XML 15 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Consolidated net loss $ (15,487) $ (11,952)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 178 80
Stock-based compensation 740 619
(Accretion) amortization of (discount) premium of available-for-sale investment securities (811) (419)
Amortization of right-of-use assets 592 675
Changes in operating assets and liabilities:    
Other receivables 454 9,883
Prepaid expenses and other assets (7,553) (438)
Accounts payable and accrued expenses (228) (1,057)
Operating lease liability (265) 2,019
Net cash used in operating activities (22,380) (590)
Cash flows from investing activities:    
Purchases of property and equipment (17) (1,246)
Purchases of available-for-sale investment securities (21,339) (46,226)
Maturities of available-for-sale investment securities 20,000 9,300
Net cash used in by investing activities (1,356) (38,172)
Cash flows from financing activities:    
Proceeds from issuance of common stock from at-the-market offerings, net of offering costs 7,851 1,489
Proceeds from issuance of common stock from underwritten follow-on public offering, net of offering costs 0 48,073
Principal paid on finance lease liabilities (121) (66)
Net cash provided by financing activities 7,730 49,496
Net change in cash, cash equivalents and restricted cash (16,006) 10,734
Cash, cash equivalents and restricted cash at beginning of period 26,028 13,146
Cash, cash equivalents and restricted cash at end of period 10,022 23,880
Cash and cash equivalents at the end of period 6,808 20,690
Restricted cash at the end of period 3,214 3,190
Cash, cash equivalents and restricted cash at the end of period 10,022 23,880
Supplemental disclosure of cash flow information:    
Interest paid 38 46
Purchases of property and equipment in accounts payable 34 2,136
Right-of-use assets obtained in exchange for lease obligation $ 0 $ 1,043