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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (6,049,000) $ (9,830,000) $ (11,927,000) $ (16,111,000)
Adjustments to reconcile net loss to net cash used in operating activities        
Stock-based compensation     769,000 3,176,000
Impairment charge on investment in equity securities 0 2,990,000 0 2,990,000
Depreciation     9,000 6,000
Loss on disposal of assets     4,000 0
Changes in operating assets and liabilities:        
Prepaid materials     392,000 785,000
Prepaid expenses and other current assets     1,175,000 (91,000)
Other assets     (111,000) 0
Accounts payable     250,000 (1,943,000)
Accrued expenses     934,000 (256,000)
Payroll liabilities     (715,000) (70,000)
Other current liabilities     (9,000) 27,000
Net cash used in operating activities     (9,229,000) (11,487,000)
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchases of property and equipment     (9,000) (13,000)
Net cash used in investing activities     (9,000) (13,000)
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from exercise of warrants     304,000 0
Net cash used in financing activities     304,000 0
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH     (8,934,000) (11,500,000)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE     88,570,000 111,000,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 79,636,000 99,500,000 79,636,000 99,500,000
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH        
Cash and cash equivalents 79,526,000 99,390,000 79,526,000 99,390,000
Restricted cash 110,000 110,000 110,000 110,000
Total cash, cash equivalents and restricted cash $ 79,636,000 $ 99,500,000 79,636,000 99,500,000
NON CASH INVESTING AND FINANCING ACTIVITIES        
Unsettled trades for repurchase of common stock     0 152,000
Common stock issued upon cashless exercise of stock options     $ 228,000 $ 0