Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (6,866,000) $ (6,896,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 673,000 957,000
Amortization of premium on marketable securities 160,000 38,000
Non-cash lease expense 31,000 28,000
Depreciation 12,000 12,000
Changes in operating assets and liabilities:    
Amounts receivable 42,000 324,000
Deposits 5,000 6,000
Prepaid expenses and other assets (450,000) (250,000)
Accounts payable 115,000 (860,000)
Accrued liabilities (106,000) 239,000
Net cash used in operating activities (6,384,000) (6,402,000)
Cash flows from investing activities:    
Purchase of marketable securities (27,510,000) (25,244,000)
Maturities of marketable securities 32,258,000 26,235,000
Purchases of property and equipment (6,000) (13,000)
Proceeds from disposition of property and equipment 0 2,000
Net cash provided by investing activities 4,742,000 980,000
Cash flows from financing activities:    
Proceeds from the exercise of stock options 0 244,000
Principal payments on finance lease obligations (3,000) (3,000)
Net cash provided by (used in) financing activities (3,000) 241,000
Net decrease in cash and cash equivalents (1,645,000) (5,181,000)
Cash and cash equivalents at beginning of period 4,707,000 7,409,000
Cash and cash equivalents at end of period 3,062,000 2,228,000
Supplemental disclosure of non-cash transactions:    
Assets acquired under financing lease $ 10,000 $ 0