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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:        
Net loss $ (33,018) $ (7,553) $ (52,556) $ (55,637)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 48 23 68 3
Gain on cancellation of unwind fee       (9,550)
Write-off of deferred offering costs     331 1,978
Stock-based compensation expense 2,505 3,151 5,892 5,220
Change in fair value of convertible notes 6,110 (15,928) 4,416 (795)
Litigation settlement, non-cash through the issuance equity       28,966
Other   (2) (3) (34)
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets 33 (12) (66) 182
Accounts payable (1,460) 810 6,613 (898)
Accrued expenses and other liabilities 4,656 3,713 (105) 2,158
Other assets and liabilities (17) 198 (174) (26)
Net cash used in operating activities (21,143) (15,600) (35,584) (28,433)
Cash flows from investing activities:        
Purchases of property and equipment   (69) (306) (170)
Net cash used in investing activities   (69) (306) (170)
Cash flows from financing activities:        
Proceeds from issuance of convertible notes 14,000 12,000 44,500 15,000
Payments for offering costs       (1,437)
Payment of note payable     (3,992)  
Net cash provided by financing activities 14,000 12,000 40,508 13,563
Net increase (decrease) in cash (7,143) (3,669) 4,618 (15,040)
Cash at beginning of period 9,746 5,128 5,128 20,168
Cash at end of period $ 2,603 $ 1,459 $ 9,746 5,128
Non-cash investing activities        
Property and equipment assets obtained in exchange for accounts payable       27
Non-cash financing activities:        
Issuance of common stock in connection with litigation settlement       28,966
Operating lease assets obtained in exchange for operating lease liabilities       747
Unpaid deferred offering costs       $ 33