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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities    
Net loss $ (22,811,000) $ (16,011,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,000 9,000
Amortization of operating lease asset 178,000 173,000
Goodwill impairment 0 1,867,000
Warrant inducement expense 4,829,000  
Stock-based compensation 3,171,000 1,308,000
Deferred income taxes (404,000)  
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 39,000 354,000
Accounts payable and accrued expenses (39,000) (1,392,000)
Operating lease liability (180,000) (165,000)
Net cash used in operating activities (15,212,000) (13,857,000)
Investing activities    
Cash and cash equivalents received from acquisition 11,035,000  
Net cash provided by investing activities 11,035,000  
Financing activities    
Proceeds from issuance of common stock, net 9,000,000 9,676,000
Proceeds from issuance of non-voting preferred stock in connection with PIPE transaction, net 95,226,000  
Proceeds from exercise of warrants, net 5,380,000  
Cash paid for cancellation of common stock in connection with reverse split (25,000)  
Net cash provided by financing activities 109,581,000 9,676,000
Net change in cash and cash equivalents 105,404,000 (4,181,000)
Cash and cash equivalents at beginning of year 8,791,000 12,972,000
Cash and cash equivalents at end of year 114,195,000 $ 8,791,000
Supplemental disclosure of non-cash investing and financing activities    
Conversion of Series X1 preferred stock into common stock 13,000  
Issuance of common stock in acquisition 1,194,000  
Issuance of non-voting convertible preferred stock in acquisition 69,723,000  
Fair value of options assumed in acquisition 2,950,000  
Fair value of warrants assumed in acquisition 12,944,000  
Accrued offering costs $ 450,000