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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (6,229) $ (8,011) $ (22,340) $ (19,469)
Adjustments to reconcile net loss to net cash used in operating activities        
Compensation cost for stock options granted     4,102 5,243
Impairment charge on investment in equity securities (0) (0) 2,990 (0)
Depreciation and amortization     9 6
Disposal of assets     0 3
Changes in operating assets and liabilities:        
Prepaid expenses     559 (2,619)
Research and development rebate receivable     715 462
Other current assets     719 992
Other assets     0 (597)
Accounts payable     (2,247) (64)
Accrued expenses     202 (87)
Payroll liabilities     (81) (113)
Other current liabilities     2 6
Net cash used in operating activities     (15,370) (16,237)
CASH FLOWS FROM INVESTING ACTIVITIES        
Deposit on investment in equity securities     0 (2,700)
Purchase of furniture and equipment     (14) (19)
Net cash used in investing activities     (14) (2,719)
CASH FLOWS FROM FINANCING ACTIVITIES        
Common stock repurchased     (1,475) 0
Net cash used in financing activities     (1,475) 0
Effect of exchange rate change on cash     0 (54)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH     (16,859) (19,010)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE     111,000 136,487
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 94,141 117,477 94,141 117,477
SUPPLEMENTAL DISCLOSURES        
Cash and cash equivalents 94,031 117,367 94,031 117,367
Restricted cash 110 110 110 110
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Balance Sheets $ 94,141 $ 117,477 $ 94,141 $ 117,477