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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (26,960) $ (20,606)
Adjustments to reconcile net loss to net cash used in operating activities    
Compensation cost for stock options granted 6,788 5,267
Depreciation and amortization 8 23
Disposal of assets 3 0
Changes in operating assets and liabilities:    
Prepaid expenses (1,543) (674)
Research and development tax rebate receivable 329 (437)
Other current assets (1,230) (521)
Other assets (597) 0
Accounts payable 1,248 128
Accrued expenses 855 111
Payroll liabilities 341 220
Other current liabilities (2) 17
Net cash used in operating activities (20,760) (16,472)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investment in equity securities (4,700) 0
Purchase of furniture and equipment (27) (9)
Net cash used in investing activities (4,727) (9)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock and warrants, net of issuance costs 0 69,668
Proceeds from exercise of warrants 0 43,818
Proceeds from exercise of employee stock options 0 391
Payment of taxes related to net-exercise of employee stock options 0 (573)
Net cash provided by financing activities 0 113,304
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (25,487) 96,823
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE 136,487 39,664
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 111,000 136,487
SUPPLEMENTAL DISCLOSURES    
Cash and cash equivalents 110,890 136,377
Restricted cash 110 110
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows 111,000 136,487
NONCASH INVESTING AND FINANCING ACTIVITIES    
Reclassification of the warrant liability to equity upon adoption of accounting standard 0 13,003
Common stock issued upon cashless exercise of stock options 0 1,333
Conversion of Series B Convertible Preferred Stock into Common Stock [Member]    
NONCASH INVESTING AND FINANCING ACTIVITIES    
Conversion of Series B convertible preferred stock to common stock $ 0 $ 39