Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.23.2
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (10,752) $ (11,522)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,226 890
Depreciation 2 2
Unrealized loss from short-term investments 27 93
Change in assets and liabilities:    
Accounts receivable 1,163 0
Contract assets and unbilled receivables 957 0
Prepaid and other assets 721 574
Accounts payable 1,254 302
Accrued and other liabilities 1,745 (318)
Net cash used in operating activities (2,657) (9,979)
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 3,066
Issuance costs 0 (85)
Payments made in connection with short-term loan 0 (538)
Exercise of Series B warrants 0 0
Exercise of stock options 0 27
Net cash provided by financing activities 0 2,470
Net decrease in cash and cash equivalents (2,657) (7,509)
Cash and cash equivalents at beginning of period 42,634 24,534
Cash and cash equivalents at end of period 39,977 17,025
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest 0 9
Supplemental non-cash financing transactions:    
Unpaid issuance and deferred offering costs $ 9 $ 3