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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (30,094,000) $ (26,960,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 4,621,000 6,788,000
Impairment charge on investment in equity securities 2,990,000 0
Depreciation 23,000 8,000
Disposal of assets 0 3,000
Changes in operating assets and liabilities:    
Prepaid materials 2,544,000 (2,953,000)
Research and development tax rebate receivable 743,000 329,000
Prepaid expenses and other current assets 261,000 180,000
Other assets (1,697,000) (597,000)
Accounts payable (2,159,000) 1,248,000
Accrued expenses (86,000) 855,000
Payroll liabilities 129,000 341,000
Other current liabilities 1,784,000 (2,000)
Net cash used in operating activities (20,941,000) (20,760,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investment in equity securities 0 (4,700,000)
Purchase of property and equipment (14,000) (27,000)
Net cash used in investing activities (14,000) (4,727,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Common stock repurchased (1,475,000) 0
Net cash used in financing activities (1,475,000) 0
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (22,430,000) (25,487,000)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE 111,000,000 136,487,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 88,570,000 111,000,000
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 88,460,000 110,890,000
Restricted cash 110,000 110,000
Total cash, cash equivalents and restricted cash $ 88,570,000 $ 111,000,000