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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (5,179) $ (4,089)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on disposal of assets 1 0
Depreciation 119 119
Stock-based compensation expense 268 177
Amortization of premiums on short-term investments 204 0
Change in fair value of derivative financial instruments—warrants (207) (2)
Release of clinical trial funding commitment 380 293
Changes in operating assets and liabilities:    
Other assets 166 1
Accounts receivable and unbilled receivable 79 97
Prepaid expenses and other assets (183) 56
Operating lease right-of-use assets 82 80
Accounts payable and accrued expenses (1,421) 89
Operating lease liabilities (227) (206)
Other liabilities 34 11
Net cash used in operating activities (5,884) (3,374)
Investing activities:    
Purchases of short-term investments (114,195) 0
Sales of short-term investments 2,497 0
Net cash used in investing activities (111,698) 0
Financing activities:    
Proceeds from sales of common stock, preferred stock and warrants, net of expenses of $0 and $634, respectively 0 1,000
Proceeds from exercise of warrants 1,263 1,456
Net cash provided by financing activities 1,263 2,456
Net change in cash and cash equivalents (116,319) (918)
Cash and cash equivalents—Beginning of period 130,981 10,195
Cash and cash equivalents—End of period 14,662 9,277
Supplementary disclosure of cash flow activity:    
Cash paid for taxes 1 1
Supplemental disclosure of non-cash investing and financing activities:    
Preferred stock dividend payable on Series A Convertible Preferred Stock $ 6 $ 6