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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Consolidated net loss $ (14,881) $ (15,487)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 167 178
Stock-based compensation 1,178 740
Accretion of discount of available-for-sale investment securities (523) (811)
Amortization of right-of-use assets 216 592
Changes in operating assets and liabilities:    
Other receivables 748 454
Prepaid expenses and other assets 2,159 (7,553)
Accounts payable and accrued expenses (4,322) (228)
Operating lease liability (162) (265)
Net cash used in operating activities (15,420) (22,380)
Cash flows from investing activities:    
Purchases of property and equipment 0 (17)
Purchases of available-for-sale investment securities (23,105) (21,339)
Maturities of available-for-sale investment securities 18,685 20,000
Net cash used in investing activities (4,420) (1,356)
Cash flows from financing activities:    
Proceeds from issuance of common stock through option exercises 2 0
Proceeds from issuance of common stock from at-the-market offerings, net of offering costs 18,757 7,851
Principal paid on finance lease liabilities (131) (121)
Net cash provided by financing activities 18,628 7,730
Net change in cash, cash equivalents and restricted cash (1,212) (16,006)
Cash, cash equivalents and restricted cash at beginning of period 14,006 26,028
Cash, cash equivalents and restricted cash at the end of period 12,794 10,022
Cash and cash equivalents at the end of period 10,362 6,808
Restricted cash at the end of period 2,432 3,214
Cash, cash equivalents and restricted cash at the end of period 12,794 10,022
Supplemental disclosure of cash flow information:    
Interest paid 28 38
Purchases of property and equipment in accounts payable $ 17 $ 34