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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (25,272) $ (20,808)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 32 21
Unrealized foreign currency loss 516 149
Stock-based compensation 1,979 2,069
Changes in operating assets and liabilities:    
Other current assets and prepaid expenses 123 (2,267)
Accounts payable 986 (350)
Accrued expenses 2,072 558
Other liabilities 51 (53)
Net cash used in operating activities (19,513) (20,681)
Cash flows from investing activities:    
Sale of investments - other 5,439 0
Purchases of property and equipment (104) (12)
Net cash provided by (used in) investing activities 5,335 (12)
Cash flows from financing activities:    
Proceeds from public offering of common stock through At The Market Sales Agreement, net 0 29,638
Proceeds from the exercise of pre-funded warrants 51 0
Proceeds from exercise of stock options 0 5
Net cash provided by financing activities 51 29,643
Effect of exchange rate changes on cash and cash equivalents 143 (103)
Net change in cash and cash equivalents (13,984) 8,847
Cash and cash equivalents, beginning of period 106,745 86,863
Cash and cash equivalents, end of period 92,761 95,710
Supplemental disclosure of noncash investing and financing activities:    
Operating lease right-of use asset obtained in exchange for lease liability $ 544 $ 0