Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows from operating activities          
Net loss     $ (14,298) $ (55,313)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation     120 115  
Stock-based compensation expense     2,436 2,890  
Issuance costs allocated to warrants     96    
Change in fair value of warrant liabilities $ (1,209) $ (4,823) (8,998) (2,527)  
Net amortization of premium on marketable securities     57 556  
Changes in operating assets and liabilities:          
Decrease (increase) in prepaid expenses and other current and non-current assets     2,857 6,709  
(Decrease) increase in accounts payable, accrued and other liabilities     (7,888) 11,564  
Net cash used in operating activities     (25,618) (36,006)  
Cash flows from investing activities          
Proceeds from maturities of marketable securities     4,750 21,531  
Sales of marketable securities       2,504  
Purchases of property and equipment     (20) (19)  
Net cash provided by investing activities     4,730 24,016  
Cash flows from financing activities          
Proceeds from Issuance of Common Stock     19,567    
Payment of financing costs of securities sold     (1,393)    
Repayments of insurance premium financing     (785)    
Proceeds from the exercise of pre-funded warrants     5    
Net cash provided by financing activities     17,394    
Net increase (decrease) in cash and cash equivalents     (3,494) (11,990)  
Cash and cash equivalents at beginning of period     8,907 16,654 $ 16,654
Cash and cash equivalents at end of period $ 5,413 $ 4,664 5,413 $ 4,664 $ 8,907
Supplemental schedule of cash flow information          
Issuance of warrants to purchase common stock     1,793    
Cash paid for interest     21    
Supplemental schedule of non-cash financing activities          
Insurance premium financing     $ 900