Financials

v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 54,789 $ 58,705
Restricted cash 50 50
Prepaid expenses and other current assets 560 568
Total current assets 55,399 59,323
Property and equipment, net 407 453
Deposits 46 46
Operating lease right-of-use assets, net (including $140 to related party) 428 478
Goodwill 19,092 19,092
Total assets 75,372 79,392
Current liabilities:    
Accounts payable and accrued expenses 1,314 1,297
Current maturities of finance lease liabilities 28 27
Current maturities of operating lease liabilities (including $55 to related party) 215 209
Derivative liabilities 1 12
Total current liabilities 1,558 1,545
Long-term liabilities:    
Finance lease liabilities 7
Operating lease liabilities (including $87 to related party) 234 291
Total long-term liabilities 234 298
Total liabilities 1,792 1,843
Stockholders’ equity:    
Common stock, $0.001 par value; 150,000 shares authorized as of March 31, 2022 and December 31, 2021; 97,469 shares issued and outstanding as of March 31, 20222 and December 31, 2021. 98 98
Additional paid-in capital 336,783 336,544
Accumulated deficit (263,301) (259,093)
Total stockholders’ equity 73,580 77,549
Total liabilities and stockholders’ equity $ 75,372 $ 79,392

Source

v3.22.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating expenses:    
Research and development $ 2,872 $ 1,577
General and administrative 1,333 1,161
Total operating expenses 4,205 2,738
Loss from operations (4,205) (2,738)
Other (expense) income:    
Interest expense, net (1) (1)
Foreign exchange loss (13)
Change in fair value of derivative liabilities 11 1
Total other expense, net (3)
Net loss $ (4,208) $ (2,738)
Net loss per common share, basic and diluted $ (0.04) $ (0.04)
Weighted average number of common shares outstanding, basic and diluted 97,469 71,248

Source

v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net loss $ (4,208) $ (2,738)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 46 45
Stock-based compensation 239 219
Payments on operating lease liabilities (50) (48)
Change in fair value of derivative liabilities (11) (1)
Changes in operating assets and liabilities:    
Accounts receivable 556
Prepaid expenses and other current assets 8 36
Amortization of right of use assets 49 47
Accounts payable and accrued expenses 17 114
Net cash used in operating activities (3,910) (1,770)
Investing activities:    
Purchases of property and equipment (25)
Net cash used in investing activities (25)
Financing activities:    
Payments on finance lease liabilities (6) (9)
Proceeds from sale of common stock, net of transaction costs 2,072
Net cash provided by financing activities (6) 2,063
Net increase in cash and restricted cash (3,916) 268
Cash and restricted cash at beginning of period 58,755 33,060
Cash and restricted cash at end of period 54,839 33,328
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Recognition of finance lease right-of-use asset and liability
Recognition of operating lease right-of-use asset and liability

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