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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (30,340,000) $ (12,099,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 4,796,000 3,112,000
Accretion of debt discount 126,000
Changes in operating assets and liabilities:    
Research and development tax credit receivable (3,227,000) (1,118,000)
Other tax receivable (478,000) (36,000)
Prepaid expenses (2,058,000) (122,000)
Prepaid expenses – related party (14,000) 26,000
Other assets (99,000)
Accounts payable and accrued liabilities 2,215,000 1,116,000
Accounts payable and accrued liabilities – related parties 46,000 (40,000)
Deferred liabilities 284,000 191,000
Accrued liability – long-term 199,000
Operating lease liabilities 46,000 27,000
Net cash used in operating activities (28,504,000) (8,943,000)
CASH FROM INVESTING ACTIVITIES    
Cash paid to Xencor to settle warrant for acquired research and development intangible assets (15,000,000)
Net cash used in investing activities (15,000,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from the issuance of debt 14,951,000
Net proceeds from sale of common stock 80,253,000 24,907,000
Net proceeds from the exercise of stock options 1,135,000
Net proceeds from the exercise of warrants 18,000
Purchase of common stock (1,012,000)
Net cash provided by financing activities 96,357,000 23,895,000
Impact on cash from foreign currency translation (10,000) 19,000
NET INCREASE IN CASH 52,843,000 14,971,000
CASH AT BEGINNING OF YEAR 21,967,000 6,996,000
CASH AT END OF YEAR 74,810,000 21,967,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:    
Cash paid for income taxes
Cash paid for interest expense 559,000
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued to Xencor to settle warrant issued for acquired research and development intangible assets 3,300,000
Warrants issued to lenders as debt inducement 619,000
Capital contribution 216,000
Issuance of common stock issuable $ 50,000