Quarterly report [Sections 13 or 15(d)]

Statements of Cash Flows (Unaudited)

v3.25.2
Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (5,877) $ (11,108)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 14 9
Stock-based compensation expense 1,134 1,163
Change in fair value of warrant liability (8,722) (5,002)
Amortization of operating lease right of use asset 259 162
Changes in assets and liabilities:    
Prepaid expense and other current assets (2,392) 1,709
Accounts payable and accrued liabilities (1,466) 450
Operating lease liability (273) (158)
Net cash used in operating activities (17,323) (12,775)
Cash flows from investing activities    
Purchases of property and equipment (22) (26)
Net cash used in investing activities (22) (26)
Cash flows from financing activities    
Proceeds from secondary public offering 12,624
Commissions paid on settlement (379)
Payments on financed insurance policies (211) (212)
Issuance costs related to issuance of Series B-1 preferred stock (3,813)
Proceeds from issuance of Series B-1 preferred stock 50,000
Proceeds from exercise of warrants 1,496
Dividends on preferred stock (1,095)
Net cash provided by financing activities 13,530 44,880
Net increase (decrease) in cash and cash equivalents (3,815) 32,079
Cash and cash equivalents at the beginning of the period 26,142 9,701
Cash and cash equivalents at the end of the period 22,327 41,780
Supplemental cash flow information    
Accrued dividends on preferred stock 1
Deferred insurance charges included in prepaid expenses and other current assets 15 15
Deferred preclinical and other charges included in prepaid expenses and other current assets 99
Cash paid for interest 9 36
Cash paid for income taxes