Annual report pursuant to Section 13 and 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (3,731) $ (5,151)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share based compensation 442 710
Changes in operating assets and liabilities:    
Other receivables - related party (90)  
Prepaid expenses and other current assets 6 57
Accounts payable and accrued expenses (406) (244)
Accounts payable and accrued expenses - related party 29 15
Net cash and cash equivalents used in operating activities (3,750) (4,613)
Cash flows from investing activities:    
Milestone payment for research and development licenses   (1,000)
Net cash and cash equivalents used in investing activities   (1,000)
Cash flows from financing activities:    
Proceeds from the issuance of common shares 5,044  
Payment of offering costs (663)  
Net cash provided by financing activities 4,381  
Net change in cash and cash equivalents 631 (5,613)
Cash and cash equivalents, beginning of period 3,132 8,745
Cash and cash equivalents, end of period $ 3,763 $ 3,132