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
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:    
Net loss $ (42,986) $ (57,891)
Issuance of common shares - Equity fee on at-the-market offering to Fortress Biotech 0 165
Common shares issuable - Equity fee on at-the-market offering to Fortress Biotech 4 0
Issuance of common shares - Equity fee on note payable to Fortress Biotech 0 750
Research and development - licenses acquired 50 40
Stock-based compensation expenses 380 1,810
Depreciation expense 1,576 1,995
Amortization of debt discount 118 328
Amortization of operating lease right-of-use assets 286 202
Gain on sale of property and equipment (1,351) 0
Loss on extinguishment of debt 2,796 0
Gain on lease modification (220) 0
Prepaid expenses and other assets (1,688) (970)
Other receivables - related party 36 17
Accounts payable and accrued expenses (1,299) 4,316
Payable and accrued expenses - related party 239 (571)
Lease liabilities (163) (223)
Net cash used in operating activities (42,223) (49,777)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (50) (40)
Proceeds from the sale of property and equipment 6,000 127
Purchase of fixed assets (34) (2,619)
Net cash used in investing activities 5,916 (2,532)
Cash Flows from Financing Activities:    
Payment of debt (30,375) 0
Proceeds from issuance of common shares - at-the-market offering 163 6,622
Offering costs for the issuance of common shares - at-the-market offering (3) (123)
Proceeds from debt issuance 0 30,000
Fees paid on the issuance of debt 0 (2,650)
Proceeds from issuance of common shares under ESPP 178 206
Net cash provided by financing activities (30,037) 34,055
Net change in cash, cash equivalents and restricted cash (66,344) (18,254)
Cash, cash equivalents and restricted cash, beginning of the period 76,656 110,618
Cash, cash equivalents and restricted cash, end of the period 10,312 92,364
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,340 1,803
Supplemental disclosure of noncash activities:    
Fixed assets (acquired but not paid) 0 21
Issuance of common shares - Founders Agreement 1,109 4,212
Note payable final payment fee (incurred but not paid) 0 1,050
Issuance of warrants - note payable 0 384
Lease liabilities arising from obtaining right-of-use assets $ 0 $ 2,176