Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (4,445,000) $ (1,209,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 44,000 46,000
Stock-based compensation 405,000 397,000
Change in fair value of warrant liability (1,577,000) (3,845,000)
Operating lease, net 113,000 99,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 299,000 611,000
Accounts payable 799,000 (947,000)
Accrued expenses and other current liabilities 738,000 506,000
Net cash used in operating activities (3,624,000) (4,342,000)
Cash flows from investing activities:    
Purchase of fixed assets 0 (2,000)
Net cash used in investing activities 0 (2,000)
Cash flows from financing activities:    
Proceeds from exercise of warrants 63,000 0
Proceeds from sale of common stock, net of issuance costs 74,685,000 5,291,000
Net cash provided by financing activities 74,748,000 5,291,000
Effect of exchange rate changes on cash and cash equivalents (4,000) (33,000)
Net change in cash and cash equivalents 71,120,000 914,000
Cash and cash equivalents, at beginning of period 15,173,000 10,735,000
Cash and cash equivalents, at end of period 86,293,000 11,649,000
Supplemental disclosures of cash flow information:    
Cash paid for taxes 0 6,000
Non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable and accrued liabilities $ 0 $ 23,000