Quarterly report [Sections 13 or 15(d)]

Statements of Cash Flows (Unaudited)

v3.25.1
Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net (loss) income $ 570 $ (20,963)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 8 9
Stock-based compensation expense 563 522
Change in fair value of warrant liability (8,348) 11,808
Amortization of operating lease right of use asset 127 275
Changes in assets and liabilities:    
Prepaid expense and other current assets (2,481) 1,344
Accounts payable and accrued liabilities 791 822
Operating lease liability (133) (273)
Net cash used in operating activities (8,903) (6,456)
Cash flows from investing activities    
Purchases of property, plant, and equipment (16) (6)
Net cash used in investing activities (16) (6)
Cash flows from financing activities    
Payments on financed insurance policies (160) (496)
Issuance costs related to issuance of Series B-1 preferred stock (3,813)
Proceeds from issuance of Series B-1 preferred stock 50,000
Commissions paid on secondary public offering (84)  
Gross Proceeds from secondary public offerings 2,790
Net cash provided by financing activities 2,546 45,691
Net increase in cash and cash equivalents (6,373) 39,229
Cash and cash equivalents at the beginning of the period 26,142 9,701
Cash and cash equivalents at the end of the period 19,769 48,930
Supplemental cash flow information    
Accrued dividends on preferred stock 208
Deferred insurance charges included in prepaid expenses and other current assets 142 146
Deferred preclinical and other charges included in prepaid expenses and other current assets 290 86
Cash paid for interest 6 5
Cash paid for income taxes