Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (12,867) $ (18,597)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 451 510
Amortization of debt issuance costs 252 330
Gain on change in estimated fair value of contingent royalty obligation (103) (548)
Share-based compensation 471 1,809
Issuance of common stock for board of directors’ compensation 235
Loss on extinguishment of debt 284
Impairment of inventory 488 598
Impairment of fixed assets 46
Amortization on operating lease right of use asset 226 327
Loss on lease termination 11
Changes in operating assets and liabilities:    
Accounts receivable (17) 50
Inventory 2 (1,302)
Prepaid expenses and other current assets 283 12
Accounts payable and accrued expenses (454) (650)
Operating lease liability (241) (330)
Other current liabilities 20 43
Net cash used in operating activities (11,194) (17,467)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (104) (224)
Net cash used in investing activities (104) (224)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common shares pursuant to at-the-market registered offering 121 10,252
Proceeds from private placement offering 3,537
Proceeds from issuance of common shares upon public offering 5,000
Fractional shares paid in cash pursuant to reverse stock split (12) (11)
Repayment of long-term debt (4,965) (703)
Payment of debt issuance costs (200)
Equity financing fees (1,267) (368)
Net cash provided by financing activities 2,214 9,170
NET DECREASE IN CASH AND CASH EQUIVALENTS (9,084) (8,521)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 14,042 22,563
CASH AND CASH EQUIVALENTS AT END OF PERIOD 4,958 14,042
CASH PAID FOR:    
Interest 836 977
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Reclassification of inventory to fixed assets 14 201
Reclassification of prepaid expenses to fixed assets 4
Purchase of fixed assets in accounts payable and accrued expenses 24
Non-cash issuance cost from private placement offering 264
Non-cash issuance cost from public offering 154
Financing fees incurred but unpaid at period end 228
Debt issuance costs incurred but unpaid at period end 100
Extinguishment of contingent royalty obligation 1,109
Operating lease liabilities arising from obtaining right-of-use assets 68 66
Settlement of convertible note to equity $ 4,000