Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net loss $ (9,299,000) $ (9,355,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 68,000 96,000
Stock-based compensation 305,000 470,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,408,000 183,000
Deposits 17,000
Tax credit receivable (187,000) (491,000)
Decrease in right of use assets 178,000 108,000
Accounts payable and accrued expenses (619,000) 445,000
Operating lease liabilities (73,000) (115,000)
Net cash used in operating activities (8,202,000) (8,659,000)
Investing activities:    
Purchases of property and equipment (8,000) (59,000)
Net cash used in investing activities (8,000) (59,000)
Financing activities:    
Payments on finance lease liabilities (7,000)
Proceeds from sale of common stock, net of transaction costs 4,000,000
Net cash used in financing activities 3,993,000
Net decrease in cash and restricted cash (8,210,000) (4,725,000)
Cash and restricted cash at beginning of period 26,428,000 37,219,000
Cash and restricted cash at end of period $ 18,218,000 $ 32,494,000