XML 19 R6.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (33,694) $ (34,203) $ (29,698)
Adjustments required to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 4,328 4,276 2,772
Depreciation 482 461 715
Increase (decrease) in severance pay, net (81) (101) 184
Loss (gain) from property and equipment sales and disposals 12 (3) (12)
Decrease (increase) in interest receivables from short-term bank deposits (584) 469 (532)
Decrease (increase) in trade receivables 0 2,000 (2,000)
Decrease (increase) in other accounts receivable and prepaid expenses 3,043 (2,802) (1,613)
Decrease (increase) in long-term prepaid expenses 12 (31) (1,187)
Decrease in operating lease right of use asset 658 525 475
Increase (decrease) in trade payables and other accounts payable and accrued expenses (1,601) 3,367 3,817
Increase (decrease) in deferred participation in R&D expenses (6,019) 3,708 (829)
Decrease in operating lease liability (1,062) (416) (412)
Net cash used in operating activities (34,506) (22,750) (28,320)
Cash flows from investing activities:      
Proceeds from maturity of short-term bank deposits 114,445 136,850 70,300
Investment in short-term bank deposits (76,900) (129,945) (152,350)
Purchase of property and equipment (477) (292) (166)
Costs of disposal of property and equipment (10) 0 0
Proceeds from sale of property and equipment 2 3 44
Net cash provided by (used in) investing activities 37,060 6,616 (82,172)
Cash flows from financing activities:      
Proceeds from issuance of ordinary shares, net 0 14,958 74,147
Proceeds from exercise of warrants 0 425 18,325
Proceeds from exercise of stock-based awards 353 1,455 15,991
Net cash provided by financing activities 353 16,838 108,463
Increase (decrease) in cash, cash equivalents and restricted cash 2,907 704 (2,029)
Cash, cash equivalents and restricted cash at the beginning of the year 8,514 7,810 9,839
Cash and cash equivalents and restricted cash at the end of the year 11,421 8,514 7,810
Supplemental disclosure of non-cash investing and financing activities:      
Purchase of property and equipment 117 116 16
Right-of-use asset obtained in exchange for operating lease liability 237 0 (194)
Cash paid (received) during the year for:      
Interest payments received from short-term bank deposits and cash equivalents 852 1,364 1,232
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 11,059 7,801 7,143
Restricted cash 362 713 667
Total cash, cash equivalents and restricted cash $ 11,421 $ 8,514 $ 7,810