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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net (loss) $ (27,871) $ (36,260)
Adjustments to reconcile net (loss) to net cash from operating activities:    
Depreciation 9 7
Stock-based compensation 2,778 3,330
Bad debt 15 0
Deferred income taxes 0 16,032
Changes in assets and liabilities:    
Prepaid expenses and other current assets (3,369) 331
Accounts payable and accrued liabilities 67 35
Other liabilities 3,596 (54)
Accrued payroll and related expenses 5 41
Accrued licensing costs 0 (355)
Accounts receivables (3) 3
Prepaid income taxes 0 (3)
Net cash used in operating activities (24,773) (16,893)
Cash flows from investing activities:    
Purchase of property and equipment (65) 0
Purchase of investments at cost (2,500) 0
Purchase of investments (47,215) (67,070)
Proceeds from sale or maturity of investments 85,721 28,535
Net cash provided by (used in) investing activities 35,941 (38,535)
Cash flows from financing activities:    
Dividend (71,429) 0
Withholding taxes paid on cashless exercise of restricted stock and restricted stock units (11) (29)
Net cash used in financing activities (71,440) (29)
Net (decrease) in cash and cash equivalents (60,272) (55,457)
Cash and cash equivalents, beginning of period 86,561 142,018
Cash and cash equivalents, end of period 26,289 86,561
Cash paid for income taxes $ 0 $ 2