Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (9,889) $ (3,500)  
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation 7 29 $ 84
Amortization of intangible asset 429 429  
Share-based compensation expense 393 1,895  
Interest on short-term investments (77) (100)  
Amortization of debt discount and deferred financing costs 578 572  
Adjustments to fair value of derivatives 878 (5,177)  
Other 606 1,193  
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (1,445) 181  
Accounts payable (539) (195)  
Accrued expenses (748) 810  
Income taxes 114 427  
Other liabilities (102) (174)  
Net cash used in operating activities (9,590) (3,405)  
Cash flows from investing activities:      
Purchases of short-term investments (3,892) (11,307)  
Proceeds from sale of short-term investments 8,998 20,900  
Net cash provided by investing activities 5,106 9,593  
Cash flows from financing activities:      
Repayments of long-term debt   (2,251)  
Proceeds from issuance of ordinary shares, net of transaction costs 235    
Net cash provided by / (used in) financing activities 235 (2,251)  
Effect of exchange rates on cash and cash equivalents (12) (22)  
Net (decrease) / increase in cash, cash equivalents and restricted cash (4,261) 3,915  
Cash, cash equivalents and restricted cash, at beginning of period 21,126 27,510 27,510
Cash, cash equivalents and restricted cash, at end of period 16,865 31,425 $ 21,126
Supplemental Disclosure of Cash Flow Information:      
Income tax paid - US 11    
Interest paid   22  
Exchangeable Notes      
Adjustments to reconcile net loss to cash used in operating activities:      
Interest on exchangeable notes - non-cash $ 205 $ 205