Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash $ 29,738,000 $ 37,144,000
Restricted cash 75,000 75,000
Tax credit receivable 550,000 716,000
Prepaid expenses and other current assets 1,842,000 2,243,000
Total current assets 32,205,000 40,178,000
Property and equipment, net 252,000 342,000
Deposits 46,000 46,000
Operating lease right-of-use assets, net (including $57 and $99 respectively, to related party) 111,000 274,000
Total assets 32,614,000 40,840,000
Current liabilities:    
Accounts payable and accrued expenses 1,806,000 976,000
Current maturities of finance lease liabilities 7,000
Current maturities of operating lease liabilities (including $57 and $59 respectively, to related party) 118,000 233,000
Total current liabilities 1,924,000 1,216,000
Long-term liabilities:    
Operating lease liabilities (including $0 and $42 respectively, to related party) 57,000
Total liabilities 1,924,000 1,273,000
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Common stock, $0.001 par value 150,000 shares authorized as of September 30, 2023, and December 31, 2022; 10,174 and 8,143 shares issued and outstanding as of September 30, 2023 and December 31, 2022 10,000 8,000
Additional paid-in capital 342,130,000 337,489,000
Accumulated deficit (311,450,000) (297,930,000)
Total stockholders’ equity 30,690,000 39,567,000
Total liabilities and stockholders’ equity $ 32,614,000 $ 40,840,000