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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net loss $ (7,171) $ (12,337)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of investment (3,626) 6,811
Research and development-acquired license, expensed 1,148 1,469
Stock-based compensation 314 84
Realized loss (gain) on marketable securities 67 (509)
Unrealized loss on marketable securities 3,115 218
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (227) (34)
Accounts payable and accrued expenses (186) 499
Accrued salaries and benefits 370 (372)
Interest receivable on convertible note (252)
Security deposit (155)
Payable to DatChat 150
Net cash used in operating activities (6,603) (4,021)
Cash flows from investing activities    
Purchase of marketable securities (93,432) (98,827)
Sale of marketable securities 103,043 74,873
Proceeds from sale of Hoth common shares 460
Proceeds from sale of DatChat common shares 900
Funds to deposit accounts, net (4,201)
Purchase of short-term investments (5,666)
Purchase of research and development licenses (617) (1,469)
Purchase of convertible note (2,000)
Purchase of short-term notes (6,880)
Net cash used in investing activities (8,853) (24,963)
Cash flows from financing activities    
Proceeds from issuance of common stock and warrants, net of offering cost 78,219 6,559
Proceeds from issuance of common stock, net of offering cost 17,845
Proceeds from exercise of warrants 84 7,204
Net cash provided by financing activities 78,303 31,608
Net increase in cash and cash equivalents 62,847 2,624
Cash and cash equivalents, beginning of period 2,715 91
Cash and cash equivalents, end of period 65,562 2,715
Non-cash investing and financing activities    
Distribution of Hoth common stock $ 269