Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (15,649) $ (7,926)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,540 1,370
Issuance of common shares - Founders Agreement 887 66
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 960 144
Other receivables - related party (135) (16)
Accounts payable and accrued expenses (2,032) 339
Net cash used in operating activities (10,365) (6,701)
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock - At-the-market offering 35,614 2,666
Offering costs for the issuance of common stock - At-the-market offering (897) (62)
Offering costs for the issuance of common stock - Public offering 0 (69)
Proceeds from the exercise of warrants 0 13
Net cash provided by financing activities 34,717 2,548
Net increase (decrease) in cash and cash equivalents 24,352 (4,153)
Cash and cash equivalents at beginning of period 40,772 26,077
Cash and cash equivalents at end of period 65,124 21,924
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement $ 4,617 $ 2,510