XML 19 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Cash flows from operating activities:          
Net loss $ (5,529) $ (4,508) $ (12,176)   $ (9,924)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     83   42
Stock-based compensation     705   903
Commitment shares issued to Lincoln Park Capital, LLC       249
Loss on shares sold to Lincoln Park Capital, LLC       11
Non-cash component of acquisition of Exacis in-process research and development       433
Amortization of right-of-use asset     1,036   83
(Gain) loss on disposal of fixed assets     (2)   1
Accrued interest expense     422  
Paid-in-kind interest expense     407  
Amortization of debt discount and debt issuance costs     919  
Change in fair value of warrant liabilities (136) (191) (66)   (146)
Change in fair value of contingent consideration liability     (66)   (118)
Loss on non-controlling investment 8   59
Changes in operating assets and liabilities:          
Other receivables     197   (33)
Prepaid expenses and other current assets     734   214
Other non-current assets     1   (481)
Accounts payable and accrued expenses     1,549   (454)
Operating lease liability     995   (215)
Due to related party     (874)   (875)
Deferred revenue     (95)   250
Other liabilities     225   80
Net cash used in operating activities     (6,006)   (9,921)
Cash flows from investing activities:          
Purchase of property and equipment     (350)  
Proceeds received from the sale of fixed assets     4  
Net cash used in investing activities     (346)  
Cash flows from financing activities:          
Proceeds received from the convertible notes financing     1,405  
Fees paid related to the convertible notes financing     (34)  
Proceeds from sale of common stock pursuant to stock purchase agreement with Lincoln Park Capital Fund, LLC       320
Dividends paid to Series A preferred stockholders     (8)   (8)
Net cash provided by financing activities     1,363   312
Net decrease in cash and cash equivalents     (4,989)   (9,609)
Cash, cash equivalents and restricted cash at beginning of period     11,670 $ 5,932 15,541
Total cash, cash equivalents and restricted cash at end of period 6,681 5,932 6,681 $ 11,670 5,932
Cash paid during the period for:          
Interest     6   13
Income taxes     2   4
Supplemental disclosure of non-cash investing and financing activities:          
Note warrants issued     755  
Unpaid fees incurred in connection with the December 2023 financing     32  
Paid in-kind interest added to convertible notes principal     584  
Adjustment to lease liability and ROU asset due to remeasurement     4,245  
Property and equipment purchased but not paid     18  
Initial measurement of ROU assets       34,410
Initial measurement of lease liability       34,169
Contingent consideration for Exacis asset acquisition       225
Issuance of common stock for Exacis asset acquisition       208
Reconciliation of cash, cash equivalents and restricted cash at end of period:          
Cash and cash equivalents 2,586 1,837 2,586   1,837
Restricted cash $ 4,095 $ 4,095 $ 4,095   $ 4,095