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Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (7,039) $ (11,457) $ (10,577)
Adjustments to reconcile net loss to net cash used in operating activities      
Compensation cost for stock options granted   3,577 1,854
Depreciation and amortization   4 15
Disposal of assets   1 0
Changes in operating assets and liabilities:      
Prepaid expenses   (2,816) (578)
Research and development rebate receivable   172 (182)
Other assets   (974) 582
Accounts payable   335 (1,051)
Accrued expenses   630 438
Payroll liabilities   (309) (263)
Other current liabilities   10 17
Net cash used in operating activities   (10,827) (9,745)
CASH FLOWS FROM INVESTING ACTIVITY      
Purchase of furniture and equipment   (13) 0
Net cash used in investing activities   (13) 0
CASH FLOWS FROM FINANCING ACTIVITY      
Proceeds from issuance of common stock and warrants, net of issuance costs   0 69,668
Proceeds from exercise of warrants 10,196 0 42,956
Net cash provided by financing activities   0 112,624
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH   (10,840) 102,879
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE   136,487 39,664
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 142,543 125,647 142,543
SUPPLEMENTAL DISCLOSURES      
Cash and cash equivalents 142,433 125,537 142,433
Restricted cash 110 110 110
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 142,543 125,647 142,543
NONCASH INVESTING AND FINANCING ACTIVITIES      
Reclassification of the warrant liability to equity upon adoption of accounting standard   0 13,003
Conversion of Series B Convertible Preferred Stock into Common Stock [Member]      
NONCASH INVESTING AND FINANCING ACTIVITIES      
Conversion of Series B convertible preferred stock to common stock   $ 0 $ 34