Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 2,095 $ (49,546)
(Income) loss on discontinued operation (18,673) 32,920
Adjustments to reconcile net income (loss) from continuing operations to net cash used in operating activities from continuing operations:    
Stock-based compensation 642 1,062
Non-cash interest expense 297 652
Depreciation expense 135 38
Non-cash loss on retirement of fixed assets 5 (86)
Loss on extinguishment of debt 2,196 0
Change in fair value of warrants and derivatives (717) (7)
Right-of-use asset 111 0
Change in contingent consideration valuation (35) 0
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (404) 923
Accounts payable, accrued expenses and other liabilities 4,750 947
Operating lease liability (82) 0
Net cash used in operating activities, continuing operations (9,680) (13,097)
Cash flows from investing activities:    
Cash acquired in acquisition of TeraImmune 142 0
Purchase of property and equipment (21) 0
Net Cash provided by investing activities, continuing operations 121 0
Cash flows from financing activities:    
Payment of deferred financing costs (291) 0
Proceeds from sale or issuance of shares 3,494 14,270
Proceeds from registered direct offerings, net of transaction costs 1,712 1,762
Payments on long-term debt (4,050) (1,112)
Proceeds from warrant exercises 4,328 69
Proceeds from equity line of credit, net of transaction costs 313 0
Payments of withholdings on shares withheld for income taxes 0 (3)
Net cash provided by financing activities, continuing operations 5,506 14,986
Net (decrease) increase in cash and cash equivalents from continuing operations (4,053) 1,889
Discontinued operation:    
Cash flows used in operating activities (843) (10,913)
Cash flows used in investing activities 0 (20)
Cash flows used in financing activities 0 (1,200)
Net decrease in cash and cash equivalents from discontinued operations (843) (12,133)
Cash and cash equivalents, beginning of period 5,259 15,891
Cash and cash equivalents, end of period 363 5,647
Supplemental disclosure of cash flow information:    
Deferred Financing Costs Included In Accounts Payable 168 0
Acquisition of TeraImmune through issuance of Series X convertible preferred stock and common stock, net of cash acquired 9,584 0
Offering costs included in accounts payable and accrued expenses $ 1,053 $ 213