prices In
Active Markets
(Level 1)
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Significant Other
Observable
Inputs (Level 2)
|
|
Unobservable
Inputs
(Level 3)
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash equivalents
|
$
|
3,172
|
|
|
$
|
3,172
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Restricted cash equivalents
|
8,423
|
|
|
8,423
|
|
|
—
|
|
|
—
|
|
||||
Total assets measured and recorded at fair value
|
$
|
11,595
|
|
|
$
|
11,595
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Warrants potentially settleable in cash
|
$
|
1,528
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,528
|
|
Contingent consideration
|
4,705
|
|
|
—
|
|
|
—
|
|
|
4,705
|
|
||||
Total liabilities measured and recorded at fair value
|
$
|
6,233
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
6,233
|
|
Description
|
December 31, 2017
|
|
Quoted Prices In
Active Markets
(Level 1)
|
|
Significant Other
Observable
Inputs (Level 2)
|
|
Unobservable
Inputs
(Level 3)
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash equivalents
|
$
|
1,662
|
|
|
$
|
1,662
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Restricted cash equivalents
|
10,245
|
|
|
10,245
|
|
|
—
|
|
|
—
|
|
||||
Total assets measured and recorded at fair value
|
$
|
11,907
|
|
|
$
|
11,907
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Warrants potentially settleable in cash
|
$
|
1,309
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,309
|
|
Contingent consideration
|
1,294
|
|
|
—
|
|
|
—
|
|
|
1,294
|
|
||||
Total liabilities measured and recorded at fair value
|
$
|
2,603
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,603
|
|
|
Fair Value
Measurements
Using Significant
Unobservable
Inputs
(Level 3)
|
||
Contingent consideration, January 1, 2018
|
$
|
1,294
|
|
Change in the estimated fair value of the contingent consideration
|
3,411
|
|
|
Contingent consideration, March 31, 2018
|
$
|
4,705
|
|
|
March 31, 2018
|
|
December 31, 2017
|
||||
Professional fees
|
$
|
1,898
|
|
|
$
|
1,744
|
|
Clinical trial costs
|
960
|
|
|
51
|
|
||
Compensation and related benefits
|
505
|
|
|
566
|
|
||
Value added tax
|
426
|
|
|
426
|
|
||
Rebates and returns of former commercial products
|
416
|
|
|
223
|
|
||
Other
|
265
|
|
|
191
|
|
||
Accrued expenses and other current liabilities
|
$
|
4,470
|
|
|
$
|
3,201
|
|
|
March 31, 2018
|
|
December 31, 2017
|
|
|||
Debt
|
|
|
|
||||
Current portion of Senior Secured Debenture
|
$
|
7,638
|
|
|
$
|
8,377
|
|
Short-term convertible promissory notes
|
888
|
|
|
—
|
|
||
Non-current portion of Senior Secured Debenture
|
1,150
|
|
|
2,611
|
|
||
Total debt
|
$
|
9,676
|
|
|
$
|
10,988
|
|
•
|
JGB can, from time to time, during the term of the Senior Secured Debenture, require the Company to prepay in cash all or a portion of the outstanding principal plus accrued and unpaid interest (the “Outstanding Amount”) on written notice to the Company, provided, that such prepayment amount shall not exceed the lesser of
$18.5 million
and the outstanding principal amount. If JGB elects such prepayment of the Senior Secured Debenture, then the number of shares subject to the warrants issued to the holder will be reduced in proportion to the percentage of principal and accrued interest required to be prepaid by the Company. The Company does not have the right to prepay.
|
•
|
JGB has the right, which commenced on November 10, 2016, to require the Company to redeem the outstanding principal amount, up to the outstanding principal amount of the Senior Secured Debenture, by written notice to the Company and may deliver an unlimited number of redemption notices during any calendar month.
|
•
|
The Company has the option to pay outstanding principal redemptions and monthly interest in shares of common stock, cash, or a combination of shares of common stock and cash. Among the various conditions that must be satisfied (or waived) in order for the Company to be able to elect to satisfy the redemption amounts in shares of common stock are: (a) the VWAP of
$10.50
per share on any trading day that a redemption notice is delivered (b) no event of default has occurred and is continuing and (c) the Company’s cash on hand exceeds the outstanding principal amount by at least
$10.0 million
. In the event that any of these conditions are not met, the Company does not have the option to pay outstanding principal redemptions and monthly interest in cash.
|
•
|
The stock payment price to satisfy outstanding principal redemptions and monthly interest is the lower of (a)
80%
of the VWAP for the trading day immediately prior to the date of the applicable redemption notice (the “Prior Day VWAP”) and (b)
80%
of the average of the three lowest VWAPs during the 20 consecutive trading day period immediately preceding the date of the applicable redemption notice (the “Twenty Day VWAP”); provided, however, to the extent that, on any given trading day, the price per share of common stock on such trading day equals or exceeds
115%
of the Prior Day VWAP or Twenty Day VWAP, then for the such trading day, and such trading day only, each reference to
80%
shall be deemed, for such trading day only, to be
92.5%
|
•
|
|
•
|
The Company was required to maintain a minimum of the lesser of
$18.5 million
or the outstanding principal amount of unencumbered cash in a restricted account. Any funds in the restricted account in excess of the outstanding principal balance are transferred to the Company's unrestricted account to fund its ongoing operations. As of
March 31, 2018
and
December 31, 2017
, the Company maintained
$8.4 million
and
$10.2 million
, respectively, of cash and cash equivalents in a restricted account.
|
|
March 31, 2018
|
|
Warrants outstanding
|
1,236
|
|
Series A Convertible Preferred*
|
1,045
|
|
Stock options outstanding
|
415
|
|
Options reserved for future issuance under the Company’s 2017 Equity Incentive Plan
|
401
|
|
Shares reserved for future issuance under the Employee Stock Purchase Plan
|
115
|
|
Restricted stock units
|
13
|
|
Total reserved for future issuance
|
3,225
|
|
Warrant Issuance
|
Outstanding, December 31, 2017
|
|
Granted
|
|
Canceled
|
|
Outstanding, March 31, 2018
|
|
Expiration
|
||||
Series A Convertible Preferred
|
—
|
|
|
774
|
|
|
—
|
|
|
774
|
|
|
September 2023
|
2017 Equilibria
|
316
|
|
|
—
|
|
|
—
|
|
|
316
|
|
|
December 2022
|
Galena February 2017
|
567
|
|
|
—
|
|
|
(501
|
)
|
|
66
|
|
|
February 2022
|
Galena Other
|
80
|
|
|
—
|
|
|
—
|
|
|
80
|
|
|
January 2022
|
|
963
|
|
|
774
|
|
|
(501
|
)
|
|
1,236
|
|
|
|
As of March 31, 2018
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||
Warrant Issuance
|
Outstanding (in thousands)
|
|
Strike price (per share)
|
|
Expected term (years)
|
|
Volatility %
|
|
Risk-free rate %
|
|||||
Series A Convertible Preferred
|
774
|
|
|
$
|
6.59
|
|
|
5.45
|
|
80.78
|
%
|
|
2.59
|
%
|
Galena February 2017
|
66
|
|
|
$
|
33.00
|
|
|
3.88
|
|
74.00
|
%
|
|
2.25
|
%
|
Galena Other
|
80
|
|
|
$
|
888.22
|
|
|
2.94
|
|
74.08
|
%
|
|
2.27
|
%
|
|
|
|
|
|
|
|
|
|
|
|||||
As of December 31, 2017
|
||||||||||||||
Warrant Issuance
|
Outstanding (in thousands)
|
|
Strike price (per share)
|
|
Expected term (years)
|
|
Volatility %
|
|
Risk-free rate %
|
|||||
Galena February 2017
|
567
|
|
|
$
|
13.00
|
|
|
4.12
|
|
79.29
|
%
|
|
2.09
|
%
|
Galena Other
|
80
|
|
|
$
|
28.40
|
|
|
3.19
|
|
74.05
|
%
|
|
2.09
|
%
|
Warrant Issuance
|
Warrant liability, December 31, 2017
|
|
Fair value of warrants granted
|
|
Fair value of warrants canceled
|
|
Change in fair value of warrants
|
|
Warrant liability, March 31, 2018
|
||||||||||
Series A Convertible Preferred
|
$
|
—
|
|
|
$
|
2,587
|
|
|
$
|
—
|
|
|
$
|
(1,083
|
)
|
|
$
|
1,504
|
|
Galena February 2017
|
1,305
|
|
|
—
|
|
|
(487
|
)
|
|
(794
|
)
|
|
24
|
|
|||||
Galena Other
|
4
|
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|||||
|
$
|
1,309
|
|
|
$
|
2,587
|
|
|
$
|
(487
|
)
|
|
$
|
(1,881
|
)
|
|
$
|
1,528
|
|
|
Three Months Ended March 31,
|
||||||
|
2018
|
|
2017
|
||||
Research and development
|
$
|
6
|
|
|
$
|
135
|
|
General and administrative
|
16
|
|
|
802
|
|
||
Total stock-based compensation
|
$
|
22
|
|
|
$
|
937
|
|
Risk free interest rate
|
2.71
|
%
|
Volatility
|
80.05
|
%
|
Expected lives (years)
|
6.21
|
|
Expected dividend yield
|
—
|
%
|
|
Total
Number of
Shares
(In Thousands)
|
|
Weighted
Average
Exercise
Price
|
|
Weighted Average Remaining Contractual Term (in years)
|
|
Aggregate
Intrinsic
Value
(In Thousands)
|
|||||
Outstanding at January 1, 2018
|
10
|
|
|
$
|
1,240.55
|
|
|
|
|
$
|
—
|
|
Granted
|
405
|
|
|
5.22
|
|
|
|
|
—
|
|
||
Outstanding at March 31, 2018
|
415
|
|
|
$
|
35.03
|
|
|
9.70
|
|
$
|
—
|
|
Options exercisable at March 31, 2018
|
10
|
|
|
$
|
1,240.55
|
|
|
0.75
|
|
$
|
—
|
|
|
Three Months Ended March 31,
|
||||||||||
|
2018
|
|
2017
|
|
Change
|
||||||
Operating expenses:
|
|
|
|
|
|
||||||
Research and development
|
$
|
1,804
|
|
|
$
|
2,184
|
|
|
$
|
(380
|
)
|
General and administrative
|
3,880
|
|
|
2,287
|
|
|
1,593
|
|
|||
Total operating loss and loss from operations
|
(5,684
|
)
|
|
(4,471
|
)
|
|
1,213
|
|
|||
Non-operating income (expense)
|
(2,311
|
)
|
|
(130
|
)
|
|
2,181
|
|
|||
Net loss
|
$
|
(7,995
|
)
|
|
$
|
(4,601
|
)
|
|
$
|
(3,394
|
)
|
|
Three Months Ended March 31,
|
||||||||||
|
2018
|
|
2017
|
|
Change
|
||||||
Change in fair value of warrant liability
|
$
|
1,881
|
|
|
$
|
—
|
|
|
$
|
1,881
|
|
Change in fair value of the contingent consideration
|
(3,411
|
)
|
|
—
|
|
|
(3,411
|
)
|
|||
Loss on settlement of liability-classified warrants
|
(685
|
)
|
|
—
|
|
|
(685
|
)
|
|||
Interest expense, net
|
(96
|
)
|
|
(130
|
)
|
|
34
|
|
|||
Total non-operating income (expense), net
|
$
|
(2,311
|
)
|
|
$
|
(130
|
)
|
|
$
|
(2,181
|
)
|
|
For the Three Months Ended March 31,
|
||||||
|
2018
|
|
2017
|
||||
Net cash (used in) provided by:
|
|
|
|
||||
Operating activities
|
(5,403
|
)
|
|
(3,803
|
)
|
||
Financing activities
|
4,739
|
|
|
—
|
|
||
Total decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents
|
$
|
(664
|
)
|
|
$
|
(3,803
|
)
|
Exhibit
#
|
Description
|
Form
|
Exhibit
|
|
Filing Date
|
3.1
|
10-K
|
3.1
|
|
April 13, 2018
|
|
3.2
|
8-K
|
3.1
|
|
March 12, 2018
|
|
3.3
|
8-K
|
3.3
|
|
January 5, 2018
|
|
10.1
|
10-K
|
10.73
|
|
April 13, 2018
|
|
10.2
|
10-K
|
10.74
|
|
April 13, 2018
|
|
10.3
|
10-K
|
10.75
|
|
April 13, 2018
|
|
10.4
|
10-K
|
10.76
|
|
April 13, 2018
|
|
10.5
|
10-K
|
10.77
|
|
April 13, 2018
|
|
10.6
|
10-K
|
10.78
|
|
April 13, 2018
|
|
10.7
|
10-K
|
10.79
|
|
April 13, 2018
|
|
10.8
|
10-K
|
10.80
|
|
April 13, 2018
|
|
10.9
|
10-K
|
10.81
|
|
April 13, 2018
|
|
10.10
|
10-K
|
10.82
|
|
April 13, 2018
|
|
10.11
|
10-K
|
10.83
|
|
April 13, 2018
|
|
10.12
|
10-K
|
10.84
|
|
April 13, 2018
|
|
10.13
|
10-K
|
10.85
|
|
April 13, 2018
|
|
10.14
|
10-K
|
10.86
|
|
April 13, 2018
|
|
10.15
|
10-K
|
10.87
|
|
April 13, 2018
|
|
10.16
|
8-K
|
10.1
|
|
March 12, 2018
|
*
|
Filed herewith
|
**
|
The certification attached as Exhibit 32.1 accompany this quarterly report on Form 10-Q pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and shall not be deemed “filed” by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference into any filing of the registrant under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof, regardless of any general incorporation language in such filing
.
|
†
|
Indicates management contract or compensatory plan or arrangement.
|
|
SELLAS Life Sciences Group, Inc.
|
||
|
|
|
|
|
By:
|
|
/s/ Angelos M. Stergiou
|
|
|
|
|
|
|
|
Angelos M. Stergious, MD, ScD h.c.
|
|
|
|
President and Chief Executive Officer
|
|
|
|
|
|
|
|
Date: May 15, 2018
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Gene Mack
|
|
|
|
|
|
|
|
Gene Mack
|
|
|
|
Chief Financial Officer
|
|
|
|
|
|
|
|
Date: May 15, 2018
|
By:
|
/s/ Angelos M. Stergiou
|
|
|
|
|
Name:
|
Angelos M. Stergious, MD, ScD h.c.
|
|
Title:
|
President and Chief Executive Officer
|
|
EQUILIBRIA CAPITAL MANAGEMENT LIMITED
|
|||
|
|
|
|
By:
|
|
/s/ Daniel Tafur
|
|
Name:
|
|
Daniel Tafur
|
|
Title:
|
|
Chief Investment Officer
|
|
|
|
|
|
EQC PRIVATE MARKETS SAC FUND LTD EQC
|
|||
BIOTECH SELY S FUND
|
|
||
|
|
|
|
By:
|
|
/s/ Daniel Tafur
|
|
Name:
|
|
Daniel Tafur
|
|
Title:
|
|
Director
|
|
|
|
|
|
EQC PRIVATE MARKETS SAC FUND LTD EQC
|
|||
BIOTECH SELY I FUND
|
|
||
|
|
|
|
By:
|
|
/s/ Daniel Tafur
|
|
Name:
|
|
Daniel Tafur
|
|
Title:
|
|
Director
|
|
|
|
|
|
EQC PRIVATE MARKETS SAC FUND LTD EQC
|
|||
BIOTECH SELY II FUND
|
|
||
|
|
|
|
By:
|
|
/s/ Daniel Tafur
|
|
Name:
|
|
Daniel Tafur
|
|
Title:
|
|
Director
|
|
|
|
|
|
EQC PRIVATE MARKETS SAC FUND LTD EQC
|
|||
BIOTECH SELY III FUND
|
|
||
|
|
|
|
By:
|
|
/s/ Daniel Tafur
|
|
Name:
|
|
Daniel Tafur
|
|
Title:
|
|
Director
|
|
|
|
|
|
VARIBOBI FINANCIAL HOLDINGS LTD
|
|||
|
|
|
|
By:
|
|
/s/ Fabio Lobez
|
|
Name:
|
|
Fabio Lopez
|
|
Title:
|
|
Sole Owner
|
|
|
/s/ Angelos M. Stergiou
|
|
|
|
Angelos M. Stergious, MD, ScD h.c.
|
|
President and Chief Executive Officer
|
|
/s/ Gene Mack
|
|
|
|
Gene Mack
|
|
Chief Financial Officer
|
|
By:
|
|
/s/ Angelos M. Stergiou
|
|
|
|
|
|
|
|
Angelos M. Stergious, MD, ScD h.c.
|
|
|
|
President and Chief Executive Officer
|
|
|
|
|
|
|
|
Date: May 15, 2018
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Gene Mack
|
|
|
|
|
|
|
|
Gene Mack
|
|
|
|
Chief Financial Officer
|
|
|
|
|
|
|
|
Date: May 15, 2018
|