Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities:    
Net loss $ (27,467) $ (24,339)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization [note 4] 171 171
Stock-based compensation [note 8[c], note 8[e], note 8[f] and note 8[g]] 4,082 3,449
Shares issued as settlement with trade vendor   273
Accrued interest on 2023 SVB convertible term loan [note 7] 799 910
Amortization of 2024 SVB convertible term loan transaction costs [note 7] 9  
Accretion of discount on modification of debt 365 268
Loss on extinguishment of 2023 SVB convertible term loan 283  
Change in fair value of contingent consideration [note 5 and note 6] 171  
Changes in operating assets and liabilities:    
Grant receivable [note 3] 111 22
Prepaid expenses and other assets (1,539) 618
Accounts payable 393 (1,022)
Accrued liabilities other 547 310
Accrued clinical liabilities 1,465 (739)
Accrued compensation 30 22
Lease obligation [note 9] (1) (58)
Net cash used in operating activities (20,581) (20,115)
Financing Activities:    
Proceeds from exercise of warrants   227
Taxes paid related to net share settlement of equity awards (114) (220)
Proceeds from employee share purchase plan 178  
Repayment of 2023 SVB convertible term loan [Note 7] (18,109)  
Receipt of 2024 SVB convertible term loan [Note 7] 9,814  
Net cash provided by financing activities 47,845 15,278
Investing Activities:    
Purchase of property and equipment   (15)
Purchase of investments (46,957)  
Maturities of investments 13,660  
Net cash used in investing activities (33,297) (15)
Effect of exchange rate changes on cash 1  
Net increase/(decrease) in cash, cash equivalents and restricted cash (6,032) (4,852)
Cash, cash equivalents and restricted cash at beginning of the period 15,596 24,821
Cash, cash equivalents and restricted cash at end of the period 9,564 19,969
November 2022 Private Placement [Member]    
Financing Activities:    
Financing costs relating to November 2022 private placement   (30)
May 2023 Registered Direct Offering [Member]    
Financing Activities:    
Proceeds from registered direct offering, net of issuance costs   $ 15,301
February 2024 Registered Direct Offering [Member]    
Financing Activities:    
Proceeds from registered direct offering, net of issuance costs $ 56,076