Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net Income (Loss) $ (25,430,000) $ (51,207,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation 1,060,000 3,653,000
Change in fair value of warrants (686,000) 0
Depreciation of property and equipment 32,000 88,000
Loss on disposal of property and equipment 76,000 0
Amortization of right-of-use assets 372,000 378,000
Interest on lease liabilities 64,000 93,000
Interest on loan payable to related party 18,000 0
Change in operating assets and liabilities:    
Prepaid expenses (211,000) 261,000
Operating lease payments (458,000) (405,000)
Other assets 30,000 (343,000)
Accounts payable 0 0
Accounts payable, related party (2,554,000) (430,000)
Accounts payable (2,234,000) 150,000
Accrued liabilities, related party 0 (572,000)
Accrued liabilities (6,056,000) 3,744,000
Cash used in operating activities (35,977,000) (44,590,000)
Cash flows from financing activities:    
Proceeds from loan payable with related parties 10,000,000 0
Cash provided by financing activities 33,414,000 6,910,000
Cash flows from investing activities:    
Maturity of investments, net 0 9,989,000
Proceeds from disposal of property and equipment 23,000 0
Purchase of property and equipment (5,000) (29,000)
Cash provided by investing activities 18,000 9,960,000
Effect of exchange rate fluctuations on cash and cash equivalents 0 2,000
Decrease in cash, cash equivalents, and restricted cash equivalents (2,545,000) (27,718,000)
Cash, cash equivalents and restricted cash, beginning of year 9,252,000 36,970,000
Cash, cash equivalents and restricted cash, end of the year 6,707,000 9,252,000
Cash and cash equivalents 6,152,000 9,252,000
Restricted cash equivalents, current 555,000 0
Total cash, cash equivalents, and restricted cash equivalents shown in the consolidated statements of cash flows 6,707,000 9,252,000
November 2024 Public Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares and warrants 6,920,000 0
2023 Committed Equity Facility [Member]    
Cash flows from financing activities:    
Issuance of common shares   2,100,000
2023 Committed Equity Facility [Member]    
Cash flows from financing activities:    
Issuance of common shares 635,000 2,083,000
The 2022 ATM Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares (21,000) 1,809,000
June 2024 Registered Direct Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 4,024,000 0
January 2024 Public Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares and warrants 8,127,000 0
Hanmi Private Placement [Member]    
Cash flows from financing activities:    
Issuance of common shares and warrants 3,701,000 2,989,000
June 2024 Pre-funded Warrants [Member]    
Cash flows from financing activities:    
Proceeds from warrant exercise 2,000 0
ESPP [Member]    
Cash flows from financing activities:    
Issuance of common shares $ 26,000 $ 29,000