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 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net loss     $ (22,132) $ (10,235)  
Adjustments to reconcile net loss to cash used in operating activities:          
Depreciation     16 55 $ 84
Amortization of intangible asset     858 858  
Share-based compensation expense     503 3,879  
Interest on short-term investments     54 (123)  
Amortization of debt discount and deferred financing costs     1,162 1,157  
Adjustments to fair value of derivatives $ 960 $ (2,155) 1,838 (7,332)  
Other     946 1,894  
Changes in operating assets and liabilities:          
Prepaid expenses and other current assets     (2,729) (1,366)  
Accounts payable     942 (92)  
Accrued expenses     812 1,797  
Income taxes     302 (128)  
Other liabilities     (204) (443)  
Net cash used in operating activities     (17,222) (9,669)  
Cash flows from investing activities:          
Purchases of property, plant and equipment     (16) (10)  
Purchases of short-term investments     (26,859) (34,858)  
Proceeds from sale of short-term investments     36,328 28,600  
Net cash provided by (used in) investing activities     9,453 6,268  
Cash flows from financing activities:          
Repayments of long-term debt       (2,251)  
Proceeds from issuance of ordinary shares, net of transaction costs     435    
Net cash provided by / (used in) financing activities     435 (2,251)  
Effect of exchange rates on cash and cash equivalents     (24) (49)  
Net (decrease) / increase in cash, cash equivalents and restricted cash     (7,358) (18,237)  
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 $ 13,768 $ 9,273 13,768 9,273 $ 21,126
Supplemental Disclosure of Cash Flow Information:          
Income tax paid - US     11 898  
Interest paid       22  
Exchangeable Notes          
Adjustments to reconcile net loss to cash used in operating activities:          
Interest on exchangeable notes - non-cash     $ 410 $ 410