XML 20 R8.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (11,936) $ (8,213)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on disposal of assets 1 0
Impairment loss 0 34
Depreciation 228 234
Stock-based compensation expense 1,304 459
Amortization of premiums on short-term investments 698 0
Change in fair value of derivative financial instruments—warrants (268) 42
Release of clinical trial funding commitment 926 506
Changes in operating assets and liabilities:    
Other assets 141 5
Accounts receivable and unbilled receivable 12 94
Prepaid expenses and other assets 68 0
Operating lease right-of-use assets 165 161
Accounts payable and accrued expenses (1,121) (513)
Operating lease liabilities (461) (418)
Other liabilities 58 (56)
Net cash used in operating activities (10,185) (7,665)
Investing activities:    
Maturities of short-term investments 5,510 0
Purchases of short-term investments (141,948) 0
Sales of short-term investments 5,735 0
Net cash used in investing activities (130,703) 0
Financing activities:    
Proceeds from sales of common stock, preferred stock and warrants, net of expenses of $776 and $93, respectively 19,225 18,802
Costs related to the clinical trial funding commitment 0 (8)
Proceeds from exercise of warrants 1,263 6,126
Borrowings under note payable 0 305
Net cash provided by financing activities 20,488 25,225
Net change in cash and cash equivalents (120,400) 17,560
Cash and cash equivalents—Beginning of period 130,981 10,195
Cash and cash equivalents—End of period 10,581 27,755
Supplementary disclosure of cash flow activity:    
Cash paid for taxes 1 1
Supplemental disclosure of non-cash investing and financing activities:    
Acquisition of property and equipment included in accounts payable and accrued expenses 27 11
Expenses from sales of common stock, preferred stock and warrants included in accounts payable and accrued liabilities 0 523
Expenses from exercise of warrants included in accounts payable and accrued liabilities 0 64
Preferred stock dividend payable on Series A Convertible Preferred Stock 12 12
Series D Convertible Preferred Stock    
Supplemental disclosure of non-cash investing and financing activities:    
Deemed dividend recognized for beneficial conversion features of Convertible Preferred Stock issuance 0 602
Common stock, preferred stock and warrants issued in connection with clinical trial funding commitment 0 2,300
Series E Convertible Preferred Stock    
Supplemental disclosure of non-cash investing and financing activities:    
Deemed dividend recognized for beneficial conversion features of Convertible Preferred Stock issuance $ 0 $ 2,665