Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (3,603) $ (3,731)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share based compensation 649 442
Change in fair value of warrant liability (5,580) 0
Common shares issuable - Founders Agreement 526  
Issuance of subsidiaries' common shares for license expenses 4  
Changes in operating assets and liabilities:    
Other receivables - related party 90 (90)
Prepaid expenses and other current assets (30) 6
Accounts payable and accrued expenses 385 (406)
Accounts payable and accrued expenses - related party (37) 29
Net cash and cash equivalents used in operating activities (7,596) (3,750)
Cash flows from financing activities:    
Proceeds from the issuance of common shares   5,044
Proceeds from issuance of common stock and accompanying warrants and pre-funded warrants in private placement 12,005  
Repurchase of common stock held by InvaGen (1,104)  
Proceeds from exercise of warrants 148  
Payment of offering costs (508) (663)
Net cash provided by financing activities 10,541 4,381
Net change in cash and cash equivalents 2,945 631
Cash and cash equivalents, beginning of period 3,763 3,132
Cash and cash equivalents, end of period 6,708 $ 3,763
Supplement disclosure of non-cash information:    
Receipt of interest in Baergic from Parent 99  
Unpaid offering costs $ 14