v3.22.2.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 4,664 $ 16,654
Marketable securities 12,984 37,631
Prepaid expenses 1,815 4,439
Other current assets 586 4,140
Total current assets 20,049 62,864
Property and equipment, net 628 741
Operating lease right-of-use assets 2,249 2,544
Other assets 108 613
Total assets 23,034 66,762
Current liabilities:    
Accounts payable 15,348 2,389
Accrued and other current liabilities 7,768 9,128
Current portion of lease liabilities 667 657
Total current liabilities 23,783 12,174
Warrant liabilities 3 2,530
Long-term portion of lease liabilities 2,313 2,609
Other liabilities 38 73
Total liabilities 26,137 17,386
Commitments and contingencies
Stockholders' (deficit) equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at September 30, 2022 and December 31, 2021
Common stock, $0.0001 par value, 125,000,000 shares authorized, 39,332,721 shares issued and outstanding at September 30, 2022 and December 31, 2021 4 4
Additional paid-in capital 312,898 310,008
Accumulated other comprehensive loss (140) (84)
Accumulated deficit (315,865) (260,552)
Total stockholders' (deficit) equity (3,103) 49,376
Total liabilities and stockholders' (deficit) equity $ 23,034 $ 66,762

Source

v3.22.2.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating expenses        
Research and development $ 10,814 $ 8,664 $ 40,299 $ 24,462
General and administrative 3,366 3,022 9,886 8,722
Restructuring 7,719   7,719  
Total operating expenses 21,899 11,686 57,904 33,184
Loss from operations (21,899) (11,686) (57,904) (33,184)
Other income:        
Interest income, net 9 36 64 91
Change in fair value of warrant liabilities 4,823 6,358 2,527 17,210
Total other income, net 4,832 6,394 2,591 17,301
Net loss $ (17,067) $ (5,292) $ (55,313) $ (15,883)
Per share information:        
Basic net loss per share $ (0.43) $ (0.13) $ (1.41) $ (0.44)
Shares used in computing net loss per share 39,332,721 39,332,721 39,332,721 35,914,327
Diluted net loss per share $ (0.43) $ (0.13) $ (1.41) $ (0.44)
Shares used in computing diluted net loss per share 39,332,721 39,332,721 39,332,721 35,914,327

Source

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (55,313) $ (15,883)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 115 110
Stock-based compensation expense 2,890 2,383
Change in fair value of warrant liabilities (2,527) (17,210)
Net amortization of premium on marketable securities 556 503
Changes in operating assets and liabilities:    
Decrease (increase) in prepaid expenses and other current and non-current assets 6,709 (6,260)
Increase in accounts payable, accrued and other current liabilities 11,564 3,800
Net cash used in operating activities (36,006) (32,557)
Cash flows from investing activities    
Purchases of marketable securities 0 (47,644)
Sales of marketable securities 2,504  
Proceeds from maturities of marketable securities 21,531 31,034
Purchases of property and equipment (19)  
Net cash provided by (used in) investing activities 24,016 (16,610)
Cash flows from financing activities    
Proceeds from issuance of securities   57,500
Payment of financing costs of securities sold   (3,703)
Proceeds from the exercise of warrants   110
Net cash provided by financing activities   53,907
Net (decrease) increase in cash and cash equivalents (11,990) 4,740
Cash and cash equivalents at beginning of period 16,654 15,485
Cash and cash equivalents at end of period $ 4,664 $ 20,225

Source