Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (7,050) $ (11,618)
Reconciliation of net loss to net cash used in operating activities:    
Share based compensation 383 38
Loss on settlement of common stock warrant liabilities 759 (0)
Change in fair value of warrant liabilities (139) 1,028
Issuance of Stock for Licenses Acquired 0 1,230
Research and development-licenses acquired, expense 0 2,000
Issuance of common stock to Fortress 543 72
Common shares issuable - Founders Agreement (371) 0
Changes in operating assets and liabilities:    
Other receivables - related party 0 (26)
Prepaid expenses and other current assets (2) 68
Accrued licenses acquired 0 1,000
Net cash used in operating activities (5,373) (6,238)
Cash flows from investing activities:    
Purchase of research and development licenses 0 (2,000)
Net cash used in investing activities 0 (2,000)
Cash flows from financing activities:    
Issuance of common stock and pre-funded warrants, net of offering costs - registered direct offering and private placement 0 3,101
Proceeds from ATM sales of common stock, net of issuance costs 295 0
Exercise of warrants 9,421 0
Warrant transaction costs (1,207) 0
Net cash provided by financing activities 8,509 3,101
Net change in cash and cash equivalents 3,136 (5,137)
Cash and cash equivalents, beginning of period 1,783 6,708
Cash and cash equivalents, end of period 4,919 1,571
Supplemental cash flow information:    
Unpaid research and development licenses acquired 0 1,000
Issuance of common shares - Founders Agreement 543 0
Related Party [Member]    
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses 427 (63)
Nonrelated Party [Member]    
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses $ 77 $ 33