Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows used in operating activities:          
Net loss $ (11,447,000) $ (9,777,000) $ (39,252,000) $ (31,823,000)  
Items not involving cash:          
Stock-based compensation 599,000 1,053,000 3,242,000 4,346,000  
Depreciation and amortization 20,000 30,000 70,000 92,000  
Loss on disposal of property and equipment 0 0 0 4,000  
Amortization of right-of-use assets 91,000 111,000 286,000 336,000  
Interest on lease liabilities 23,000 4,000 73,000 17,000  
Unrealized (gain)/loss on short-term investment (1,000) 7,000 (3,000) 10,000  
Accrued interest on investments (44,000) 78,000 (56,000) 85,000  
Changes in non-cash operating assets and liabilities:          
Prepaid expenses 29,000 825,000 646,000 1,638,000  
Other current assets (44,000) (225,000) (4,000) (213,000)  
Operating lease liabilities (117,000) (134,000) (290,000) (411,000)  
Accounts payable (690,000) 23,000 (3,515,000) 717,000  
Accrued liabilities 1,045,000 1,026,000 3,472,000 1,531,000  
Cash used in operating activities (10,536,000) (6,979,000) (35,331,000) (23,671,000)  
Cash flows from financing activities:          
Shares issuances to Hanmi under subscription agreement 3,000,000 0 3,000,000 0  
Cost of offering (5,000) 0 (10,000) 0  
Issuance of common shares under the ESPP plan 13,000   29,000    
Issuance of common shares upon exercise of stock options 0 0 0 15,000  
Cash from financing activities 4,902,000 21,000 6,056,000 65,000  
Cash flows from/(used in) investing activities:          
Maturity (acquisition) of investments, net 12,953,000 (5,078,000) 8,051,000 12,517,000  
Purchase of property and equipment     (29,000) (24,000)  
Cash from/(used in) investing activities 12,953,000 (5,078,000) 8,022,000 12,493,000  
Effect of exchange rate fluctuations on cash and cash equivalents 1,000 (7,000) 3,000 (10,000)  
Increase (decrease) in cash and cash equivalents 7,320,000 (12,043,000) (21,250,000) (11,123,000)  
Cash and cash equivalents, beginning of period 8,400,000 40,034,000 36,970,000 39,114,000 $ 39,114,000
Cash and cash equivalents, end of period 15,720,000 27,991,000 15,720,000 27,991,000 36,970,000
The 2022 ATM Offering [Member]          
Cash flows from financing activities:          
Issuance of common shares 694,000 0 1,837,000 0 $ 51,000
The 2020 ATM Offering [Member]          
Cash flows from financing activities:          
Issuance of common shares   21,000   50,000  
2023 Committed Equity Facility [Member]          
Cash flows from financing activities:          
Issuance of common shares 1,150,000 0 1,150,000 0  
Share subscription advance under the 2023 Committed Equity Facility $ 50,000 $ 0 $ 50,000 $ 0