Quarterly report pursuant to Section 13 or 15(d)

Shareholders' (Deficit) / Equity (Tables)

Shareholders' (Deficit) / Equity (Tables)

6 Months Ended

Jun. 30, 2020

Reconciliation of the Company's Beginning and Ending Balances in Shareholders' (Deficit) / Equity

The following tables present a reconciliation of the Company’s beginning and ending balances in shareholders’ (deficit) / equity for the six months ended June 30, 2020 and 2019:

	Total Shareholders' Deficit
Shareholders' deficit at January 1, 2020	$	(26,238	)
Share-based compensation expense		1,783
Issuance of ordinary shares, net		2,564
Issuance of warrants		1,723
Net loss		(28,621	)
Shareholders' deficit at June 30, 2020	$	(48,789	)

	Total Shareholders' Equity
Shareholders' equity at January 1, 2019	$	71,622
Exercise of share options		59
Share-based compensation expense		1,113
Net loss		(48,218	)
Shareholders' equity at June 30, 2019	$	24,576

Schedule of Financial Assets Measured at Fair Value

The following table presents information about the Company’s financial assets that were carried at fair value on a recurring basis on the condensed consolidated balance sheet as of June 30, 2020 and December 31, 2019 and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value.

June 30, 2020
Assets	Total		Level 1		Level 2		Level 3
Other asset – advance payment to supplier	$	3,756		—		—		3,756

December 31, 2019
Assets	Total		Level 1		Level 2		Level 3
Other asset – advance payment to supplier	$	3,884		—		—		3,884

Warrant

Schedule of Financial Assets Measured at Fair Value

The Company has classified the warrants as equity in accordance with ASC 815. The fair value of the warrants were valued at issuance using the Black-Scholes option pricing model with the following assumptions:

	June 5, 2020
Volatility		120	%
Expected term in years	2.50 - 2.75
Dividend rate		0	%
Risk-free interest rate		0.47	%
Share price	$	1.53
Fair value of warrants issued	$0.92 -$1.03