Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.23.3
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (5,191) $ (16,053)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,799 1,383
Depreciation 3 3
Unrealized loss from short-term investments 38 118
Financing cots 1,328 0
Fair value change in derivative liability (61) 0
Change in assets and liabilities:    
Accounts receivable (8,834) 0
Contract assets and unbilled receivables 2,341 0
Prepaid and other assets 969 709
Accounts payable 709 (125)
Accrued and other liabilities 239 (512)
Net cash used in operating activities (5,660) (14,477)
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 and purchase agreement 5,482 4,428
Issuance costs (106) (119)
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 5,376 3,798
Net decrease in cash and cash equivalents (284) (10,679)
Cash and cash equivalents at beginning of period 42,634 24,534
Cash and cash equivalents at end of period 42,350 13,855
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 318 0
Cash paid for interest 0 9
Supplemental non-cash financing transactions:    
Unpaid issuance costs 115 11
Non-cash issuance of common stock in connection with equity purchase agreement 1,022 0
Value of derivative established in connection with the equity purchase agreement $ 154 $ 0