Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net loss $ (16,693) $ (19,795)
Issuance of common shares - Equity fee on at-the-market offering to Fortress Biotech 0 73
Issuance of common shares - Equity fee on note payable to Fortress Biotech 0 750
Stock-based compensation expenses 235 664
Depreciation expense 752 640
Amortization of debt discount 143 19
Amortization of operating lease right-of-use assets 106 39
Prepaid expenses and other assets 131 209
Other receivables - related party 36 18
Accounts payable and accrued expenses (2,311) 1,091
Payable and accrued expenses - related party (165) 88
Lease liabilities (42) (85)
Net cash used in operating activities (17,808) (16,289)
Cash Flows from Investing Activities:    
Purchase of fixed assets 0 (1,334)
Net cash used in investing activities 0 (1,334)
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares - at-the-market offering 0 2,788
Offering costs for the issuance of common shares - at-the-market offering 0 (49)
Proceeds from debt issuance 0 30,000
Fees paid on the issuance of debt 0 (2,634)
Proceeds from issuance of common shares under ESPP 0 116
Net cash provided by financing activities 0 30,221
Net change in cash, cash equivalents and restricted cash (17,808) 12,598
Cash, cash equivalents and restricted cash, beginning of the period 76,656 110,618
Cash, cash equivalents and restricted cash, end of the period 58,848 123,216
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,024 0
Supplemental disclosure of noncash activities:    
Fixed assets (acquired but not paid) 18 35
Issuance of common shares - Founders Agreement 1,109 4,212
Debt issuance fees (incurred but not paid) 0 1,065
Issuance of warrants - note payable $ 0 $ 384