Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:    
Net loss $ (23,081) $ (24,714)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,780 3,121
Issuance of common shares - Founders Agreement 901 738
Common shares issuable - Founders Agreement 4,617 2,510
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (941) 509
Other receivables - related party 6 1,506
Accounts payable and accrued expenses 833 5,043
Net cash used in operating activities (16,551) (21,373)
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock - Public offering 20,500 19,560
Offering costs for the issuance of common stock - Public offering (1,660) (1,918)
Proceeds from issuance of common stock - At-the-market offering 12,767 8,011
Offering costs for the issuance of common stock - At-the-market offering (374) (198)
Proceeds from the exercise of warrants 13 0
Net cash provided by financing activities 31,246 25,455
Net increase in cash and cash equivalents 14,695 4,082
Cash and cash equivalents at beginning of period 26,077 21,995
Cash and cash equivalents at end of period 40,772 26,077
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement 2,510 1,748
Issuance of common shares - Public offering (offering costs incurred but not paid) $ 0 $ 69