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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net loss $ (12,854,000) $ (6,105,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of rights from Private Placement 3,832,000 (1,221,000)
Change in fair value of notes payable 9,000 13,000
Non-cash stock-based compensation 846,000 2,924,000
Non-cash operating lease expense 403,000 359,000
Depreciation and amortization 0 4,000
Common stock issued for services 469,000 41,000
Gain on disposal of asset 0 (92,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (236,000) 206,000
Accounts payable 3,790,000 (529,000)
Accrued expenses and other current liabilities (1,027,000) (1,654,000)
Operating lease liability (466,000) (409,000)
License receivable 0 (5,000,000)
Deferred revenue 0 (442,000)
Net cash used in operating activities (5,234,000) (11,905,000)
Investing activities:    
Proceeds from sale of property and equipment 0 303,000
Net cash provided by investing activities 0 303,000
Financing activities:    
Proceeds from private placement 0 5,479,000
Proceeds from issuance of common stock and pre-funded warrants 500,000 752,000
Proceeds from exercise of warrants 1,000 17,000
Repayments of notes payable (150,000) 0
Repayments of finance lease liabilities 0 (19,000)
Net cash provided by financing activities 351,000 6,229,000
Net change in cash and restricted cash (4,883,000) (5,373,000)
Cash and restricted cash at beginning of year 5,858,000 13,268,000
Cash and restricted cash at end of year 975,000 7,895,000
Components of cash and restricted cash:    
Cash 900,000 7,770,000
Restricted cash 75,000 125,000
Total cash and restricted cash 975,000 7,895,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 19,000 25,000
Supplemental disclosure of noncash investing and financing activities:    
Withholding to cover taxes from RSU vesting $ 0 $ 69,000