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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Net loss $ (28,291) $ (19,307)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on disposal of assets 1 0
Impairment loss 0 34
Depreciation 451 466
Stock-based compensation expense 3,234 1,765
Amortization of premiums on short-term investments 1,607 0
Change in fair value of derivative financial instruments—warrants (285) 281
Release of clinical trial funding commitment 2,032 1,100
Changes in operating assets and liabilities:    
Other assets 166 (246)
Accounts receivable and unbilled receivable (215) (117)
Prepaid expenses and other current assets (2,099) (1,100)
Operating lease right-of-use assets 607 320
Accounts payable and accrued expenses 719 1,276
Operating lease liabilities (811) (857)
Other liabilities (156) 70
Net cash used in operating activities (23,040) (16,315)
Investing activities    
Capital expenditures (205) (211)
Maturities of short-term investments 28,391 0
Purchases of short-term investments (174,385) 0
Sales of short-term investments 14,751 0
Net cash used in investing activities (131,448) (211)
Financing activities    
Proceeds from sale of common stock, preferred stock and warrants, net of expenses of $813 and $7,507 respectively 34,187 112,300
Costs related to the clinical trial funding commitment 0 (8)
Proceeds from exercise of warrants 1,263 24,872
Proceeds from exercise of options 0 148
Borrowings under note payable 0 305
Repayments of note payable 0 (305)
Net cash provided by financing activities 35,450 137,312
Net change in cash and cash equivalents (119,038) 120,786
Cash and cash equivalents—Beginning of period 130,981 10,195
Cash and cash equivalents—End of period 11,943 130,981
Supplementary disclosure of cash flow activity:    
Cash paid for taxes 1 1
Acquisition of property and equipment included in accounts payable and accrued liabilities 6 0
Supplemental disclosure of non-cash investing and financing activities:    
Preferred stock dividend payable on Series A Convertible Preferred Stock 24 24
Series D Convertible Preferred Stock    
Supplemental disclosure of non-cash investing and financing activities:    
Deemed dividend recognized on beneficial conversion features of convertible preferred stock 0 602
Common stock, Series D Convertible Preferred Stock and warrants issued in connection with clinical trial funding commitment, net of discount of $0 and $488, respectively 0 2,300
Series E Convertible Preferred Stock    
Supplemental disclosure of non-cash investing and financing activities:    
Deemed dividend recognized on beneficial conversion features of convertible preferred stock $ 0 $ 2,665