Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (20,154) $ (9,222)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 890 856
Gain on loan extinguishment (437) 0
Depreciation 8 6
Reduction of discount on marketable securities 0 25
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,092) 512
Accounts payable 1,932 (1,679)
Accrued liabilities (1,352) (135)
Deferred revenue 0 (1,653)
Net cash used in operating activities (20,205) (11,290)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures, net (36) 0
Maturities of marketable securities 0 4,500
Net cash provided by (used in) investing activities (36) 4,500
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the exercise of warrants 8,969 22
Proceeds from the issuance of common stock and warrants, net of issuance costs 5,565 20,669
Proceeds from the issuance of note payable 0 437
Net cash provided by financing activities 14,534 21,128
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (5,707) 14,338
CASH AND CASH EQUIVALENTS—BEGINNING 30,115 7,232
CASH AND CASH EQUIVALENTS—ENDING 24,408 21,570
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Forgiveness of Paycheck Protection Program loan $ 437 $ 0