Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.23.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (5,791) $ (6,595)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 804 445
Depreciation 1 1
Fair value change in warrant liabilities 0 0
Unrealized loss from short-term investments 27 84
Change in assets and liabilities:    
Accounts receivable (1,536) 0
Contract asset 1,085 0
Prepaid expenses and other assets 365 219
Accounts payable 1,152 (5)
Accrued and other liabilities 247 (319)
Net cash used in operating activities (3,646) (6,170)
Investing activities    
Net cash used in investing activities 0 0
Financing activities    
Proceeds from issuance of common stock in connection with the at-the-market program 0 1,208
Issuance costs 0 (30)
Payments made in connection with short-term loan 0 (323)
Exercise of Series B warrants 0 0
Exercise of stock options 0 27
Net cash provided by financing activities 0 882
Net decrease in cash and cash equivalents (3,646) (5,288)
Cash and cash equivalents at beginning of period 42,634 24,534
Cash and cash equivalents at end of period 38,988 19,246
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest 0 5
Supplemental non-cash financing transactions:    
Unpaid issuance and deferred offering costs $ 2 $ 5