Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.21.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (6,505) $ (3,281)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 774 639
Issuance of common shares - Founders Agreement 634 0
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 475 110
Other receivables - related party (48) (946)
Accounts payable and accrued expenses (13) 1,062
Net cash used in operating activities (4,657) (4,540)
Cash Flows from Financing Activities:    
Issuance of common shares - At-the-market offering 24,569 0
Offering costs for the issuance of common shares - At-the-market offering (651) 0
Offering costs for the issuance of common shares - Public offering 0 (69)
Proceeds from the exercise of warrants 0 13
Net cash provided by (used in) financing activities 23,918 (56)
Net increase (decrease) in cash and cash equivalents 19,261 (4,596)
Cash and cash equivalents at beginning of period 40,772 26,077
Cash and cash equivalents at end of period 60,033 21,481
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement 4,617 0
Issuance of common shares - At-the-market offering (offering costs incurred but not paid) $ 25 $ 0