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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (36,302) $ (23,858)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 215 152
Shares issued as compensation for consulting services   38
Stock-based compensation 6,706 2,512
Loss on fair value adjustment of warrant liability 294 1,124
Gain on fair value of strategic investments (276) (1,196)
Accretion and interest related to marketable securities (3,181)  
Loss on debt extinguishment   682
Non-cash lease expense 473 419
Amortization of deferred financing fees 109 127
Changes in operating assets and liabilities:    
Accounts receivable 10 25
Inventory 139 (262)
Prepaid expenses and other assets (458) (475)
Accounts payable, accrued expenses and other liabilities (348) 2,294
Operating lease liabilities - current and non-current (516) (196)
Deferred revenue (2,018) (1,931)
Net cash used in operating activities (35,153) (20,545)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (81) (537)
Sales of marketable securities 115,690  
Purchases of marketable securities (138,073) (208)
Net cash used in investing activities (22,464) (745)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of debt financing, inclusive of debt extinguishment costs   (6,446)
Proceeds from Avenue term loan   10,000
Proceeds from exercise of warrants 23 79
Proceeds from exercise of stock options 78 121
Effect of merger, net of transaction costs (Note 3) 56,810  
Proceeds from private placement financing   109,830
Deferred financing, offering and merger costs   (5,237)
Net cash provided by financing activities 56,911 108,347
Net (decrease) increase in cash and cash equivalents (706) 87,057
Cash and cash equivalents, beginning of the period 19,784 9,938
Cash and cash equivalents, end of the period 19,078 96,995
Cash paid during the nine months ended September 30:    
Interest $ 1,098 1,040
Non-cash financing activities:    
Deferred offering and merger costs in accounts payable and accrued expenses   5,682
Warrants issued pursuant to private placement financing   620
Warrants issued pursuant to debt financing   $ 178