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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (7,731,000) $ (7,102,000)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation expense 9,000 8,000
Amortization expense - right-of-use leased assets - operating 93,000 98,000
Accretion expense 4,000 79,000
Stock-based compensation 636,000 521,000
Non-cash interest expense 114,000 127,000
Changes in operating assets and liabilities    
Prepaid expenses and other assets 187,000 (119,000)
Accounts payable, accrued expenses and other liabilities (681,000) (2,227,000)
Net cash used in operating activities (7,369,000) (8,615,000)
Cash flows from investing activities    
Purchases of property and equipment (6,000)  
Maturities of short-term investments   16,700,000
Purchases of short-term investments (12,784,000) (3,995,000)
Net cash provided by (used in) investing activities (12,790,000) 12,705,000
Cash flows from financing activities    
Principal payments on term loan (2,500,000)  
Proceeds from the exercise of vested stock options 21,000 9,000
Settlements of restricted stock units for tax withholding obligations   (81,000)
Net cash used in financing activities (2,479,000) (72,000)
Net increase (decrease) in cash, cash equivalents and restricted cash (22,638,000) 4,018,000
Cash, cash equivalents and restricted cash at beginning of period 74,450,000 72,001,000
Cash, cash equivalents and restricted cash at end of period 51,812,000 76,019,000
Supplemental cash flow information    
Interest paid 425,000 597,000
Taxes paid $ 36,000 $ 42,000