Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities:      
Net loss $ (39,827) $ (29,815) $ (42,350)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization [note 5] 229 228 236
Stock-based compensation [note 11[c], note 11[d] and note 11[e]] 5,325 3,439 3,270
Shares issued as settlement with trade vendor   273 26
Accrued interest on SVB convertible debt [note 9] 799 1,216 1,170
Amortization of 2024 SVB convertible term loan transaction costs [note 9] 23    
Accretion of discount on modification of debt [note 9] 365 430  
Loss on extinguishment of 2023 SVB convertible term loan [note 9] 283    
Contigent consideration [note 6 and note 7] 621 528  
Changes in operating assets and liabilities:      
Grant receivable [note 4] 111 (6) 48
Prepaid expenses and other assets (765) 1,176 (931)
Accounts payable 1,332 (1,042) 799
Accrued liabilities other 222 (32) 55
Accrued clinical liabilities 797 (1,449) 376
Accrued compensation 716 633 (263)
Lease obligation (1) (58) (5)
Net cash used in operating activities (29,770) (24,479) (37,569)
Financing Activities:      
Proceeds from exercise of warrants [note 11[g]] 682 227 24
Proceeds from ATM, net of issuance costs [note 11[b]]     1,330
Proceeds from employee stock purchase plan [note 11[e]] 178   126
Taxes paid related to net share settlement of equity awards (114) (220) (47)
Repayment of 2023 SVB convertible term loan [note 7 and note 9] (18,109)    
Receipt of 2024 SVB convertible term loan less transaction costs [note 7 and note 9] 9,814    
Net cash provided by financing activities 48,527 15,278 19,315
Investing Activities:      
Purchase of property and equipment   (21)  
Purchase of investments (47,887)    
Maturities of investments 26,307    
Net cash provided by (used in) investing activities (21,580) (21)  
Effect of exchange rate changes on cash   (3) 3
Net increase (decrease) in cash, cash equivalents and restricted cash (2,823) (9,225) (18,251)
Cash, cash equivalents and restricted cash at beginning of year 15,596 24,821 43,072
Cash, cash equivalents and restricted cash at end of year 12,773 15,596 24,821
November 2022 Private Placement [Member]      
Financing Activities:      
Proceeds from private placement, net of issuance costs [note 11[b]]   (30) $ 17,882
May 2023 Private Placement [Member]      
Financing Activities:      
Proceeds from private placement, net of issuance costs [note 11[b]]   $ 15,301  
February 2024 Registered Direct Offering [Member]      
Financing Activities:      
Proceeds from registered direct offering, net of issuance costs $ 56,076