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
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities:    
Net loss $ (13,390) $ (32,928)
Adjustments to reconcile net loss to net cash used in operating activities:    
Issuance of common shares - Equity fee on public offerings to Fortress Biotech 163 0
Stock-based compensation expenses (542) 280
Depreciation expense 569 1,291
Amortization of debt discount 0 118
Amortization of operating lease right-of-use assets 128 204
Loss on disposal of property and equipment 29 0
Asset impairment 2,649 0
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 672 325
Accounts payable and accrued expenses 981 (2,022)
Payable and accrued expenses - related party 1,470 5
Lease liabilities (238) (85)
Net cash used in operating activities (7,656) (30,200)
Cash Flows from Investing Activities:    
Purchase of fixed assets 0 (34)
Net cash from investing activities 0 (34)
Cash Flows from Financing Activities:    
Payment of debt 0 (30,375)
Proceeds from issuance of common shares - public offerings 5,944 0
Offering costs for the issuance of common shares - public offerings (680) 0
Proceeds from exercise of warrants 3 0
Proceeds from issuance of common shares under ESPP 48 88
Net cash provided by financing activities 5,315 (30,287)
Net change in cash, cash equivalents and restricted cash (2,341) (60,521)
Cash, cash equivalents and restricted cash, beginning of the period 6,984 76,656
Cash, cash equivalents and restricted cash, end of the period 4,643 16,135
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
Transfer of assets classified as held for sale 0 4,348
Related Party    
Changes in operating assets and liabilities:    
Other receivables 0 36
Non related party    
Changes in operating assets and liabilities:    
Other receivables $ 167 $ 0