GALMED PHARMACEUTICALS LTD. Consolidated Statements of Cash Flows (Unaudited) | ||||||||
U.S. Dollars in thousands | ||||||||
Three months ended March 31, | ||||||||
2019 | 2018 | |||||||
Cash flow from operating activities | ||||||||
Net loss | $ | (3,492) | $ | (2,506) | ||||
Adjustments required to reconcile net loss to net cash used in operating activities | ||||||||
Depreciation and amortization | 9 | 59 | ||||||
Stock-based compensation expense | 416 | 330 | ||||||
Amortization of discount (premium) on marketable debt securities | (39) | 9 | ||||||
Interest income from short-term deposits | (45) | - | ||||||
Loss (gain) from realization of marketable debt securities | (5) | 3 | ||||||
Changes in operating assets and liabilities: | ||||||||
Increase in other accounts receivable | (199) | (210) | ||||||
Decrease in trade payables | (17) | (80) | ||||||
Decrease in other accounts payable | (449) | (802) | ||||||
Decrease in deferred revenue | - | (268) | ||||||
Net cash used in operating activities | (3,821) | (3,465) | ||||||
Cash flow from investing activities | ||||||||
Purchase of property and equipment | (4) | (1) | ||||||
Investment in available for sale securities | (48,717) | (8,185) | ||||||
Consideration from sale of available for sale securities | 65,647 | 1,249 | ||||||
Net cash provided in (used in) investing activities | 16,926 | (6,937) | ||||||
Cash flow from financing activities | ||||||||
Proceeds from exercise of options | 74 | 12 | ||||||
Net cash provided in financing activities | 74 | 12 | ||||||
Decrease (increase) in cash and cash equivalents | 13,179 | (10,390) | ||||||
Cash and cash equivalents at the beginning of the period | 24,159 | 13,021 | ||||||
Cash and cash equivalents at the end of the period | $ | 37,338 | $ | 2,631 | ||||
Supplemental disclosure of cash flow information: | ||||||||
Cash received from interest | $ | 535 | $ | 46 | ||||
Non-cash transactions | ||||||||
Recognition of right-of-use asset and lease liability from adoption of ASU 2016-02 | $ | 679 | $ | - |