ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets that sum to the total of the same such amounts shown in the statements of cash flows.

(in thousands)	September 30, 2022		December 31, 2021
Cash and cash equivalents	$	28,756	$	46,156
Restricted cash	—		1,501
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$	28,756	$	47,657

Cash, Cash Equivalents and Restricted Cash, Reconciliation

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets that sum to the total of the same such amounts shown in the statements of cash flows.

(in thousands)	September 30, 2022		December 31, 2021
Cash and cash equivalents	$	28,756	$	46,156
Restricted cash	—		1,501
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$	28,756	$	47,657

Accrued Expenses and Other Current Liabilities

Accrued expenses and other liabilities consist of the following:

(in thousands)	September 30, 2022		December 31, 2021
Accrued payroll	$	366	$	320
Accrued patient treatment costs	754		2,086
Accrued clinical research costs	951		479
Accrued manufacturing costs	592		328
Accrued professional services	224		305
Accrued other	201		331
Total accrued expenses and other current liabilities	$	3,088	$	3,849

Computation Of Basic And Diluted Income (Loss) Per Share

The following table sets forth the computation of basic and diluted earnings per share:

(in thousands, except share and per share amounts)	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Net (loss) income per share - basic:
Net (loss) income	$	(7,213)	$	1,233	$	(18,776)	$	(12,236)
Less: undistributed earnings to participating securities	—		(469)		—		—
Net (loss) income attributable to common shareholders	$	(7,213)	$	764	$	(18,776)	$	(12,236)
Weighted-average shares outstanding, basic	30,831,161		10,108,388		30,826,683		10,086,246
Basic net (loss) income per share	$	(0.23)	$	0.08	$	(0.61)	$	(1.21)
Net (loss) income per share - diluted:
Net (loss) income attributable to common shareholders, basic	$	(7,213)	$	764	$	(18,776)	$	(12,236)
Weighted-average shares outstanding, basic	30,831,161		10,108,388		30,826,683		10,086,246
Effect of dilutive securities:
Stock Options and restricted units	—		86,280		—		—
Weighted-average shares outstanding, diluted	30,831,161		10,194,668		30,826,683		10,086,246
Diluted net (loss) income per share	$	(0.23)	$	0.07	$	(0.61)	$	(1.21)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following outstanding shares of common stock equivalents were excluded from the computations of diluted loss per share of common stock attributable to common stockholders for the periods presented as the effect of including such securities would be anti-dilutive.

	September 30, 2022	September 30, 2021
Anti-dilutive common stock equivalents:	Number of Shares
Redeemable convertible series 1 preferred stock	4,520,000	4,520,000
Warrants to purchase common stock	5,750,000	11,616,080
Private placement option	—	9,675,000
Options to purchase common stock	3,658,489	1,985,277
Unvested shares of restricted stock units	225,633	168,980
Total anti-dilutive common stock equivalents	14,154,122	27,965,337