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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (19,469) $ (15,774)
Adjustments to reconcile net loss to net cash used in operating activities    
Compensation cost for stock options granted 5,243 3,648
Depreciation and amortization 6 21
Disposal of assets 3 0
Changes in operating assets and liabilities:    
Prepaid expenses (2,619) (69)
Research and development rebate receivable 462 (300)
Other assets 395 643
Accounts payable (64) (921)
Accrued expenses (87) (18)
Payroll liabilities (113) (51)
Other current liabilities 6 14
Net cash used in operating activities (16,237) (12,807)
CASH FLOWS FROM INVESTING ACTIVITY    
Deposit on investment in equity securities (2,700) 0
Purchase of furniture and equipment (19) (9)
Net cash used in investing activities (2,719) (9)
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 0 43,818
Proceeds from exercise of employee stock options 0 391
Payment of taxes related to net-exercise of employee stock options 0 (574)
Net cash provided by financing activities 0 113,303
Effect of exchange rate change on cash (54) 0
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (19,010) 100,487
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE 136,487 39,664
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 117,477 140,151
SUPPLEMENTAL DISCLOSURES    
Cash and cash equivalents 117,367 140,041
Restricted cash 110 110
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 117,477 140,151
NONCASH INVESTING AND FINANCING ACTIVITIES    
Reclassification of the warrant liability to equity upon adoption of accounting standard 0 13,003
Common stock issued upon cashless exercise of stock options 0 1,331
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 $ 37