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v3.25.2

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands | 6 Months Ended
--- | ---
Jun. 30, 2025 | Jun. 30, 2024
Cash flows from operating activities: |  |
Net loss | $ (15,214) | $ (16,192)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Depreciation and amortization | 7 | 53
Equity-based compensation | 1,207 | 2,318
Amortization of right-of-use assets | 99 | 72
Loss on currency translation from liquidation of subsidiary |  | 195
Changes in operating assets and liabilities: |  |
Grant receivables | (3,599) | (1,818)
Prepaid expenses and other assets | 653 | 1,101
Accounts payable and accrued expenses | 539 | 1,348
Deferred grant income and other liabilities | 916 | (248)
Operating lease liabilities | (108) | (70)
Net cash used in operating activities | (15,500) | (13,241)
Cash flows from investing activities: |  |
Payments for property and equipment |  | (3)
Net cash used in investing activities |  | (3)
Cash flows from financing activities: |  |
Proceeds from the exercise of common stock options |  | 65
Payment of employee withholding taxes on vested restricted stock units | (51) | (128)
Payments on loan payable | (238) | (359)
Net cash provided by financing activities | 2,048 | 11,855
Net decrease in cash and cash equivalents | (13,452) | (1,389)
Cash and cash equivalents |  |
Cash, cash equivalents and restricted cash equivalents - beginning of period | 25,009 | 29,922
Cash, cash equivalents and restricted cash equivalents - end of period | 11,557 | 28,533
At The Market Offering |  |
Cash flows from financing activities: |  |
Proceeds from issuance of common stock | $ 2,337 | 381
Follow-on Public Offering |  |
Cash flows from financing activities: |  |
Proceeds from issuance of common stock |  | $ 11,896

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