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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating activities    
Net loss $ (21,312) $ (15,529)
Adjustments to reconcile net loss to net cash used in operating activities:    
In process research and development exchanged for common stock 12,151 1,815
Stock-based compensation 118  
Non cash interest related to convertible notes – related party 129 41
Loss on note extinguishment – related party 1,114  
Depreciation 17  
Change in assets and liabilities, net of the effects of the reverse asset acquisition:    
Prepaid expenses and other assets 824 (969)
Accounts payable (1,046) 170
Accrued and other liabilities 966 21
Net cash used in operating activities (7,039) (14,451)
Investing activities    
Cash acquired in connection with reverse asset acquisition 1,525  
Transaction costs in connection with reverse asset acquisition (7,368)  
Purchases of property and equipment (214) (3)
Net cash used in investing activities (6,057) (3)
Financing activities    
Proceeds from issuance of redeemable preferred stock 24,240 16,800
Proceeds from issuance of convertible notes to related parties   500
Exercise of stock options 1  
Issuance costs (74) (54)
Net cash provided by financing activities 24,167 17,246
Net increase in cash and restricted cash 11,071 2,792
Net foreign exchange difference 7 3
Cash and restricted cash at beginning of period 2,845 50
Cash and restricted cash at end of period 13,923 2,845
Supplemental disclosure of cash flow information:    
Cash paid for interest 1  
Supplemental non-cash financing transactions:    
Conversion of convertible notes to common stock 548  
Common stock and warrants issued in connection with the merger 4,466  
Net liabilities assumed in connection with the merger 1,537  
Unpaid transaction costs in accounts payable and accrued expenses related to the merger 306  
Beneficial conversion feature related to convertible notes 104 $ 401
Operating lease right of use asset obtained in exchange for operating lease 126  
SeriesA and Series B Redeemable Convertible Preferred Stock    
Supplemental non-cash financing transactions:    
Conversion of Series A and Series B preferred stock to common $ 40,912