Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (44,206) $ (21,452)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 13 12
Common stock issued to acquire in-process research and development 3,000 1,360
Stock-based compensation 3,301 1,093
Changes in operating assets and liabilities:    
Prepaid expenses and other (651) 74
Accounts payable (1,191) 118
Lease liabilities and ROU asset, net (17) (2)
Accrued expenses and other current liabilities (415) (570)
  Net cash used in operating activities (40,166) (19,367)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,934) (14)
  Net cash used in investing activities (1,934) (14)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 2 7,474
Proceeds from ESPP 28 2
Proceeds, net of $0 and $711 expenses, from sale of preferred stock 4,602
Proceeds, net of $8,940 and $2,644 expenses, from sale of common stock and warrants 130,729 51,099
  Net cash provided by financing activities 130,759 63,177
Effect of currency rate change on cash (8) (23)
Net increase in cash, cash equivalents and restricted cash 88,651 43,773
Cash, cash equivalents and restricted cash beginning of the period 77,308 11,349
Cash, cash equivalents and restricted cash end of period 165,959 55,122
Non-cash financing and investing activities:    
 Warrants deemed dividend 451
 Series B Convertible preferred stock deemed dividend $ 1,260