Financials

v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash $ 32,419 $ 37,144
Restricted cash 75 75
Tax credit receivable 1,207 716
Prepaid expenses and other current assets 2,060 2,243
Total current assets 35,761 40,178
Property and equipment, net 305 342
Deposits 46 46
Operating lease right-of-use assets, net (including $72 and $99 respectively, to related party) 167 274
Total assets 36,279 40,840
Current liabilities:    
Accounts payable and accrued expenses 1,421 976
Current maturities of finance lease liabilities 7
Current maturities of operating lease liabilities (including $62 and $59 respectively, to related party) 166 233
Total current liabilities 1,587 1,216
Long-term liabilities:    
Operating lease liabilities (including $10 and $42 respectively, to related party) 10 57
Total liabilities 1,597 1,273
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 par value; 150,000 shares authorized as of June 30, 2023, and December 31, 2022; 10,174 and 8,143 shares issued and outstanding as of June 30, 2023 and December 31, 2022 10 8
Additional paid-in capital 341,957 337,489
Accumulated deficit (307,285) (297,930)
Total stockholders’ equity 34,682 39,567
Total liabilities and stockholders’ equity $ 36,279 $ 40,840

Source

PDF HTML
10-Q Filing
ZIP XLS HTML
XBRL
v3.23.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Operating expenses:        
Research and development $ 2,801 $ 2,361 $ 6,708 $ 5,233
General and administrative 1,538 1,375 2,742 2,708
Legal settlement 1,600 1,600
Impairments 19,092 19,092
Total operating expenses 4,339 24,428 9,450 28,633
Loss from operations (4,339) (24,428) (9,450) (28,633)
Other income (expense):        
Interest income (expense), net 140 140 (1)
Foreign exchange loss 33 (1) (45) (14)
Change in fair value of derivative liabilities 1 12
Total other expense, net 173 95 (3)
Net loss $ (4,166) $ (24,428) $ (9,355) $ (28,636)
Net loss per common share, basic $ (0.41) $ (3.00) $ (1.03) $ (3.48)
Net loss per common share, diluted $ (0.41) $ (3.00) $ (1.03) $ (3.48)
Weighted average number of common shares outstanding, basic 10,065 8,143 9,109 8,143
Weighted average number of common shares outstanding, diluted 10,065 8,143 9,109 8,143

Source

PDF HTML
10-Q Filing
ZIP XLS HTML
XBRL
v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net loss $ (9,355,000) $ (28,636,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 96,000 90,000
Amortization of right of use assets 108,000 100,000
Loss on impairment of goodwill 19,092,000
Stock-based compensation 470,000 480,000
Payments on operating lease liabilities (115,000) (102,000)
Change in fair value of derivative liabilities (12,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 183,000 80,000
Tax credit receivable (491,000)
Accounts payable and accrued expenses 445,000 (326,000)
Settlement payable 1,600,000
Net cash used in operating activities (8,659,000) (7,634,000)
Investing activities:    
Purchases of property and equipment (59,000)
Net cash used in investing activities (59,000)
Financing activities:    
Payments on finance lease liabilities (7,000) (13,000)
Proceeds from sale of common stock, net of transaction costs 4,000,000
Net cash provided by (used in) financing activities 3,993,000 (13,000)
Net decrease in cash and restricted cash (4,725,000) (7,647,000)
Cash and restricted cash at beginning of period 37,219,000 58,755,000
Cash and restricted cash at end of period $ 32,494,000 $ 51,108,000

Source

PDF HTML
10-Q Filing
ZIP XLS HTML
XBRL