Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended 13 Months Ended
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Cash flows from operating activities:              
Net loss $ (11,955,000) $ (13,676,000) $ (10,000,000) $ (11,481,000) $ (51,207,000) $ (41,823,000)  
Items not involving cash:              
Stock-based compensation         3,653,000 5,207,000  
Depreciation and amortization         88,000 120,000  
Disposal of property and equipment         0 16,000  
Amortization of right-of-use assets         378,000 408,000  
Interest on lease liabilities         93,000 35,000  
Unrealized foreign exchange gain/(loss)         0 4,000  
Accrued interest on investments         0 (60,000)  
Change in operating working capital:              
Prepaid expenses         261,000 173,000  
Operating lease payments         (405,000) (546,000)  
Other assets         (343,000) (124,000)  
Accounts payable, related party         (430,000) 2,984,000  
Accounts payable         150,000 4,627,000  
Accrued liabilities, related party         (572,000) 572,000  
Accrued liabilities         3,744,000 (3,915,000)  
Cash used in operating activities         (44,590,000) (32,322,000)  
Cash flows from financing activities:              
Issuance of common shares pursuant to exercise of stock options         0 15,000  
Cash provided by financing activities         6,910,000 116,000  
Cash flows from (used in) investing activities:              
Maturity (acquisition) of investments, net         9,989,000 30,090,000  
Purchase of property and equipment         (29,000) (24,000)  
Cash provided by (used in) investing activities         9,960,000 30,066,000  
Effect of exchange rate fluctuations on cash and cash equivalents held         2,000 (4,000)  
Decrease in cash and cash equivalents         (27,718,000) (2,144,000)  
Cash and cash equivalents, beginning of year   $ 36,970,000   $ 39,114,000 36,970,000 39,114,000  
Cash and cash equivalents, end of year $ 9,252,000   $ 36,970,000   9,252,000 36,970,000 $ 9,252,000
Hanmi [Member]              
Cash flows from financing activities:              
Issuance of common shares         2,989,000 0  
2023 Committed Equity Facility [Member]              
Cash flows from financing activities:              
Issuance of common shares         2,083,000 0  
The 2022 ATM Offering [Member]              
Cash flows from financing activities:              
Issuance of common shares         1,809,000 51,000 $ 1,900,000
The 2020 ATM Offering [Member]              
Cash flows from financing activities:              
Issuance of common shares         0 50,000  
ESPP [Member]              
Cash flows from financing activities:              
Issuance of common shares         $ 29,000 $ 0