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
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (18,192) $ (26,009)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 23 23
Amortization of intangible asset   1,287
Share-based compensation expense 274 645
Interest on short-term investments 1 55
Lease termination adjustments   473
Amortization of debt discount and deferred financing costs 1,713 1,753
Financing transaction costs included in financing activities 1,977  
Adjustments to fair value of derivatives 1,226 (11,361)
Other 1,233 974
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,575) (2,560)
Accounts payable (4,161) 2,741
Accrued expenses (4,270) 4,778
Income taxes (4) 355
Other liabilities (301) (256)
Net cash used in operating activities (22,514) (26,487)
Cash flows from investing activities:    
Purchases of property, plant and equipment (2) (13)
Purchases of short-term investments (12,390) (36,002)
Proceeds from sale of short-term investments 29,500 45,828
Net cash provided by investing activities 17,108 9,813
Cash flows from financing activities:    
Proceeds from issuance of ordinary shares, net of transaction costs 12,814 445
Net cash provided by financing activities 12,814 445
Effect of exchange rates on cash and cash equivalents (73) (47)
Net increase / (decrease) in cash, cash equivalents and restricted cash 7,335 (16,276)
Cash, cash equivalents and restricted cash, at beginning of period 6,105 21,126
Cash, cash equivalents and restricted cash, at end of period 13,440 4,850
Supplemental Disclosure of Cash Flow Information:    
Income taxes paid - U.S 220 120
Exchangeable Notes    
Adjustments to reconcile net loss to cash used in operating activities:    
Interest on exchangeable notes - non-cash $ 542 $ 615