Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (10,270) $ (9,749)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 931 802
Amortization of discount on marketable securities (648) (432)
Non-cash lease expense 37 34
Depreciation 18 14
Changes in operating assets and liabilities:    
Amounts receivable (22) (106)
Prepaid expenses and other assets (156) (424)
Deposits (1,308) 0
Accounts payable (167) 122
Accrued liabilities 413 (380)
Net cash used in operating activities (11,172) (10,119)
Cash flows from investing activities:    
Purchase of marketable securities (18,047) (52,743)
Maturities of marketable securities 27,000 27,135
Purchases of property and equipment (9) (11)
Net cash provided by (used in) investing activities 8,944 (25,619)
Cash flows from financing activities:    
Proceeds from issuance of common shares, net of offering costs 11,747 36,852
Proceed from the exercise of common stock options 7 0
Principal payments on finance lease obligation (3) (3)
Net cash provided by financing activities 11,751 36,849
Net increase in cash and cash equivalents 9,523 1,111
Cash and cash equivalents at beginning of period 4,543 4,728
Cash and cash equivalents at end of period 14,066 5,839
Supplemental disclosure of non-cash transactions:    
Assets acquired under financing lease 30 0
Cash paid for income taxes $ 14 $ 20