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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (11,353,000) $ (16,386,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property and equipment 28,000 30,000
Abandonment of patent and trademark rights 46,000 14,000
Amortization of patent, trademark rights 154,000 150,000
Changes in right of use assets 226,000 151,000
Gain from sale of income tax operating losses (900,000)
Equity-based compensation 490,000 182,000
(Gain) loss on sale of marketable securities (95,000) 201,000
Loss on issuance of warrants 458,000
Amortization of financial obligation 232,000
Change in assets and liabilities:    
Other receivables (9,000)
Funds receivable from New Jersey net operating loss 1,181,000 1,676,000
Prepaid expenses and other current assets and other non-current assets (63,000) 192,000
Lease liability (231,000) (136,000)
Other assets (1,028,000)
Accounts payable (179,000) 2,411,000
Accrued expenses (799,000) 915,000
Net cash used in operating activities (10,933,000) (11,509,000)
Cash flows from investing activities:    
Proceeds from sale of marketable securities 1,597,000 924,000
Purchase of marketable securities (158,000) (1,155,000)
(Purchase of) property and equipment (18,000) (10,000)
Purchase of patent and trademark rights (419,000) (377,000)
Net cash provided by (used in) investing activities 1,002,000 (618,000)
Cash flows from financing activities:    
Proceeds from sale of stock, net of issuance costs 860,000 338,000
Proceeds from note payable, net of issuance costs 2,500,000
Proceeds from issuance of equity warrants 2,047,000
Net cash provided by financing activities 5,407,000 338,000
Net decrease in cash and cash equivalents (4,524,000) (11,789,000)
Cash and cash equivalents at beginning of period 5,439,000 27,053,000
Cash and cash equivalents at end of period 915,000 15,264,000
Supplemental disclosures of non-cash investing and financing cash flow information:    
Operating lease-Right of Use Assets (3,000) 49,000
Unrealized gain (loss) on marketable securities 373,000 (71,000)
Conversion of Series B preferred 6,000
Conversion of note payable interest into shares $ 175,000