2019 Q3 Form 10-Q Financial Statement
#000119312519217994 Filed on August 09, 2019
Income Statement
| Concept | 2019 Q3 | 2019 Q2 | 2018 Q4 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $1.410M | -$790.0K | $2.150M |
| YoY Change | -41.98% | -127.92% | -19.48% |
| % of Gross Profit | |||
| Research & Development | $1.305M | $446.0K | $3.330M |
| YoY Change | -71.37% | -90.0% | -1.19% |
| % of Gross Profit | |||
| Depreciation & Amortization | -$90.00K | $110.0K | $90.00K |
| YoY Change | -190.0% | -45.0% | -74.29% |
| % of Gross Profit | |||
| Operating Expenses | $2.714M | $2.329M | $5.470M |
| YoY Change | -61.17% | -68.03% | -9.29% |
| Operating Profit | -$2.714M | -$2.329M | |
| YoY Change | -61.17% | -68.03% | |
| Interest Expense | $796.1K | $261.6K | $7.420M |
| YoY Change | 4090.22% | 717.38% | -1039.24% |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$20.06M | -$1.210M | -$40.00K |
| YoY Change | -212.86% | -134.51% | -233.33% |
| Pretax Income | -$22.77M | -$440.0K | -$820.0K |
| YoY Change | -311.03% | -88.36% | -87.94% |
| Income Tax | $0.00 | ||
| % Of Pretax Income | |||
| Net Earnings | -$22.77M | -$3.539M | -$820.0K |
| YoY Change | -311.16% | -6.31% | -87.94% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$3.552M | -$40.07K | -$828.3K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 94.60M | 94.60M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 Q3 | 2019 Q2 | 2018 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $15.30M | $2.790M | $15.54M |
| YoY Change | 194.8% | -68.19% | 94.71% |
| Cash & Equivalents | $15.30M | $678.5K | $1.628M |
| Short-Term Investments | $0.00 | ||
| Other Short-Term Assets | $7.520M | $410.0K | $172.0K |
| YoY Change | 806.02% | -53.41% | 40.98% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $22.82M | $3.200M | $1.942M |
| YoY Change | 279.26% | -66.85% | -76.25% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $210.0K | $245.8K | |
| YoY Change | -95.17% | -90.97% | |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $590.0K | $116.3K | |
| YoY Change | 57.33% | -16.91% | |
| Total Long-Term Assets | $800.0K | $0.00 | $512.6K |
| YoY Change | -83.55% | -100.0% | -82.08% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $22.82M | $3.200M | $1.942M |
| Total Long-Term Assets | $800.0K | $0.00 | $512.6K |
| Total Assets | $23.62M | $3.200M | $2.454M |
| YoY Change | 117.1% | -78.88% | -77.76% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $5.790M | $538.0K | $3.278M |
| YoY Change | 242.6% | -75.62% | 322.36% |
| Accrued Expenses | $1.450M | $253.0K | $1.403M |
| YoY Change | -26.51% | -84.87% | -48.14% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $7.484M |
| YoY Change | |||
| Long-Term Debt Due | $20.00K | $0.00 | |
| YoY Change | -100.0% | ||
| Total Short-Term Liabilities | $35.41M | $791.0K | $14.11M |
| YoY Change | 295.95% | -93.21% | 270.82% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $1.080M | $0.00 | $1.017M |
| YoY Change | |||
| Other Long-Term Liabilities | $220.0K | $11.14M | $37.46K |
| YoY Change | -98.11% | -58.63% | -99.8% |
| Total Long-Term Liabilities | $1.300M | $11.14M | $1.054M |
| YoY Change | -88.8% | -58.63% | -94.3% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $35.41M | $791.0K | $14.11M |
| Total Long-Term Liabilities | $1.300M | $11.14M | $1.054M |
| Total Liabilities | $36.71M | $11.93M | $15.16M |
| YoY Change | 78.58% | -69.08% | -32.01% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$229.5M | $31.24M | |
| YoY Change | 1.18% | -115.0% | |
| Common Stock | $220.8M | $215.9M | |
| YoY Change | 8.55% | 9.64% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$13.09M | -$6.106M | -$12.71M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $23.62M | $3.200M | $2.454M |
| YoY Change | 117.08% | -78.88% | -77.76% |
Cashflow Statement
| Concept | 2019 Q3 | 2019 Q2 | 2018 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$22.77M | -$3.539M | -$820.0K |
| YoY Change | -311.16% | -6.31% | -87.94% |
| Depreciation, Depletion And Amortization | -$90.00K | $110.0K | $90.00K |
| YoY Change | -190.0% | -45.0% | -74.29% |
| Cash From Operating Activities | $3.400M | -$3.060M | -$6.940M |
| YoY Change | -149.2% | -41.38% | 60.65% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $0.00 | $0.00 | -$70.00K |
| YoY Change | -100.0% | -100.0% | -53.33% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$2.440M | $110.0K | $0.00 |
| YoY Change | -100.0% | ||
| Cash From Investing Activities | -$2.450M | $110.0K | -$70.00K |
| YoY Change | -410.13% | -107.48% | -109.33% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 25.61M | -1.780M | 17.36M |
| YoY Change | 908.27% | 3460.0% | -11673.33% |
| NET CHANGE | |||
| Cash From Operating Activities | 3.400M | -3.060M | -6.940M |
| Cash From Investing Activities | -2.450M | 110.0K | -70.00K |
| Cash From Financing Activities | 25.61M | -1.780M | 17.36M |
| Net Change In Cash | 26.56M | -4.730M | 10.35M |
| YoY Change | -841.9% | -29.82% | -378.23% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $3.400M | -$3.060M | -$6.940M |
| Capital Expenditures | $0.00 | $0.00 | -$70.00K |
| Free Cash Flow | $3.400M | -$3.060M | -$6.870M |
| YoY Change | -144.16% | -18.4% | 64.75% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5633000 | ||
| CY2019Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
||
| us-gaap |
Restructuring Charges
RestructuringCharges
|
2789000 | ||
| CY2019Q2 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
||
| us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
750000 | ||
| CY2018Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
858000 | |
| CY2019Q2 | us-gaap |
Assets Current
AssetsCurrent
|
3200000 | |
| CY2018Q4 | us-gaap |
Assets Current
AssetsCurrent
|
16400000 | |
| CY2019Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
3060000 | |
| CY2019Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
||
| CY2018Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
750000 | |
| CY2019Q2 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
||
| CY2018Q2 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-3501000 | |
| CY2019Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2786000 | |
| us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
1412000 | ||
| us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
5252000 | ||
| CY2018Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
137000 | |
| CY2019Q2 | us-gaap |
Assets
Assets
|
3200000 | |
| CY2018Q4 | us-gaap |
Assets
Assets
|
17428000 | |
| CY2019Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
538000 | |
| CY2018Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1590000 | |
| CY2019Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
253000 | |
| CY2019Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-176000 | |
| CY2018Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1000000 | |
| CY2019Q2 | us-gaap |
Deferred Rent Credit Current
DeferredRentCreditCurrent
|
||
| CY2018Q4 | us-gaap |
Deferred Rent Credit Current
DeferredRentCreditCurrent
|
45000 | |
| CY2018Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
3507000 | |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1540000 | ||
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-5233000 | ||
| CY2019Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-3236000 | |
| CY2018Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-3777000 | |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-12651000 | ||
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-18610000 | ||
| CY2019Q2 | us-gaap |
Deferred Revenue Leases Current
DeferredRevenueLeasesCurrent
|
||
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">1. NATURE OF BUSINESS</div></div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:6pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Organization</div></div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:6pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Histogenics Corporation (the “Company”) was incorporated under the laws of the Commonwealth of Massachusetts on June 28, 2000 and has its principal operations in Waltham, Massachusetts. In 2006, the Company’s board of directors approved a corporate reorganization pursuant to which the Company incorporated as a Delaware corporation. The Company historically focused on the development of restorative cell therapies (“RCTs”). RCTs refer to a new class of products that are designed to offer patients rapid-onset pain relief and restored function through the repair of damaged or worn tissue. The Company’s lead product, NeoCart<div style="font-size:11.3333px; vertical-align:top;vertical-align: super;font-size: smaller;display:inline;">®</div>, is an innovative cell therapy designed to treat tissue injury in the field of orthopedics, specifically cartilage damage in the knee. In the third quarter of 2018, the Company announced that its Phase 3 clinical trial of NeoCart did not meet the primary endpoint in the Phase 3 clinical trial. Histogenics subsequently initiated a dialogue with the United States Food and Drug Administration (“FDA”) to discuss the regulatory path forward for NeoCart with a goal of determining whether the FDA would accept a submission of a Biologics License Application (“BLA”) for NeoCart without data from an additional Phase 3 clinical trial. In December 2018, the Company received final feedback from the FDA indicating the need for an additional Phase 3 clinical trial prior to the FDA’s acceptance of a NeoCart BLA submission. However, considering the time and funding required to conduct such a trial, the Company discontinued the development of NeoCart and is not planning to submit a BLA.</div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">In connection with the decision to discontinue the development of NeoCart, the Company’s board of directors engaged a financial advisory firm to help explore its available strategic alternatives, including possible mergers and business combinations, a sale of part or all of its assets, and collaboration and licensing arrangements. On April 5, 2019, the Company and Ocugen, Inc. (“Ocugen”) announced t</div>hat they entered<div style="letter-spacing: 0px; top: 0px;;display:inline;"> into the Merger Agreement, which was subsequently amended on June 14, 2019. Upon the terms and subject to the satisfaction of the conditions described in the Merger Agreement, including approval of the transaction by the Company’s stockholders and Ocugen’s stockholders, a wholly-owned subsidiary of the Company will be merged with and into Ocugen, with Ocugen surviving the Merger as a wholly-owned subsidiary of the Company.</div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt">The proposed Merger is structured as a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">stock-for-stock</div></div> transaction whereby all of Ocugen’s outstanding shares of common stock and securities convertible into or exercisable for Ocugen’s common stock will be converted into the right to receive the Company’s common stock and securities convertible into or exercisable for the Company’s common stock. Under the exchange ratio formula in the Merger Agreement, the former Ocugen equity holders immediately before the Merger are expected to own approximately 83% of the outstanding capital stock of Histogenics, and the stockholders of Histogenics immediately before the Merger are expected to own approximately 17% of the outstanding capital stock of Histogenics, each as calculated immediately prior to an approximately $25 million financing of the combined company contemplated in connection with the closing of the proposed Merger (the “Closing”). The exchange ratio formula includes Ocugen’s outstanding stock options and warrants and Histogenics’ outstanding stock options, warrants and Series A Convertible Preferred Stock.</div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">At the effective time of the Merger (the “Effective Time”), the Company’s board of directors is expected to consist solely of members designated by Ocugen. Following the Closing, Shankar Musunuri is expected to serve as Histogenics’ Chairman of the Board and Chief Executive Officer. Also at the Effective Time, the Company will effect a name change to “Ocugen, Inc.” and it is anticipated that trading for Ocugen’s securities will be listed on The Nasdaq Capital Market under the symbol “OCGN.”</div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">The Merger Agreement contains customary representations, warranties and covenants made by the Company and Ocugen, including covenants relating to obtaining the requisite approvals of the stockholders of the Company and Ocugen, indemnification of directors and officers, and the Company’s and Ocugen’s conduct of their respective businesses between the date of signing of the Merger Agreement and the Closing.</div><div style="background-color: initial; letter-spacing: 0px; font-size: 1px;;display:inline;"> </div></div><div style="font-size: 10pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 10pt; margin-bottom: 0pt; line-height: 12pt;">In connection with the Merger, the Company has prepared and filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">S-4</div> that contains a prospectus/proxy statement/information statement, and is in the process of seeking the approval of the Company’s stockholders with respect to certain actions, including the following (collectively, the “Histogenics Stockholder Matters”):</div><div style="font-size: 6pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 0px; margin-bottom: 0px; background: none;"><div style="background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table style="font-family: "times new roman"; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="break-inside:avoid"><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;width:5%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;vertical-align:top;;width:1%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;"><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; font-family: "times new roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">the Merger Agreement, including the issuance of shares of Histogenics common stock to Ocugen’s stockholders in connection with the transactions contemplated by the Merger Agreement;</div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 0px; margin-bottom: 0px; background: none;"><div style="background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table style="font-family: "times new roman"; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="break-inside:avoid"><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;width:5%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;vertical-align:top;;width:1%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;"><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; font-family: "times new roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">the amendment of Histogenics’ restated certificate of incorporation to effect a reverse split of all outstanding shares of the Company’s common stock at a reverse stock split ratio as mutually agreed to by Histogenics and Ocugen;</div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 0px; margin-bottom: 0px; background: none;"><div style="background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table style="font-family: "times new roman"; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="break-inside:avoid"><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;width:5%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;vertical-align:top;;width:1%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;"><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; font-family: "times new roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">the amendment of Histogenics’ restated certificate of incorporation to effect an increase in the number of authorized shares of the Company’s common stock from 100,000,000 to 200,000,000;</div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 0px; margin-bottom: 0px; background: none;"><div style="background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table style="font-family: "times new roman"; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="break-inside:avoid"><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;width:5%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;vertical-align:top;;width:1%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;"><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; font-family: "times new roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">the amendment of Histogenics’ restated certificate of incorporation to change the Company’s name to “Ocugen, Inc.” following the Effective Time; and</div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 0px; margin-bottom: 0px; background: none;"><div style="background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table style="font-family: "times new roman"; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="break-inside:avoid"><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;width:5%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;vertical-align:top;;width:1%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;"><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; font-family: "times new roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">the change of control of the Company resulting from the Merger pursuant to pertinent Nasdaq rules.</div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">The Closing is subject to satisfaction or waiver of certain conditions including, among other things, (i) the required approvals by the parties’ stockholders, (ii) the accuracy of the representations and warranties, subject to certain materiality qualifications, (iii) compliance by the parties with their respective covenants, (iv) no law or order preventing the Merger and related transactions, and (v) the listing of the Shares on The Nasdaq Capital Market.</div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">The Merger Agreement contains certain termination rights for both Histogenics and Ocugen, and further provides that, upon termination of the Merger Agreement under specified circumstances, Histogenics may be required to pay to Ocugen a termination fee of $0.6 million or Ocugen may be required to pay to Histogenics a termination fee of $0.7 million, and in other circumstances each party may be required to reimburse the other party’s expenses incurred, up to a maximum of $0.3 million. In the six months ended June 30, 2019, Ocugen paid the Company $0.1 million per the terms of the Merger Agreement as reimbursement of certain expenses related to the Merger.</div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">In connection with the execution of the Merger Agreement, the executive officers and directors of the Company entered into voting agreements with Ocugen and Histogenics relating to the Merger covering less than one percent of the outstanding capital stock of Histogenics, as of date of the Merger Agreement (the “Histogenics Voting Agreements”). The Histogenics Voting Agreements provide, among other things, that the stockholders who are parties to the Histogenics Voting Agreements will vote all of the shares held by them in favor of Histogenics Stockholder Matters and against any competing acquisition proposals. The Histogenics Voting Agreements also place certain restrictions on the transfer of the shares of Histogenics held by the respective signatories thereto.</div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">In connection with the execution of the Merger Agreement, certain officers, directors, stockholders and noteholders of Ocugen entered into voting agreements with Histogenics and Ocugen covering approximately 68% of the outstanding capital stock of Ocugen as of date of the Merger Agreement (the “Ocugen Voting Agreements”). The Ocugen Voting Agreements provide, among other things, that the officers, stockholders and investors party to the Ocugen Voting Agreements will vote all of the shares of Ocugen held by them in favor of the adoption of the Merger Agreement, the approval of the Merger and the other transactions contemplated by the Merger Agreement and against any competing acquisition proposals. The Ocugen Voting Agreements also place certain restrictions on the transfer of the shares of Ocugen held by the respective signatories thereto.</div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt">Concurrently with the execution of the Merger Agreement, the officers and directors of Histogenics and the officers, directors and certain stockholders of Ocugen entered into <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">lock-up</div> agreements, pursuant to which they accepted certain restrictions on transfers of any shares of Histogenics’ common stock for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">180-day</div> period following the Effective Time.</div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Although the Company has entered into the Merger Agreement and intends to consummate the proposed Merger, there is no assurance that it will be able to successfully consummate the proposed Merger on a timely basis, or at all. If, for any reason, the proposed Merger is not completed, Histogenics will reconsider its strategic alternatives and could pursue one or more of the following courses of action:</div></div><div style="font-size: 6pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 0px; margin-bottom: 0px; background: none;"><div style="background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table style="font-family: "times new roman"; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="break-inside:avoid"><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;width:5%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;vertical-align:top;;width:1%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;"><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; font-family: "times new roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Pursue potential collaborative, partnering or other strategic arrangements for our NeoCart assets, including a sale or other divestiture.</div></div> Although Histogenics has discontinued further development of the NeoCart program and does not currently have any plans to resume the development of NeoCart, the Company initiated and evaluated several collaborative, partnering or other strategic arrangements for the NeoCart assets, including a sale or other divestiture of such assets. On May 8, 2019, the Company entered into an asset purchase agreement with Medavate Corp., a Colorado corporation (the “Asset Purchase Agreement”), pursuant to which the Company has agreed to sell substantially all of its assets relating to its NeoCart program, including, without limitation, intellectual property, business and license agreements and clinical trial data (the “Assets”) in return for a cash payment of $6.5 million. The closing of the sale of the Assets is subject to and conditioned upon the consummation of the planned Merger with Ocugen following the vote of the Company’s stockholders approving such transaction as contemplated by the Merger Agreement.</div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 0px; margin-bottom: 0px; background: none;"><div style="background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table style="font-family: "times new roman"; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="break-inside:avoid"><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;width:5%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;vertical-align:top;;width:1%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;"><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; font-family: "times new roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Pursue another strategic transaction like the proposed Merger.</div></div> The Company’s board of directors may elect to pursue an alternative strategy, one of which may be a strategic transaction similar to the proposed Merger.</div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 0px; margin-bottom: 0px; background: none;"><div style="background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table style="font-family: "times new roman"; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="break-inside:avoid"><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;width:5%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;vertical-align:top;;width:1%;"> </td><td style="padding-left: 0px; padding-top: 0px; padding-bottom: 0px;;text-align:left;;vertical-align:top;"><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; font-family: "times new roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Dissolve and liquidate the Company’s assets.</div></div> If, for any reason, the proposed Merger is not consummated and the Company is unable to identify and complete an alternative strategic transaction like the Merger or potential collaborative, partnering or other strategic arrangements for the NeoCart assets, the Company may be required to dissolve and liquidate its assets. In such case, Histogenics would be required to pay all of its debts and contractual obligations, and to set aside certain reserves for potential future claims, and there can be no assurances as to the amount or timing of available cash left to distribute to stockholders after paying debts and other obligations and setting aside funds for reserves.</div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Since its inception, the Company has devoted substantially all of its efforts to product development, recruiting management and technical staff, raising capital, starting up production and building infrastructure and has not yet generated product revenues. Expenses have primarily been for research and development and related administrative costs.</div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;">The Company is subject to a number of risks including the successful development of therapeutics, the ability to obtain adequate financing, the ability to obtain FDA approval and reimbursement for any products we may develop, protection of intellectual property, fluctuations in operating results, dependence on key personnel and collaborative partners, rapid technological changes inherent in the target markets of any products the Company may develop, the introduction of substitute products and competition from larger companies.</div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:18pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Liquidity</div></div></div><div style="color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 6pt; margin-bottom: 0pt; font-size: 10pt;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman", times, serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">The consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying consolidated financial statements, the Company has incurred losses and cash flow deficits from operations since inception, resulting in an accumulated deficit at June </div></div></div><div style="letter-spacing: 0px; top: 0px;;display:inline;"></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman", times, serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">30, 2019 of $229.5 million. The Company has financed operations to date primarily through public and private placements of equity securities, and borrowings under debt agreements. The Company anticipates that it will continue to incur net losses for the foreseeable future. The Company believes that its existing cash and cash equivalents will only be sufficient to fund its projected cash needs through the closing of the Merger which is expected in the third quarter of 2019. Accordingly, these factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern and its ability to complete the proposed Merger with Ocugen should there be a delay in the Closing. If Histogenics needs to raise additional capital to complete the Merger, the Company would need to pursue a debt or equity financing or other strategic transactions. However, any such financing may not be on favorable terms or available to the Company, if at all. The failure of the Company to obtain sufficient funds on commercially acceptable terms when needed will have a material adverse effect on the Company’s business, results of operations and financial condition and could result in the need to pursue an immediate dissolution of the Company. The forecast of cash resources is forward-looking information that involves risks and uncertainties, and the actual amount of our expenses could vary materially and adversely as a result of a number of factors. The Company has based its estimates on assumptions that may prove to be wrong, and the Company’s expenses could prove to be significantly higher than it currently anticipates.</div></div></div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:18pt; margin-bottom:0pt"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Basis of Accounting</div></div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-indent:0px; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:6pt; margin-bottom:0pt">The consolidated financial statements are unaudited and have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). However, they do not include all of the information and footnotes required by GAAP for complete financial statements. These interim consolidated financial statements, in the opinion of the Company’s management, reflect all normal recurring adjustments necessary for a fair presentation of the Company’s financial position and results of operations for the interim periods ended June 30, 2019 and 2018. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. These interim financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2018, and the notes thereto, which are included in the Company’s Annual Report on Form <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">10-K,</div> filed with the Securities and Exchange Commission (the “SEC”) on March 22, 2019.</div><div style="font-size: 1px; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 0px; margin-bottom: 0px; background: none;"><div style="background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-size: 10pt; color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin-top: 6pt; margin-bottom: 0pt; line-height: 12pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, ProChon and Histogenics Securities Corporation. All significant intercompany accounts and transactions are eliminated in consolidation.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
| CY2018Q4 | us-gaap |
Deferred Revenue Leases Current
DeferredRevenueLeasesCurrent
|
238000 | |
| CY2019Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
791000 | |
| CY2018Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
15542000 | |
| CY2019Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
414000 | |
| CY2018Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
7284000 | |
| us-gaap |
Operating Expenses
OperatingExpenses
|
11111000 | ||
| us-gaap |
Operating Expenses
OperatingExpenses
|
13377000 | ||
| CY2019Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3060000 | |
| CY2018Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-7284000 | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-11111000 | ||
| CY2018Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
2873000 | |
| CY2019Q2 | us-gaap |
Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
|
1125000 | |
| CY2018Q4 | us-gaap |
Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
|
1125000 | |
| CY2019Q2 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
10000000 | |
| CY2018Q4 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
10000000 | |
| CY2019Q2 | us-gaap |
Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
|
||
| CY2018Q4 | us-gaap |
Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
|
351000 | |
| CY2019Q2 | us-gaap |
Incentive From Lessor
IncentiveFromLessor
|
||
| CY2018Q4 | us-gaap |
Incentive From Lessor
IncentiveFromLessor
|
1025000 | |
| CY2019Q2 | us-gaap |
Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
|
15000 | |
| CY2019Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-13377000 | ||
| CY2019Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
7000 | |
| CY2018Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
32000 | |
| us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
55000 | ||
| us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
69000 | ||
| CY2018Q4 | us-gaap |
Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
|
2512000 | |
| CY2019Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
92000 | |
| CY2018Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-26000 | |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
87000 | ||
| CY2019Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2018Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2019Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
30000 | |
| CY2018Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
30000 | |
| CY2019Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
400.4910 | |
| CY2018Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
400.4910 | |
| CY2019Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
400.4910 | |
| CY2018Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
400.4910 | |
| CY2019Q2 | us-gaap |
Liabilities
Liabilities
|
11931000 | |
| CY2018Q4 | us-gaap |
Liabilities
Liabilities
|
17886000 | |
| CY2019Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
| CY2019Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
839000 | |
| CY2018Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
513000 | |
| CY2019Q2 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
219911000 | |
| CY2018Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
215859000 | |
| CY2019Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-229481000 | |
| CY2018Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-216830000 | |
| CY2019Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-8731000 | |
| CY2019Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
3200000 | |
| CY2018Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
17428000 | |
| CY2018Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2019Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
| CY2018Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
| CY2019Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
94599601 | |
| CY2019Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
94599601 | |
| CY2018Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
62025398 | |
| CY2018Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
62025398 | |
| CY2019Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
||
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
|||
| CY2019Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
446000 | |
| CY2018Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4458000 | |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2029000 | ||
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7744000 | ||
| CY2019Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2614000 | |
| CY2018Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2826000 | |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5543000 | ||
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-50000 | ||
| CY2019Q2 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
5000 | |
| us-gaap |
Sale Of Stock Percentage Of Ownership Before Transaction
SaleOfStockPercentageOfOwnershipBeforeTransaction
|
0.17 | ||
| hsgx |
Transfer Of Shares Restriction Period
TransferOfSharesRestrictionPeriod
|
P180D | ||
| CY2019Q2 | hsgx |
Money Market Funds Fair Value
MoneyMarketFundsFairValue
|
11000 | |
| CY2019Q2 | hsgx |
Warrant Liability Fair Value
WarrantLiabilityFairValue
|
15000 | |
| CY2018Q4 | hsgx |
Money Market Funds Fair Value
MoneyMarketFundsFairValue
|
9711000 | |
| CY2018Q4 | hsgx |
Warrant Liability Fair Value
WarrantLiabilityFairValue
|
2512000 | |
| us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
900000 | ||
| CY2019Q2 | hsgx |
Deferred License Agreement Cost
DeferredLicenseAgreementCost
|
800000 | |
| CY2019Q2 | us-gaap |
Liabilities Subject To Compromise Early Contract Termination Fees
LiabilitiesSubjectToCompromiseEarlyContractTerminationFees
|
700000 | |
| CY2019Q2 | us-gaap |
Liabilities Subject To Compromise Other Liabilities
LiabilitiesSubjectToCompromiseOtherLiabilities
|
300000 | |
| CY2018Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
100000 | |
| us-gaap |
Valuation Allowance For Impairment Of Recognized Servicing Assets Aggregate Write Downs
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsAggregateWriteDowns
|
0 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1431000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-747000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-1071000 | ||
| CY2019Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3236000 | |
| CY2018Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3777000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-12651000 | ||
| CY2019Q2 | hsgx |
Net Income Loss Available To Series A Preferred Stock
NetIncomeLossAvailableToSeriesAPreferredStock
|
-6000 | |
| CY2018Q2 | hsgx |
Net Income Loss Available To Series A Preferred Stock
NetIncomeLossAvailableToSeriesAPreferredStock
|
-80000 | |
| hsgx |
Net Income Loss Available To Series A Preferred Stock
NetIncomeLossAvailableToSeriesAPreferredStock
|
-26000 | ||
| CY2019Q2 | hsgx |
Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
|
-3230000 | |
| CY2018Q2 | hsgx |
Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
|
-3697000 | |
| hsgx |
Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
|
-12625000 | ||
| CY2019Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
94599601000 | |
| CY2018Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
28740030000 | |
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
87580850000 | ||
| CY2019Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.03 | |
| CY2018Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.13 | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.14 | ||
| CY2019Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
||
| CY2018Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
10427000 | |
| CY2019Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
||
| CY2018Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
10286000 | |
| CY2019Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
||
| CY2018Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
141000 | |
| CY2019Q2 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
200000 | |
| CY2018Q2 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
400000 | |
| us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
600000 | ||
| us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
800000 | ||
| us-gaap |
Profit Loss
ProfitLoss
|
-12651000 | ||
| us-gaap |
Profit Loss
ProfitLoss
|
-18610000 | ||
| us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
-750000 | ||
| hsgx |
Deferred Rent And Lease Incentive
DeferredRentAndLeaseIncentive
|
|||
| hsgx |
Deferred Rent And Lease Incentive
DeferredRentAndLeaseIncentive
|
-814000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
144000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
810000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-386000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
687000 | ||
| hsgx |
Increase Decrease In Other Assets And Accrued Lease Obligation Net
IncreaseDecreaseInOtherAssetsAndAccruedLeaseObligationNet
|
202000 | ||
| hsgx |
Increase Decrease In Other Assets And Accrued Lease Obligation Net
IncreaseDecreaseInOtherAssetsAndAccruedLeaseObligationNet
|
188000 | ||
| us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
|||
| us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
10000000 | ||
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.64 | ||
| us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
2000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
|||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
2000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1454000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1051000 | ||
| us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
326000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-11549000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1927000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
|||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2734000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
110000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1834000 | ||
| us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
|||
| us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
178000 | ||
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
|||
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
5732000 | ||
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
|||
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
106000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
5452000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-12893000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1691000 | ||
| CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
15679000 | |
| CY2017Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
7218000 | |
| CY2019Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2786000 | |
| CY2018Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
8909000 | |
| us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
|||
| us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
854000 | ||
| CY2018 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.34 | |
| us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | ||
| CY2018 | hsgx |
Tax Cuts And Jobs Act Of Twenty Seventeen Limitation Of Net Operating Loss Deduction Percentage Of Annual Taxable Income
TaxCutsAndJobsActOfTwentySeventeenLimitationOfNetOperatingLossDeductionPercentageOfAnnualTaxableIncome
|
0.80 | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | ||
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3339471 | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
2945154 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0.74 | ||
| CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
394317 | |
| CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | |
| CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
375592 | |
| CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
3.23 | |
| CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
0 | |
| CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
368484 | |
| CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
3.24 | |
| CY2019Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
0 | |
| CY2019Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
36000 | |
| CY2018Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
408000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
144000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
810000 | ||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
2.09 | ||
| CY2019Q2 | hsgx |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageGrantDateFairValue
|
2.09 | |
| hsgx |
Beneficial Ownership Minimum Percentage Of Outstanding Common Stock
BeneficialOwnershipMinimumPercentageOfOutstandingCommonStock
|
0.50 | ||
| CY2019Q2 | us-gaap |
Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
|
8400000 | |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | |
| CY2018 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y1M6D | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y8M12D | ||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P7Y8M12D | ||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y7M6D | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-18610000 | ||
| hsgx |
Net Income Loss Available To Series A Preferred Stock
NetIncomeLossAvailableToSeriesAPreferredStock
|
-486000 | ||
| CY2019Q2 | us-gaap |
Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
|
-270000 | |
| us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-25000 | ||
| hsgx |
Payments On Settlement Of Lease Obligations
PaymentsOnSettlementOfLeaseObligations
|
1780000 | ||
| us-gaap |
Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
|
-270000 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
115000 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
322000 | ||
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
100000 | ||
| hsgx |
Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
|
-18124000 | ||
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
28208030000 | ||
| CY2019Q2 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
0 | |
| CY2019Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
94599601 | |
| dei |
Trading Symbol
TradingSymbol
|
HSGX | ||
| dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
MA | ||
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1.03 | |
| CY2019Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.20 | |
| dei |
Security12b Title
Security12bTitle
|
Common Stock | ||
| dei |
Security Exchange Name
SecurityExchangeName
|
NASDAQ | ||
| CY2019Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2018Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2018Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
8772000 | |
| CY2019Q2 | us-gaap |
Restricted Cash
RestrictedCash
|
||
| CY2018Q2 | us-gaap |
Restricted Cash
RestrictedCash
|
137000 | |
| CY2019Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2786000 | |
| CY2018Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
8909000 | |
| us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
25000 | ||
| us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
|||
| us-gaap |
Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
|
|||
| us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
|||
| hsgx |
Payments On Settlement Of Lease Obligations
PaymentsOnSettlementOfLeaseObligations
|
|||
| CY2019Q2 | hsgx |
Share Based Compensation Arrangement By Share Based Payment Award Options For Expiration In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForExpirationInPeriodIntrinsicValue
|
0 | |
| CY2019Q2 | us-gaap |
Security Deposit
SecurityDeposit
|
100000 | |
| us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
|||
| us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
900000 | ||
| us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
110000 | ||
| us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
|||
| CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-458000 | |
| CY2019Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
107000 | |
| CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9415000 | |
| CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-5532000 | |
| CY2019Q1 | hsgx |
Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
|
4234000 | |
| CY2019Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
37000 | |
| CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-11268000 | |
| CY2018Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
403000 | |
| CY2018Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
2000 | |
| CY2018Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
5869000 | |
| CY2018Q1 | hsgx |
Adjustments To Additional Paid In Capital Fees Related To Issuance Of Common Stock
AdjustmentsToAdditionalPaidInCapitalFeesRelatedToIssuanceOfCommonStock
|
243000 | |
| CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14833000 | |
| CY2018Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-20070000 | |
| CY2018Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
407000 | |
| CY2018Q2 | hsgx |
Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
|
2000 | |
| CY2018Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-23438000 | |
| dei |
Document Type
DocumentType
|
10-Q | ||
| dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | ||
| dei |
Amendment Flag
AmendmentFlag
|
false | ||
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2019-06-30 | ||
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2019 | ||
| dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
| dei |
Entity Registrant Name
EntityRegistrantName
|
HISTOGENICS CORP | ||
| dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001372299 | ||
| dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
| dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
| dei |
Entity Shell Company
EntityShellCompany
|
false | ||
| dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
| dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
| dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | ||
| dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false |
