Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (16,544,000) $ (14,220,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 1,496,000 1,227,000
Amortization of discount on marketable securities (1,013,000) (856,000)
Non-cash lease expense 56,000 52,000
Depreciation 28,000 22,000
Changes in operating assets and liabilities:    
Amounts receivable 79,000 (228,000)
Prepaid expenses and other assets 131,000 (860,000)
Deposits (1,308,000) 0
Accounts payable 245,000 129,000
Accrued liabilities 1,188,000 (182,000)
Net cash used in operating activities (15,642,000) (14,916,000)
Cash flows from investing activities:    
Purchase of marketable securities (39,623,000) (64,537,000)
Maturities of marketable securities 43,000,000 40,135,000
Purchases of property and equipment (18,000) (21,000)
Net cash provided by (used in) investing activities 3,359,000 (24,423,000)
Cash flows from financing activities:    
Proceeds from issuance of common shares, net of offering costs 11,747,000 36,848,000
Proceed from the exercise of stock options 133,000 0
Principal payments on finance lease obligation (6,000) (5,000)
Net cash provided by financing activities 11,874,000 36,843,000
Net decrease in cash and cash equivalents (409,000) (2,496,000)
Cash and cash equivalents at beginning of period 4,543,000 4,728,000
Cash and cash equivalents at end of period 4,134,000 2,232,000
Supplemental disclosure of non-cash transactions:    
Assets acquired under financing lease 30,000 0
Cash paid for income taxes $ 20,000 $ 26,000