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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (3,962) $ (8,333)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of investment 467 5,071
Research and development-acquired license, expensed 1,034 1,011
Stock-based compensation 112  
Realized (gain) loss on marketable securities (424) 44
Unrealized loss on marketable securities 2,049 835
Changes in assets and liabilities:    
Prepaid expenses and other assets 16 16
Accounts payable and accrued expenses (323) 102
Accrued salaries and benefits 5 (244)
Interest receivable on convertible note (27)  
Payable to DatChat   50
Net cash used in operating activities (1,053) (1,448)
Cash flows from investing activities    
Purchase of marketable securities (83,586) (20,378)
Sale of marketable securities 14,335 4,215
Purchase of research and development licenses (503) (1,011)
Purchase of convertible note (2,000)  
Net cash used in investing activities (71,754) (17,174)
Cash flows from financing activities    
Proceeds from issuance common stock and warrants, net of offering cost 77,989 6,549
Proceeds from issuance common stock, net of offering cost   5,095
Proceeds from exercise of warrants 84 7,139
Net cash provided by financing activities 78,073 18,783
Net increase in cash and cash equivalents 5,266 161
Cash and cash equivalents, beginning of period 2,715 91
Cash and cash equivalents, end of period $ 7,981 252
Non-cash investing and financing activities    
Offering cost included in accrued expenses   $ 7