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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net Loss $ (31,385) $ (51,660)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash rent expense 0 (29)
Stock based compensation 5,220 16,618
Depreciation and amortization 322 204
Impairment loss on operating lease 66 136
Gain on sale of Legacy Assets (78) 0
Loss on disposal of fixed assets 37 94
Change in the fair value of contingent consideration liabilities 1,578 0
Change in fair value of EIB loan 338 0
Non-cash goodwill impairment charge 0 825
Non-cash intangible impairment charge 5,900 0
Amortization of discount on available-for-sale investments (2,019) (113)
Change in deferred tax liabilities due to acquisition of Novosteo, Inc. (248) (284)
Changes in operating assets and liabilities, net of acquisitions:    
Prepaid expenses and other current assets 4,246 2,580
Other assets (9) 194
Accounts payable (288) (5,943)
Accrued expenses and other current liabilities (1,972) (6,660)
Net cash used in operating activities (18,292) (44,038)
Cash flow from investing activities:    
Purchase of investments (113,781) (75,021)
Proceeds from maturities of investments 111,209 82,493
Cash acquired from Novosteo, Inc. 0 10,593
Advancement of notes receivable (1,000) 0
Cash paid in acquisition of EryDel S.p.A. net of cash acquired (2,116) 0
Proceeds from disposal of assets 90 70
Purchase of property and equipment (160) (133)
Net cash provided by (used in) investing activities (5,758) 18,002
Cash flows from financing activities:    
Payments of finance leases (6) (49)
Proceeds from issuance of common stock upon exercise of stock options 149 148
Proceeds from issuance of common stock in connection with open market sales agreement, net of issuance costs 0 608
Net cash provided by financing activities 143 707
Effect of exchange rate changes on cash 80 184
Net decrease in cash and cash equivalents (23,827) (25,145)
Cash and cash equivalents at beginning of period 44,579 69,724
Cash and cash equivalents at end of period 20,752 44,579
Supplemental disclosures of non-cash information:    
Right-of-use assets obtained in exchange for new operating lease liabilities 0 411
Right-of-use asset and financing lease liability reduction as a result of lease modification (70) 0
Right-of-use asset and operating lease liability reduction as a result of lease modification 0 (640)
EryDel    
Supplemental disclosures of non-cash information:    
Net assets acquired in exchange for common stock 63,732 0
Novosteo    
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash goodwill impairment charge   800
Supplemental disclosures of non-cash information:    
Net assets acquired in exchange for common stock $ 0 $ 16,503