Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.23.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net loss $ (7,602) $ (2,861)
Reconciliation of net loss to net cash used in operating activities:    
Share based compensation 11 569
Change in fair value of warrant liability 878 (0)
Issuance of common stock for licenses acquired 1,230 0
Issuance of common stock to Fortress 72 0
Changes in operating assets and liabilities:    
Other receivables - related party (13) 90
Prepaid expenses and other current assets (61) (16)
Accrued licenses acquired 3,000 0
Net cash used in operating activities (1,573) (1,930)
Cash flows from Financing Activities:    
Issuance of common stock and pre-funded warrants, net of offering costs - registered direct offering and private placement 3,101 0
Net cash provided by financing activities 3,101 0
Net change in cash and cash equivalents 1,528 (1,930)
Cash and cash equivalents, beginning of period 6,708 3,763
Cash and cash equivalents, end of period 8,236 1,833
Supplemental cash flow information:    
Unpaid research and development licenses acquired 3,000 0
Nonrelated Party [Member]    
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses 889 295
Related Party [Member]    
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses $ 23 $ (7)