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Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net loss $ (17,659,000) $ (12,413,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 220,000 165,000
Stock-based compensation expense 695,000 531,000
Non-cash lease expense 613,000 274,000
Non-cash interest and other expense, net 232,000 286,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 447,000 987,000
Accounts payable 438,000 5,445,000
Accrued expenses and other liabilities 323,000 (1,197,000)
Interest payable 9,000 89,000
Operating lease liabilities (839,000) (350,000)
Cash used in operating activities (15,521,000) (6,183,000)
Investing activities:    
Purchase of property and equipment (98,000) (84,000)
Cash used in investing activities (98,000) (84,000)
Financing activities:    
Proceeds from the issuance of common stock, net of issuance costs 8,498,000 30,010,000
Proceeds from issuance of pre-funded warrants, net of issuance costs 7,281,000 0
Borrowings on loan payable 0 15,000,000
Payment of loan issuance costs 0 (93,000)
Cash acquired in connection with reverse recapitalization 0 17,045,000
Payment of reverse recapitalization transaction costs 0 (6,074,000)
Proceeds from option exercises 0 17,000
Cash provided by financing activities 15,779,000 55,905,000
Net increase in cash and cash equivalents 160,000 49,638,000
Cash, cash equivalents and restricted cash at beginning of period 51,829,000 18,820,000
Cash, cash equivalents and restricted cash at end of period 51,989,000 68,458,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 556,000 383,000
Non-cash operating activities:    
Lease modification 884,000 0
Non-cash investing activities:    
Property and equipment in accounts payable 4,000 0
Non-cash financing activities:    
Vesting of early exercise stock options $ 0 $ 95,000