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
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (20,653) $ (7,273)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6 6
Stock-based compensation 1,212 360
Changes in operating assets and liabilities:    
Prepaid expenses and other 1,971 (39)
Accounts payable (1,739) (1,662)
Lease liabilities and ROU asset, net (12) (2)
Accrued expenses and other current liabilities (1,843) (716)
Net cash used in operating activities (21,058) (9,326)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (505)  
Net cash used by investing activities (505)  
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the exercise of warrants 2 7,474
Proceeds from ESPP 28 2
Proceeds, net of expenses of $0 and $711, from the sale of preferred stock   4,602
Proceeds, net of expenses of $8,328 and $1,513, from sale of common stock and warrants 108,680 16,679
Net cash provided by financing activities 108,710 28,757
Effect of currency rate change on cash (1) (15)
Net increase in cash, cash equivalents and restricted cash 87,146 19,416
Cash, cash equivalents and restricted cash beginning of the period 77,308 11,349
Cash, cash equivalents and restricted cash end of period $ 164,454 30,765
Non-cash financing activities:    
Series B Convertible preferred stock deemed dividend   1,260
Warrants deemed dividend   $ 451