Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (24,172) $ (25,761)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 978 1,276
Stock-based compensation expense 2,869 1,697
Change in fair value of warrant and derivative liabilities (7,626) 6,364
Non-cash gain of right-of-use lease assets (1,065)
Accretion and interest on short-term investments (66) (74)
Amortization of right-of-use lease assets 431 450
Non-cash interest 735 204
(Gain) loss on disposal of property and equipment (2) 47
Change in operating assets and liabilities:    
Accounts receivable (3,500)
Other receivables 804 (2,039)
Prepaid expenses and other current assets (639) (777)
Other assets 177 (65)
Accounts payable and accrued expenses (121) 1,836
Lease liabilities (590) (622)
Other current liabilities 1
Net cash used in operating activities (27,222) (22,028)
Cash flows from investing activities:    
Capital expenditures (1,436) (250)
Proceeds from disposal of property and equipment 18 179
Purchases of short-term investments (89,890) (14,156)
Proceeds from maturities of short-term investments 39,359 21,649
Net cash (used in) provided by investing activities (51,949) 7,422
Cash flows from financing activities:    
Proceeds from ATM sales of common stock, net of issuance costs 9,962 6,623
Payments related to net settlement of restricted share awards (28) (9)
Proceeds from underwritten sales of common stock, net of issuance costs 70,153
Proceeds from issuance of long-term debt 20,000
Payment of debt issuance costs (963)
Net cash provided by financing activities 99,124 6,614
Net increase (decrease) in cash, cash equivalents and restricted cash 19,953 (7,992)
Cash, cash equivalents and restricted cash at beginning of period 14,811 14,555
Cash, cash equivalents and restricted cash at end of period 34,764 6,563
Supplemental cash flow information:    
Cash and cash equivalents 34,426 6,225
Restricted cash 338 338
Total cash, cash equivalents and restricted cash 34,764 6,563
Supplemental non-cash flow information:    
Right-of-use asset obtained in exchange for new operating lease liabilities 419
Derivative and warrant additions associated with loan and security agreement 1,042
Cash paid for interest 1,290
Cash paid for taxes $ 7 $ 6