Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 22,563 $ 20,819
Accounts receivable 109 35
Inventory 496 805
Prepaid expenses and other current assets 793 448
Total current assets 23,961 22,107
Fixed assets, net 1,428 1,178
Right-of-use assets 687 766
Other non-current assets 13 13
Total assets 26,089 24,064
Current liabilities:    
Accounts payable and accrued expenses 2,584 2,333
Operating lease liabilities - current 307 238
Other current liabilities 10 60
Term debt, net of debt discount of $0 and $21, respectively 7,979
Total current liabilities 2,901 10,610
Contingent royalty obligation 1,760 1,617
Operating lease liabilities - non-current 385 547
Convertible note, net of unamortized debt discount of $166 and $0, respectively 3,834
Long-term debt, net of unamortized debt discount of $588 and $0, respectively 7,552
Total liabilities 16,432 12,774
Commitments and contingent liabilities (Note 9)
Shareholders’ equity    
Preferred stock $0.0001 par value; 10,000,000 shares authorized; zero shares issued and outstanding
Common stock $0.0001 par value; 115,000,000 shares authorized; 48,320,986 and 32,272,309 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively 5 3
Additional paid-in capital 132,406 115,008
Accumulated deficit (122,754) (103,721)
Total shareholders’ equity 9,657 11,290
Total liabilities and shareholders’ equity $ 26,089 $ 24,064