v3.22.2.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 9,549 $ 16,654
Marketable securities 17,753 37,631
Prepaid expenses 8,313 4,439
Other current assets 2,097 4,140
Total current assets 37,712 62,864
Property and equipment, net 653 741
Operating lease right-of-use assets 2,326 2,544
Other assets 107 613
Total assets 40,798 66,762
Current liabilities:    
Accounts payable 11,269 2,389
Accrued and other current liabilities 8,667 9,128
Current portion of lease liabilities 664 657
Total current liabilities 20,600 12,174
Warrant liabilities 4,826 2,530
Long-term portion of lease liabilities 2,414 2,609
Other liabilities 73 73
Total liabilities 27,913 17,386
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at June 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 June 30, 2022 and December 31, 2021 4 4
Additional paid-in capital 311,892 310,008
Accumulated other comprehensive loss (213) (84)
Accumulated deficit (298,798) (260,552)
Total stockholders' equity 12,885 49,376
Total liabilities and stockholders' equity $ 40,798 $ 66,762

Source

v3.22.2.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating expenses:        
Research and development $ 16,760 $ 7,777 $ 29,485 $ 15,798
General and administrative 3,266 2,935 6,520 5,700
Total operating expenses 20,026 10,712 36,005 21,498
Loss from operations (20,026) (10,712) (36,005) (21,498)
Other income (expense):        
Interest income 21 30 55 55
Change in fair value of warrant liabilities 1,916 5,286 (2,296) 10,852
Total other income (expense), net 1,937 5,316 (2,241) 10,907
Net loss $ (18,089) $ (5,396) $ (38,246) $ (10,591)
Per share information:        
Basic net income (loss) per share $ (0.46) $ (0.14) $ (0.97) $ (0.31)
Shares used in computing net loss per share 39,332,721 39,332,721 39,332,721 34,176,801
Diluted net income (loss) per share $ (0.46) $ (0.14) $ (0.97) $ (0.31)
Shares used in computing diluted net income (loss) per share 39,332,721 39,332,721 39,332,721 34,176,801

Source

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (38,246) $ (10,591)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 76 73
Stock-based compensation expense 1,884 1,519
Change in fair value of warrant liabilities 2,296 (10,852)
Net amortization of premium on marketable securities 502 212
Changes in operating assets and liabilities:    
Increase in prepaid expenses and other current and non-current assets (1,283) (3,759)
Increase in accounts payable, accrued and other current liabilities 8,419 1,894
Net cash used in operating activities (26,352) (21,504)
Cash flows from investing activities    
Purchases of marketable securities 0 (44,822)
Proceeds from maturities of marketable securities 19,247 18,340
Net cash provided by (used in) investing activities 19,247 (26,482)
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 (7,105) 5,921
Cash and cash equivalents at beginning of period 16,654 15,485
Cash and cash equivalents at end of period $ 9,549 $ 21,406

Source