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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES    
Net loss $ (7,119) $ (4,578)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 2,854 756
Depreciation 29 40
Amortization of right-of-use assets 44 81
Change in fair value of warrant liability (2)
Changes in operating assets and liabilities:    
Accounts receivable (3)
Inventory (56)
Prepaid research and development 64
Prepaid expenses and other current assets (41) 83
Deferred financing costs 66 (311)
Long-term prepaid contracts (1,214)
Accounts payable (258) 206
Operating lease liabilities (44) (81)
Accrued and other current liabilities (43) 433
Net cash used in operating activities (5,721) (3,373)
INVESTING ACTIVITIES    
Purchases of short-term investments (2,523)
Redemption of short-term investments 1,291
Purchases of property, plant, and equipment (11) (8)
Net cash used in investing activities (1,243) (8)
FINANCING ACTIVITIES    
Proceeds from issuance of common stock 5,992 5,060
Net cash provided by financing activities 5,992 5,060
Net (decrease) increase in cash and cash equivalents (972) 1,679
Cash and cash equivalents at the beginning of the year 1,241 1,292
Cash and cash equivalents at the end of the period 269 2,971
Supplemental disclosure of non-cash activities:    
Settlement of contingency matter (3,250)
Settlement of due to Harvard Bioscience included in accrued and other current liabilities (750)
Issuance of Series E convertible preferred stock 4,000
Purchases of property and equipment in accounts payable or accrued expenses 3
Preferred stock dividends 77 95
Conversion of preferred stock into common stock $ 4,257