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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Net loss $ (26,616) $ (10,322)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 2 3
In-process research and development 30,117 0
Noncash transaction costs shared with Seneca (135) 0
Noncash lease expense 166 143
Gain on forgiveness of PPP loan (279) 0
Accretion of debt discount and non-cash interest expense 2,339 202
Loss on issuance of LBS Series 1 Preferred Stock 1,881 0
Loss on issuance of secured debt 686 841
Loss on issuance of warrants 3,247 0
Change in fair value of warrant liabilities (23,033) (38)
Change in fair value of share liability (91) 0
Stock-based compensation 1,891 2,014
Other (192) 0
Changes in operating assets and liabilities:    
Trade and other receivables 84 (59)
Prepaid and other assets (1,157) 89
Accounts payable and accrued liabilities (2,395) 1,006
Accrued compensation (1,120) 1,494
Operating lease liabilities (168) (141)
Net cash used in operating activities (14,773) (4,768)
Cash flows from investing activities:    
Cash acquired in connection with the Merger 3,279 0
Acquisition related costs paid (3,333) 0
Purchases of property and equipment 0 (6)
Net cash provided by (used in) investing activities (54) (6)
Cash flows from financing activities:    
Payments on debt (1,433) (27)
Proceeds from issuance of debt 1,250 379
Proceeds from the issuance of related party debt 0 450
Proceeds from issuance of LBS Series 1 Preferred Stock 19,900 0
Proceeds from issuance of common stock and warrants 5,209 1,175
Redemption of warrants (99) 0
Payment of equity issuance costs (67) 0
Payment of debt issuance costs (151) (87)
Net cash provided by financing activities 24,609 1,890
Net increase (decrease) in cash, cash equivalents and restricted cash 9,782 (2,884)
Cash, cash equivalents and restricted cash, beginning of period 739 3,623
Cash, cash equivalents and restricted cash, end of period 10,521 739
Reconciliation of cash, cash equivalents and restricted cash to the balance sheets:    
Cash and cash equivalents 10,495 713
Restricted cash 26 26
Total cash, cash equivalents and restricted cash 10,521 739
Supplemental disclosure of cash flows:    
Interest paid 64 55
Supplemental disclosures of non-cash investing and financing activities:    
Equity issuance costs included in accounts payable 0 41
Transaction costs shared with Seneca 135 0
Acquisition costs related to stock issuance 1,184 0
Issuance of common stock to former Seneca stockholders 28,728 0
Conversion of LBS Series C Preferred stock into common stock 9,503 0
Net assets acquired in the Merger 2 0
Acquisition related vesting of RSU’s assumed in the Merger 41 0
Acquisition related fair value change in warrant liability assumed in the Merger 51 0
Debt discount for issuance of warrants 0 29
Issuance of common stock for the cashless exercise of warrants 1,689 0
Deferred transaction costs in accounts payable and accrued liabilities 0 1,817
Issuance of common stock for settlement of trade payable 0 9
Debt issuance costs included in accounts payable $ 0 $ 61