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, 2024
Jun. 30, 2023
Cash Flows from Operating Activities:    
Net loss $ (17,615) $ (26,995)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,880 1,536
Issuance of common shares - Founders Agreement 396 558
Gain on common stock warrant liabilities   (7,209)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (228) 263
Other receivables - related party (41) 42
Accounts payable and accrued expenses 2,530 4,651
Accounts payable and accrued expenses - related party 364 1,147
Net cash used in operating activities (12,714) (26,007)
Cash Flows from Financing Activities:    
Net cash provided by financing activities 12,737 21,360
Net increase (decrease) in cash and cash equivalents 23 (4,647)
Cash and cash equivalents at beginning of period 4,928 12,068
Cash and cash equivalents at end of period 4,951 7,421
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement 3,419 1,885
Issuance of common shares - Registered direct offering (offering costs incurred but not paid) 100 246
Registered direct offerings    
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares 14,000 23,621
Payment of offering costs for the issuance of common shares $ (1,263) $ (2,261)