Quarterly report [Sections 13 or 15(d)]

Statements of Cash Flows (Unaudited)

v3.25.3
Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities:    
Net loss $ (1,383) $ (14,800)
Adjustments to reconcile net loss to net cash used in operating activities:    
Issuance of common shares - equity fee on equity offerings to Fortress Biotech 395 192
Stock-based compensation expenses 106 (500)
Depreciation expense 34 620
Amortization of operating lease right-of-use assets 7 128
Settlement of payables (1,373) (1,341)
Loss on disposal of property and equipment 0 29
Asset impairment 0 2,649
Gain on lease termination (394) (314)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 40 702
Other receivables 435 659
Accounts payable and accrued expenses (1,202) 1,191
Payable and accrued expenses - related party (138) 1,701
Lease liabilities (73) (329)
Net cash used in operating activities (3,546) (9,413)
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 6,782 5,160
Proceeds from issuance of common shares, net of offering costs - At-the-Market offering 599 1,118
Proceeds from warrant exercises 7,145 3
Proceeds from issuance of common shares under ESPP 0 48
Net cash provided by financing activities 14,526 6,329
Net change in cash, cash equivalents and restricted cash 12,145 (3,084)
Cash, cash equivalents and restricted cash, beginning of the period 6,839 6,984
Cash, cash equivalents and restricted cash, end of the period 18,984 3,900
Supplemental disclosure of noncash activities:    
Issuance of common shares - Founders Agreement and equity fee to Fortress $ 611 $ 591