Financials

v3.23.3
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 8,096 $ 2,937
Restricted cash 13 196
Receivables 26 36
Notes receivable 1,500
Inventory 106
Prepaid expenses and other current assets 244 314
Discontinued operations - current assets 20 14
Total current assets 9,899 3,603
Property and equipment, net 6 224
Other assets 48
Operating lease right-of-use assets, net 94 183
Total assets 9,999 4,058
Current liabilities:    
Accounts payable 407 695
Note payable to related party 500
Other accrued liabilities 790 1,488
Operating lease liability, current 97 122
Deferred grant revenue 12 196
Discontinued operations – current liabilities 60 129
Total current liabilities 1,866 2,630
Operating lease liability, noncurrent 65
Total liabilities 1,866 2,695
Stockholders’ equity:    
Preferred stock, at amounts paid-in, $0.001 par value per share; 5,000,000 shares authorized, 950,000 shares issued and outstanding at September 30, 2023 and no shares issued and outstanding at December 31, 2022. 1
Common stock, at amounts paid-in, $0.001 par value per share; 225,000,000 shares authorized, 15,016,295 shares issued and outstanding at September 30, 2023 and December 31, 2022. 15 15
Additional paid-in capital 397,977 387,609
Accumulated deficit (389,860) (386,261)
Total stockholders’ equity 8,133 1,363
Total liabilities and stockholders’ equity $ 9,999 $ 4,058

Source

v3.23.3
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenues $ 4 $ 95 $ 184 $ 436
Operating expenses:        
Research and development 424 932 1,426 3,315
General and administrative 1,641 1,806 4,104 4,745
Total operating expenses 2,065 2,738 5,530 8,060
Loss from operations (2,061) (2,643) (5,346) (7,624)
Other income (expense):        
Interest income (expense) (11) 21 18 26
Gain on asset sale 1,732 1,732
Other income (expense), net 2 (16) (3) (42)
Other income (expense), net 1,723 5 1,747 (16)
Net loss $ (338) $ (2,638) $ (3,599) $ (7,640)
Basic net loss per common share $ (0.02) $ (0.18) $ (0.24) $ (0.59)
Diluted net loss per common share $ (0.02) $ (0.18) $ (0.24) $ (0.59)
Weighted average shares used in computing basic net loss per common share 15,016 14,629 15,016 13,031
Weighted average shares used in computing diluted net loss per common share 15,016 14,629 15,016 13,031
License and Service [Member]        
Revenues:        
Total revenues $ 4 $ 1 $ 9
Grant [Member]        
Revenues:        
Total revenues $ 4 $ 91 $ 183 $ 427

Source

v3.23.3
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (3,599) $ (7,640)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on sale of assets (1,732)
Depreciation and amortization 109 151
Stock-based milestone payment 50
Stock-based compensation 965 1,038
Other (1) 2
Changes in operating assets and liabilities:    
Receivables 63
Inventory (167)
Prepaid expenses and other assets 122 (34)
Accounts payable (374) (182)
Deferred grant revenue (184) (34)
Other accrued liabilities (152) 149
Net cash used in operating activities (4,846) (6,604)
Cash flows from investing activities:    
Proceeds from sale of assets 228
Net cash provided by investing activities 228
Cash flows from financing activities:    
Net proceeds from equity offering 4,980
Net proceeds from issuance of preferred stock 9,094
Proceeds from short-term loans 750
Net proceeds from the exercises of common stock warrants 4
Payments on short-term loans (250)
Net cash provided by financing activities 9,594 4,984
Net increase (decrease) in cash, cash equivalents and restricted cash 4,976 (1,620)
Cash, cash equivalents and restricted cash at beginning of period 3,133 6,332
Cash, cash equivalents and restricted cash at end of period 8,109 4,712
Supplemental cash flow information:    
Interest paid 4
Inventory transferred with sale of assets 106
Property and equipment, net, transferred with sale of assets 109
Notes receivable received in connection with sale of assets 1,500
Accounts payable related to sale of assets 17
Other accrued liabilities transferred with sale of assets 236
Cash and cash equivalents 8,096 4,450
Restricted cash 13 262
Cash, cash equivalents and restricted cash shown in the condensed statements of cash flows $ 8,109 $ 4,712

Source