Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net loss $ (13,183) $ (5,101)
Adjustments to reconcile net loss to net cash (used in) operating activities:    
Depreciation and amortization 605 845
Right-of-use asset (accretion) amortization (34) (5)
Stock-based compensation 884 1,178
Realized investment gains 53 0
Other non-cash transactions 72 91
Changes in operating assets and liabilities 607 (19,651)
Net cash provided by (used in) operating activities (10,996) (22,643)
Investing activities:    
Purchases of property and equipment (48) (389)
Proceeds from maturity of investments 13,495 0
Purchases of investments (1,544) (16,559)
Net cash (used in) investing activities 11,903 (16,948)
Financing activities:    
Proceeds from exercise of stock options 0 85
Proceeds from issuance of common stock resulting from ATM sales, net of $0.3 million in transaction costs 0 6,473
Net cash provided by financing activities 0 6,558
Effect of exchange rate change on cash and cash equivalents 200 (994)
Net decrease in cash and cash equivalents 1,107 (34,027)
Cash and cash equivalents at beginning of period 38,635 117,764
Cash and cash equivalents at end of period 39,742 83,737
Supplemental cash flow disclosures:    
Net unrealized gain on investments 70 (19)
Property and equipment included in accounts payable $ 16 $ 298