Quarterly report [Sections 13 or 15(d)]

Statements of Cash Flows (Unaudited)

v3.25.1
Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities:    
Net loss $ (153) $ (5,191)
Adjustments to reconcile net loss to net cash used in operating activities:    
Issuance of common shares - Equity fee on Equity Offerings to Fortress Biotech 216 0
Stock-based compensation expenses 38 76
Depreciation expense 34 285
Amortization of operating lease right-of-use assets 7 411
Gain on lease termination (394) 0
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (11) 371
Other receivables 185 (2,859)
Accounts payable and accrued expenses (1,384) 997
Payable and accrued expenses - related party 146 1,020
Lease liabilities (73) (431)
Net cash used in operating activities (1,389) (5,321)
Cash Flows from Investing Activities:    
Proceeds from the sale of property and equipment 1,165 0
Net cash from investing activities 1,165 0
Cash Flows from Financing Activities:    
Proceeds from issuance of common shares, net of offering costs - equity offering 7,017 0
Proceeds from issuance of common shares, net of offering costs - At-the-Market offering 599 0
Proceeds from warrant exercises 0 1
Proceeds from issuance of common shares under ESPP 0 48
Net cash provided by financing activities 7,616 49
Net change in cash, cash equivalents and restricted cash 7,392 (5,272)
Cash, cash equivalents and restricted cash, beginning of the period 6,839 6,984
Cash, cash equivalents and restricted cash, end of the period 14,231 1,712
Supplemental disclosure of noncash activities:    
Issuance of common shares - Founders Agreement and equity fee to Fortress 611 591
Unpaid offering costs - equity offering $ 235 $ 0