Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.24.1.1.u2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (7,101) $ (9,889)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 7 7
Amortization of intangible asset   429
Share-based compensation expense 138 393
Interest on short-term investments (1) (77)
Amortization of debt discount and deferred financing costs 569 578
Adjustments to fair value of derivatives 386 878
Other 496 606
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 226 (1,445)
Accounts payable (2,031) (539)
Accrued expenses (5,902) (748)
Income taxes 49 114
Other liabilities (100) (102)
Net cash used in operating activities (13,083) (9,590)
Cash flows from investing activities:    
Purchases of short-term investments (6,489) (3,892)
Proceeds from sale of short-term investments 13,700 8,998
Net cash provided by investing activities 7,211 5,106
Cash flows from financing activities:    
Proceeds from issuance of ordinary shares, net of transaction costs 7,217 235
Net cash provided by financing activities 7,217 235
Effect of exchange rates on cash and cash equivalents (27) (12)
Net increase / (decrease) in cash, cash equivalents and restricted cash 1,318 (4,261)
Cash, cash equivalents and restricted cash, at beginning of period 6,105 21,126
Cash, cash equivalents and restricted cash, at end of period 7,423 16,865
Supplemental Disclosure of Cash Flow Information:    
Income taxes paid - U.S   11
Exchangeable Notes    
Adjustments to reconcile net loss to cash used in operating activities:    
Interest on exchangeable notes - non-cash $ 181 $ 205