Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (17,628) $ (17,363)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 288 244
Stock based compensation expense 3,676 3,888
Amortization of operating lease right-of-use assets 406 413
Amortization of finance lease right-of-use assets 7 15
Amortization of bond discount 90 158
Stock issued pursuant to license agreement amendment 291
Changes in operating assets and liabilities:    
Operating lease liabilities (411) (391)
Prepaid expenses and other current assets 3,996 (2,676)
Accounts payable 217 (282)
Accrued expenses and other liabilities (1,340) 846
Net cash used in operating activities (10,699) (14,857)
Cash flows from investing activities:    
Purchase of marketable debt securities (9,481)
Proceeds from maturities of marketable debt securities 10,500 15,250
Purchases of leasehold improvements and equipment (218) (850)
Net cash provided by investing activities 10,282 4,919
Cash flows from financing activities:    
Proceeds from exercise of options 99
Payments of finance lease liability – principal (6) (15)
Net cash (used in)/provided by financing activities (6) 84
Net decrease in cash, cash equivalents and restricted cash (423) (9,854)
Cash, cash equivalents and restricted cash at beginning of period 7,080 21,280
Cash, cash equivalents and restricted cash at end of period 6,657 11,426
Supplemental non-cash financing and investing activities:    
Unrealized gain/(loss) on marketable debt securities 465 (790)
Right of use asset in exchange from liabilities from operating lease $ (64)