Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (14,871) $ (10,752)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,791 2,226
Depreciation 0 2
Unrealized loss from short-term investments 10 27
Change in assets and liabilities:    
Accounts receivable (432) 1,163
Contract assets and unbilled receivables 459 957
Prepaid and other assets (15) 721
Accounts payable (1,519) 1,254
Accrued and other liabilities 1,569 1,745
Net cash used in operating activities (13,008) (2,657)
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 4,041 0
Issuance costs (83) 0
Share repurchases for the payment of employee taxes (42) 0
Net cash provided by financing activities 3,916 0
Net decrease in cash and cash equivalents (9,092) (2,657)
Cash and cash equivalents at beginning of period 50,501 42,634
Cash and cash equivalents at end of period 41,409 39,977
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest 0 0
Supplemental non-cash financing transactions:    
Unpaid issuance costs $ 107 $ 9