General form of registration statement for all companies including face-amount certificate companies

Statements of Cash Flows

v3.24.4
Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ 18,691 $ (27,552)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash interest (income) expense – royalty agreement (6,265) 10,364
Change in fair value of derivative liabilities - royalty agreement (485) 300
Gain on extinguishment – royalty agreement (23,098) 0
Stock-based compensation 603 427
Change in operating assets and liabilities:    
Prepaid expenses and other assets 273 695
Accounts payable (2,245) 1,980
Accrued expenses and other current liabilities (1,177) (1,054)
Net cash used in operating activities (13,703) (14,840)
Cash flows from financing activities    
Proceeds from issuance of Series D preferred stock, net 0 9,532
Proceeds from amendment to royalty agreement 5,000 0
Exercise of stock options 0 34
Net cash provided by financing activities 5,000 9,566
Net increase (decrease) in cash and cash equivalents (8,703) (5,274)
Cash and cash equivalents at beginning of year 16,053 21,327
Cash and cash equivalents at end of period $ 7,350 $ 16,053