Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (20,997) $ (23,283)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 337 244
Loss on disposal of equipment 2 2
Stock-based compensation expense 5,228 4,292
Amortization of operating lease right-of-use assets 542 501
Amortization of finance lease right-of-use assets 19 36
Amortization of bond discount 211 250
Stock issued pursuant to license agreement amendment 291
Stock issued pursuant to the Aquarius Merger Agreement charged to Research and Development 1,200
Changes in operating assets and liabilities:    
Operating lease liabilities (520) (460)
Prepaid expenses and other current assets (4,197) 1,350
Accounts payable (321) 588
Accrued expenses and other liabilities 249 57
Net cash used in operating activities (19,156) (15,223)
Cash flows from investing activities:    
Purchases of marketable debt securities (9,481) (23,195)
Proceeds from sales of marketable debt securities 15,250 40,225
Purchases of leasehold improvements and equipment (892) (260)
Net cash provided by investing activities 4,877 16,770
Cash flows from financing activities:    
Net proceeds from public offering of common stock 5,580
Proceeds from exercise of options 99 1,415
Payments of capital lease liability – principal (20) (30)
Net cash provided by financing activities 79 6,965
Net (decrease)/increase in cash, cash equivalents and restricted cash (14,200) 8,512
Cash, cash equivalents and restricted cash at beginning of period 21,280 12,768
Cash, cash equivalents and restricted cash at end of period 7,080 21,280
Supplemental non-cash financing and investing activities:    
Unrealized loss on marketable debt securities (679) (374)
Cash exercise of warrants in prepaid expenses and other current assets (201)
Right-of-use asset in exchange from liabilities from an operating lease modification (64)
Right-of-use asset in exchange from liabilities from operating lease 1,444
Right-of-use asset in exchange from liabilities from finance leases 14
Stock dividends issued 844
Preferred stock conversion into common stock - series B $ 3,798