Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (11,105,000) $ (4,127,000)
Reconciliation of net loss to net cash used in operating activities:    
Share based compensation 599,000 637,000
Change in fair value of warrant liability (1,544,000) (0)
Issuance of common stock for licenses acquired 1,230,000 0
Research and development - licenses acquired 3,000,000
Issuance of common stock to Fortress 72,000 0
Changes in operating assets and liabilities:    
Other receivables - related party (13,000) 90,000
Prepaid expenses and other current assets 119,000 87,000
Deferred financing costs (239,000) 0
Net cash used in operating activities (7,127,000) (3,427,000)
Cash flows from investing activities:    
Purchase of research and development licenses (3,000,000) 0
Net cash used in investing activities (3,000,000) 0
Cash flows from financing activities:    
Issuance of common stock, pre-funded warrants and warrants, net of offering costs - registered direct offering and private placement 3,101,000 0
Proceeds from Issuance of Private Placement 550,000 0
Deferred financing costs (71,000) (119,000)
Net cash provided by (used in) financing activities 3,580,000 (119,000)
Net change in cash and cash equivalents (6,547,000) (3,546,000)
Cash and cash equivalents, beginning of period 6,708,000 3,763,000
Cash and cash equivalents, end of period 161,000 217,000
Supplemental cash flow information:    
Unpaid financing costs 239,000 219,000
Related Party [Member]    
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses 511,000 (97,000)
Nonrelated Party [Member]    
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses $ 243,000 $ (17,000)