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, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (26,914) $ (12,856)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,319 2,095
Issuance of common shares - Founders Agreement 926 797
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 1,067 275
Other receivables - related party (9) (2)
Accounts payable and accrued expenses 5,783 (1,926)
Net cash used in operating activities (16,828) (11,617)
Cash Flows from Financing Activities:    
Issuance of common shares - Public offering 0 20,500
Offering costs for the issuance of common stock - Public offering 0 (1,361)
Proceeds from issuance of common stock - At-the-market offering 37,187 8,684
Offering costs for the issuance of common stock - At-the-market offering (928) (267)
Proceeds from the exercise of warrants 0 13
Net cash provided by financing activities 36,259 27,569
Net increase in cash and cash equivalents 19,431 15,952
Cash and cash equivalents at beginning of period 40,772 26,077
Cash and cash equivalents at end of period 60,203 42,029
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement 4,617 2,510
Issuance of common shares - Public offering (offering costs incurred but not paid) $ 0 $ 296