v3.22.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 9,637 $ 16,654
Marketable securities 32,644 37,631
Prepaid expenses 6,541 4,439
Other current assets 3,450 4,140
Total current assets 52,272 62,864
Property and equipment, net 696 741
Operating lease right-of-use assets 2,471 2,544
Other assets 601 613
Total assets 56,040 66,762
Current liabilities:    
Accounts payable 8,267 2,389
Accrued and other current liabilities 7,786 9,128
Current portion of lease liabilities 661 657
Total current liabilities 16,714 12,174
Warrant liabilities 6,742 2,530
Long-term portion of lease liabilities 2,513 2,609
Other liabilities 73 73
Total liabilities 26,042 17,386
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at March 31, 2022 and December 31, 2021  
Common stock, $0.0001 par value, 125,000,000 shares authorized, 39,332,721 shares issued and outstanding at March 31, 2022 and December 31, 2021 4 4
Additional paid-in capital 310,927 310,008
Accumulated other comprehensive loss (224) (84)
Accumulated deficit (280,709) (260,552)
Total stockholders' equity 29,998 49,376
Total liabilities and stockholders' equity $ 56,040 $ 66,762

Source

v3.22.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating expenses:    
Research and development $ 12,725 $ 8,021
General and administrative 3,254 2,765
Total operating expenses 15,979 10,786
Loss from operations (15,979) (10,786)
Other (expense) income:    
Interest income 34 24
Change in fair value of warrant liabilities (4,212) 5,567
Total other (expense) income (4,178) 5,591
Net loss $ (20,157) $ (5,195)
Per share information:    
Net loss per share of common stock, basic and diluted $ (0.51) $ (0.18)
Basic and diluted weighted average shares outstanding 39,332,721 28,963,594

Source

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (20,157) $ (5,195)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 38 31
Stock-based compensation expense 919 581
Change in fair value of warrant liabilities 4,212 (5,567)
Net amortization of premium on marketable securities 97 150
Changes in operating assets and liabilities:    
Increase in prepaid expenses and other current and non-current assets (1,412) (936)
Increase in accounts payable, accrued and other current liabilities 4,536 1,877
Net cash used in operating activities (11,767) (9,059)
Cash flows from investing activities    
Proceeds from maturities of marketable securities 4,750 4,913
Net cash provided by investing activities 4,750 4,913
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 (7,017) 49,761
Cash and cash equivalents at beginning of period 16,654 15,485
Cash and cash equivalents at end of period $ 9,637 $ 65,246

Source