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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from Operating Activities      
Loss for the year $ (21,676) $ (15,036) $ (15,375)
Adjustments to reconcile loss to net cash used in operating activities 4,619 2,911 3,880
Net cash used in operating activities (17,057) (12,125) (11,495)
Cash Flows from Investing Activities      
Changes in short term deposits 10,297 (12,347) 67
Proceeds from sales of marketable securities 68
Investment in SAFE (286)
Investment in equity securities (715)
Purchase of fixed assets (313) (235) (50)
Net cash provided by (used in) investing activities 8,983 (12,582) 85
Cash flows from Financing Activities      
Issuance of ordinary shares, net of issuance expenses 13,508 45,017
Proceeds from exercise of warrants 595
Proceeds from exercise of options 57 263
Net cash provided by financing activities 14,160 45,280
Effect of exchange rate changes on cash and cash equivalents (839) (37) 75
(Decrease) increase in cash and cash equivalents and restricted cash (8,913) (10,584) 33,945
Cash and cash equivalents and restricted cash at the beginning of the period 28,188 38,772 4,827
Cash and cash equivalents and restricted cash at the end of the period 19,275 28,188 38,772
Adjustments to reconcile loss to net cash used in operating activities:      
Share-based payment 1,826 2,464 1,162
Depreciation 218 159 254
Equity in net loss of an affiliated company 2,718
Revaluation of marketable securities 2,217 30 (87)
Exchange rate changes on cash and cash equivalents 839 37 (75)
Changes in assets and liabilities:      
Decrease (increase) in other current assets (182) (259) 212
Increase (decrease) in trade payables 62 (138) (296)
Change in operating lease liability (289) (33) 60
Increase (decrease) in other payables (72) 651 (68)
Non-Cash Activities      
Accrued issuance expenses recorded in shareholders’ equity 310
Conversion of SAFE to investment in equity securities $ 286