Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (8,559) $ (12,763)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 42 21
Amortization of right to use assets 111 113
Equity based compensation 2,519 4,413
Fair value of subsidiary stock issued to acquire research and development from Trek Therapeutics, PBC 0 3,174
Changes in operating assets and liabilities:    
Inventory 118 (222)
Vendor deposits 18 (100)
Prepaid expenses 78 (10)
Payment of long term deposit 61 0
Accounts payable (1,263) (456)
Operating lease liabilities (116) (112)
Net cash used in operating activities (6,991) (5,942)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (130) (20)
Net cash used in investing activity (130) (20)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 0 9,052
Proceeds from sale of common stock under a At-the-market offering, net of issuance costs 1,300 0
Proceeds from exercise of options 28 0
Proceeds from exercise of warrants 0 302
Net cash provided by financing activities 1,328 9,354
Net increase in cash and cash equivalents (5,793) 3,392
Cash and cash equivalents, beginning of the period 28,268 12,108
Cash and cash equivalents, end of the period 22,475 15,500
Cash paid during the period for interest 0 0
Cash paid during the period for income taxes 0 0
Noncash investing and financing activities:    
Dividend payable on preferred stock charged to additional paid in capital 2 5
Record right-to-use assets and related lease liability 218 0
Series C Preferred Stock [Member]    
Noncash investing and financing activities:    
Common stock issued upon conversion preferred stock and accrued dividends $ 0 $ 16