XML 18 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net loss $ (5,852,000) $ (398,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 11,328 0
Non-cash lease expense 81,000  
Stock-based compensation expense 919,000  
Changes in operating assets and liabilities:    
Prepaid expenses & other current assets (292,000) 17,000
Other assets 12,000  
Accounts payable 41,000 70,000
Accrued liabilities 1,091,000 59,000
Lease liabilities (86,000)  
Net cash used in operating activities (4,075,000) (252,000)
Investing Activities    
Purchase of property and equipment (67,000)  
Purchase of short-term and long-term investments (38,443,000)  
Net cash used in investing activities (38,510,000)  
Financing Activities    
Proceeds from issuance of common stock   50,000
Series A financing costs incurred (3,000)  
Net cash (used in) provided by financing activities (3,000) 50,000
Net decrease in cash, cash equivalents, and restricted cash (42,588,000) (202,000)
Cash, cash equivalents, and restricted cash at the beginning of the period 61,695,000 239,000
Cash, cash equivalents, and restricted cash at the end of the period 19,107,000 37,000
Non-cash financing and investing activities:    
Acquisition of fixed assets 29,000  
Unpaid deferred offering costs 1,226,000  
Change in unrealized gain/loss on investments (15,000)  
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 18,891,000 37,000
Restricted cash 216,000  
Cash, cash equivalents, and restricted cash at the end of the period $ 19,107,000 $ 37,000