v3.25.1
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:    
Net loss $ (15,752) $ (51,602)
Adjustments to reconcile net loss to net cash used in operating activities:    
Issuance of common shares - Equity fee on Equity Offerings to Fortress Biotech 329 0
Common shares issuable - Equity fee on at-the-market offering to Fortress Biotech 0 4
Common shares issuable - Equity fee on Registered Direct Offering to Fortress Biotech 0 110
Common shares issuable - Annual Stock Dividend to Fortress Biotech 611 477
Research and development - licenses acquired 250 50
Stock-based compensation expenses (450) 568
Depreciation expense 671 1,860
Amortization of debt discount 0 118
Amortization of operating lease right-of-use assets 152 365
Loss on disposal of property and equipment 29 0
Asset impairment 3,692 0
Gain on sale of property and equipment 0 (1,466)
Loss on extinguishment of debt 0 2,796
Gain on lease modification (314) 220
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 586 1,092
Accounts payable and accrued expenses (2,974) 125
Payable and accrued expenses - related party 1,833 67
Deferred income (120) 0
Lease liabilities (447) (680)
Net cash used in operating activities (11,410) (49,477)
Cash Flows from Investing Activities:    
Purchase of research and development licenses 0 (50)
Proceeds from the sale of property and equipment 0 6,000
Purchase of fixed assets 0 (64)
Net cash from investing activities 0 5,886
Cash Flows from Financing Activities:    
Payment of debt 0 (30,375)
Proceeds from issuance of common shares - Equity Offerings 6,512 4,398
Offering costs for the issuance of common shares - Equity Offerings (1,353) (443)
Proceeds from issuance of common shares - At-the-Market Offering 2,637 163
Offering costs for the issuance of common shares - At-the-Market Offering (102) (3)
Net proceeds from induced warrant exercise 3,523 0
Proceeds from issuance of common shares under ESPP 48 178
Net cash provided by (used in) financing activities 11,265 (26,081)
Net change in cash, cash equivalents and restricted cash (145) (69,672)
Cash, cash equivalents and restricted cash, beginning of the period 6,984 76,656
Cash, cash equivalents and restricted cash, end of the period 6,839 6,984
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 1,340
Supplemental disclosure of noncash activities:    
Issuance of common shares - Founders Agreement and Equity fee to Fortress 591 1,109
Related Party    
Changes in operating assets and liabilities:    
Other receivables 0 36
Non related party    
Changes in operating assets and liabilities:    
Other receivables $ 494 $ (3,616)

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