Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (54,225)	$ (27,466)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity-based compensation expense	2,636	2,005
Depreciation and amortization	69	55
In process research and development expenses	30,393	0
Amortization/accretion on marketable securities	788	2,514
Changes in operating assets and liabilities:
Prepaid and other current assets	(845)	(453)
Other assets	237	(150)
Accounts payable, accrued liabilities and other liabilities	(223)	1,250
Net cash used in operating activities	(21,170)	(22,245)
Cash flows from investing activities:
Purchase of marketable securities	(89,687)	(179,775)
Sales of marketable securities	122,203	124,939
Asset acquisition costs, net of cash acquired related to Merger	(3,320)	0
Purchases of property and equipment	(285)	(60)
Net cash provided by (used in) investing activities	28,911	(54,896)
Cash flows from financing activities:
Proceeds from exercise of options	0	24
Tax withholding payments on net share settlement equity awards	(267)	(248)
Net proceeds from issuance of capital stock	43	85,500
Net cash (used in) provided by financing activities	(224)	85,276
Effect of Exchange Rate on Cash	(10)	0
Net increase in cash and cash equivalents	7,507	8,135
Cash and cash equivalents at beginning of year	24,647	16,512
Cash and cash equivalents at end of year	32,154	24,647
Supplemental Disclosure of Cash Flow Information:
Issuance of common stock in connection with Merger	23,580	0
Incremental fair value of Cend's fully vested stock options assumed	$ 2,136	$ 0