Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net loss $ (14,238,000) $ (13,520,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 98,000 149,000
Right of use assets 247,000 163,000
Stock-based compensation 558,000 643,000
Operating lease liabilities (142,000) (172,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,281,000 401,000
Tax credit receivable 238,000 166,000
Accounts payable and accrued expenses (1,367,000) 830,000
Net cash used in operating activities (13,325,000) (11,340,000)
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 to related entities, net of transaction costs 4,000,000
Net cash provided by financing activities 3,993,000
Net decrease in cash and restricted cash (13,333,000) (7,406,000)
Cash and restricted cash at beginning of period 26,428,000 37,219,000
Cash and restricted cash at end of period 13,095,000 29,813,000
Non-cash investing and financing activities    
Initial recognition of right-of-use assets and lease liabilities $ 163,000