Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.23.3
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:    
Net loss $ (32,719) $ (41,602)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,225 2,285
Issuance of common shares - Founders Agreement 809 239
Gain on common stock warrant liabilities (9,179)  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 734 (118)
Other receivables - related party 42 (31)
Accounts payable and accrued expenses (4,243) (3,075)
Accounts payable and accrued expenses - related party 1,574 48
Net cash used in operating activities (40,757) (42,254)
Cash Flows from Financing Activities:    
Net settlement of shares withheld for payment of employee taxes   (1,698)
Net cash provided by financing activities 30,461 7,997
Net decrease in cash and cash equivalents (10,296) (34,257)
Cash and cash equivalents at beginning of period 12,068 54,735
Cash and cash equivalents at end of period 1,772 20,478
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement 1,885 6,598
Issuance of common shares - Registered direct offering (offering costs incurred but not paid) 336  
Registered direct offerings    
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares 33,621  
Payment of offering costs for the issuance of common shares $ (3,160)  
At-the-market offering    
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares   9,939
Payment of offering costs for the issuance of common shares   $ (244)