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
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (12,098) $ (22,132)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 15 16
Amortization of intangible asset   858
Share-based compensation expense 206 503
Interest on short-term investments 1 54
Amortization of debt discount and deferred financing costs 1,138 1,162
Adjustments to fair value of derivatives 793 1,838
Other 980 946
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,223) (2,729)
Accounts payable (4,175) 942
Accrued expenses (5,501) 812
Income taxes (140) 302
Other liabilities (199) (204)
Net cash used in operating activities (19,842) (17,222)
Cash flows from investing activities:    
Purchases of property, plant and equipment (2) (16)
Purchases of short-term investments (12,390) (26,859)
Proceeds from sale of short-term investments 23,800 36,328
Net cash provided by investing activities 11,408 9,453
Cash flows from financing activities:    
Proceeds from issuance of ordinary shares, net of transaction costs 7,384 435
Net cash provided by financing activities 7,384 435
Effect of exchange rates on cash and cash equivalents (45) (24)
Net decrease in cash, cash equivalents and restricted cash (1,095) (7,358)
Cash, cash equivalents and restricted cash, at beginning of period 6,105 21,126
Cash, cash equivalents and restricted cash, at end of period 5,010 13,768
Supplemental Disclosure of Cash Flow Information:    
Income taxes paid - U.S 220 11
Exchangeable Notes    
Adjustments to reconcile net loss to cash used in operating activities:    
Interest on exchangeable notes - non-cash $ 361 $ 410