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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
OPERATING CASH FLOW ACTIVITIES:          
Net loss     $ (35,090) $ (106,311)  
Reconciliation of net loss to net cash used in operating activities          
Depreciation $ 77 $ 81 155 161  
Accretion of debt discount and amortization of financing costs 96 356 139 689  
Change in fair value of derivative liabilities     (12,066) (317)  
Stock-based compensation expense     4,490 11,001  
Payable-in-kind interest on Credit Agreement     2,493 803  
Loss on disposal of equipment       2  
Operating lease right-of-use assets     150 142  
Changes in operating assets and liabilities          
Accounts receivable     (741) (183)  
Inventory     (689) 60  
Prepaid expenses, other current assets and other assets     442 (527)  
Accounts payable, accrued expenses, due to related parties, and other current liabilities     664 1,843  
Accrued interest     (657) 2,234  
Operating lease liabilities     (170) (156)  
Net cash used in operating activities     (40,880) (90,559)  
INVESTING CASH FLOW ACTIVITIES:          
Purchases of equipment and leasehold improvements       (20)  
Net cash from investing activities       (20)  
FINANCING CASH FLOW ACTIVITIES:          
Proceeds from issuance of common stock and warrants     32,219 24,657  
Offering costs for common stock and warrants issuance     (281) (739)  
Payment of employee tax obligations related to vesting restricted stock units     (8) (27)  
Exercise of stock options       508  
Net cash provided by financing activities     31,930 24,399  
Net decrease in cash and cash equivalents     (8,950) (66,180)  
Cash and cash equivalents, beginning of the period     65,221 193,725 $ 193,725
Cash and cash equivalents, end of the period $ 56,271 $ 127,545 56,271 127,545 $ 65,221
Supplemental cash flow information:          
Deferred initial public offering costs in accrued expenses       $ 59  
Issuance of stock purchase warrants     $ 224