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
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities:    
Net loss $ (10,945) $ (10,474)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 709 969
Issuance of common shares - Founders Agreement 396 156
Gain on common stock warrant liabilities   (7,566)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (284) 134
Other receivables - related party   38
Accounts payable and accrued expenses 3,524 2,167
Accounts payable and accrued expenses - related party 126 545
Net cash used in operating activities (6,474) (14,031)
Cash Flows from Financing Activities:    
Net cash provided by financing activities 12,787 6,809
Net increase (decrease) in cash and cash equivalents 6,313 (7,222)
Cash and cash equivalents at beginning of period 4,928 12,068
Cash and cash equivalents at end of period 11,241 4,846
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement   1,885
Issuance of common shares - Registered direct offering (offering costs incurred but not paid) 150 156
Registered direct offerings    
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares 14,000 7,500
Payment of offering costs for the issuance of common shares $ (1,213) $ (691)