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
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net loss $ (27,340) $ (32,719)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 3,491 2,225
Issuance of common shares - Founders Agreement 714 809
Gain on common stock warrant liabilities   (9,179)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (26) 734
Other receivables - related party   42
Accounts payable and accrued expenses 43 (4,243)
Accounts payable and accrued expenses - related party (806) 1,574
Net cash used in operating activities (23,924) (40,757)
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares - Registered direct offerings 26,000 33,621
Payment of offering costs for the issuance of common shares - Registered direct offerings (2,301) (3,160)
Net cash provided by financing activities 23,699 30,461
Net decrease in cash and cash equivalents (225) (10,296)
Cash and cash equivalents at beginning of period 4,928 12,068
Cash and cash equivalents at end of period 4,703 1,772
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement 3,419 1,885
Unpaid offering costs for the issuance of common shares - Registered direct offerings $ 107 $ 336