Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (16,610,000) $ (35,110,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 91,000 43,000
Amortization of right to use assets 230,000 227,000
Equity based compensation 4,311,000 15,745,000
Change in fair value of modified options 321,000 0
Fair value of subsidiary stock issued to acquire research and development from Trek Therapeutics, PBC 0 3,175,000
Fair value of subsidiary stock issued to acquire research an development   1,300,000
Changes in operating assets and liabilities:    
Accounts receivable (199,000) 0
Inventory 37,000 (222,000)
Prepaid expenses (209,000) (770,000)
Payment of long term deposit 53,000 0
Accounts payable (1,693,000) 1,615,000
Operating lease liabilities (242,000) (226,000)
Net cash used in operating activities (13,910,000) (14,223,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (182,000) (28,000)
Net cash used in investing activity (182,000) (28,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 0 25,214,000
Proceeds from sale subsidiary stock to non-controlling interest, net of issuance costs 0 10,592,000
Proceeds from sale of common stock under a At-the-market offering, net of issuance costs 1,300,000 0
Proceeds from exercise of options 28,000 2,229,000
Proceeds from exercise of warrants 0 1,035,000
Net cash provided by financing activities 1,328,000 39,070,000
Net increase in cash and cash equivalents (12,764,000) 24,819,000
Cash and cash equivalents, beginning of the period 28,268,000 12,108,000
Cash and cash equivalents, end of the period 15,504,000 36,927,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 0 0
Cash paid during the period for income taxes 0 0
Non cash investing and financing activities:    
Dividend payable on preferred stock charged to additional paid in capital 5,000 9,000
Record right-to-use assets and related lease liability 218,000 0
Series C Preferred Stock [Member]    
Non cash investing and financing activities:    
Common stock issued upon conversion preferred stock and accrued dividends $ 0 $ 180,000