Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (5,513) $ (5,978)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 93 69
Stock based compensation expense 1,272 1,260
Amortization of operating lease right-of-use assets 132 136
Amortization of finance lease right-of-use assets 4 6
Amortization of bond discount 44 61
Stock issued pursuant to license agreement amendment 291
Changes in operating assets and liabilities:    
Operating lease liabilities (132) (127)
Prepaid expenses and other current assets 2,420 122
Accounts payable (102) 414
Accrued expenses and other liabilities (2,305) (1,010)
Net cash used in operating activities (4,087) (4,756)
Cash flows from investing activities:    
Purchase of marketable debt securities (2,494)
Proceeds from maturities of marketable debt securities 3,000 6,000
Purchases of leasehold improvements and equipment (545)
Net cash provided by investing activities 3,000 2,961
Cash flows from financing activities:    
Proceeds from exercise of options 99
Payments of finance lease liability – principal (4) (6)
Net cash provided by financing activities (4) 93
Net decrease in cash, cash equivalents and restricted cash (1,091) (1,702)
Cash, cash equivalents and restricted cash at beginning of period 7,080 21,280
Cash, cash equivalents and restricted cash at end of period 5,989 19,578
Supplemental non-cash financing and investing activities:    
Unrealized gain/(loss) on marketable debt securities $ 229 $ (484)