v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 20,225 $ 15,485
Marketable securities 43,092 27,005
Prepaid expenses and other current assets 10,556 4,165
Total current assets 73,873 46,655
Property and equipment, net 784 910
Operating lease right-of-use assets 2,614 2,811
Other assets 571 740
Total assets 77,842 51,116
Current liabilities:    
Accounts payable 2,964 1,806
Accrued liabilities 6,252 3,610
Current portion of lease liabilities 654 644
Total current liabilities 9,870 6,060
Warrant liabilities 12,194 29,404
Long-term portion of lease liabilities 2,700 2,959
Other liabilities 73 73
Total liabilities 24,837 38,496
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at September 30, 2021 and December 31, 2020
Common stock, $0.0001 par value, 125,000,000 shares authorized, 39,332,721 shares and 27,810,161 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively 4 3
Additional paid-in capital 309,197 252,908
Accumulated other comprehensive loss (43) (21)
Accumulated deficit (256,153) (240,270)
Total stockholders' equity 53,005 12,620
Total liabilities and stockholders' equity $ 77,842 $ 51,116

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v3.21.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating expenses        
Research and development $ 8,664 $ 4,706 $ 24,462 $ 15,354
General and administrative 3,022 2,607 8,722 8,186
Total operating expenses 11,686 7,313 33,184 23,540
Loss from operations (11,686) (7,313) (33,184) (23,540)
Other income (expense):        
Interest income 36 58 91 154
Other income (expense) 0 10 0 (2,165)
Change in fair value of warrant liabilities 6,358 10,689 17,210 3,800
Total other income, net 6,394 10,757 17,301 1,789
Net (loss) income $ (5,292) $ 3,444 $ (15,883) $ (21,751)
Basic net (loss) income per share $ (0.13) $ 0.12 $ (0.44) $ (1.03)
Shares used in computing basic net (loss) income per share 39,332,721 27,809,169 35,914,327 21,069,057
Diluted net loss per share $ (0.13) $ (0.19) $ (0.44) $ (1.03)
Shares used in computing diluted net (loss) income per share 39,332,721 29,079,107 35,914,327 21,069,057

Source

v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (15,883) $ (21,751)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 110 126
Stock-based compensation expense 2,383 1,937
Change in fair value of warrant liabilities (17,210) (3,800)
Issuance costs allocated to warrants   2,175
Net amortization of premium on marketable securities 503 161
Changes in operating assets and liabilities:    
(Increase) decrease in prepaid expenses and other current and non-current assets (6,260) 720
Increase (decrease) in accounts payable, accrued liabilities and other liabilities 3,800 (5,240)
Net cash used in operating activities (32,557) (25,672)
Cash flows from investing activities    
Purchases of marketable securities (47,644) (47,555)
Proceeds from sales and maturities of marketable securities 31,034 15,303
Net cash used in investing activities (16,610) (32,252)
Cash flows from financing activities    
Proceeds from issuance of securities 57,500 55,500
Payment of financing costs of securities sold (3,703) (3,637)
Proceeds from the exercise of warrants 110 29
Net cash provided by financing activities 53,907 51,892
Net increase (decrease) in cash and cash equivalents 4,740 (6,032)
Cash and cash equivalents at beginning of period 15,485 24,184
Cash and cash equivalents at end of period $ 20,225 18,152
Supplemental disclosures of cash flow information:    
Issuance of warrants to purchase common stock   $ 31,392

Source