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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net loss $ (10,002) $ (3,816)
Adjustments to reconcile net loss to net cash (used in) operating activities:    
Depreciation 432 443
Foreign exchange (gain) loss 1,582 (383)
Share-based compensation expense 381 705
Changes in operating assets and liabilities:    
Accrued interest receivable (10) (1,155)
Prepaid expenses and other current assets (312) (103)
Accounts payable 8 (1,064)
Accrued expenses 694 602
Income tax payable 25 22
Deferred tax liability 0 (59)
Net cash (used in) operating activities (7,202) (4,808)
Investing activities    
Purchase of property and equipment (255) (6)
Net cash (used in) investing activities (255) (6)
Financing activities    
Proceeds from convertible loan, related party 10,000 0
Proceeds from issuance of common stock under stock option plan 55 0
Net cash provided by financing activities 10,055 0
Effect of foreign exchange rate on cash and cash equivalents (1,582) (8)
Net change in cash and cash equivalents 1,016 (4,822)
Cash and cash equivalents, beginning of period 200,023 157,306
Cash and cash equivalents, end of period 201,039 152,484
Supplemental information:    
Accrued purchases of property and equipment $ 82 $ 14