Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (9,813) $ (2,280)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,570 978
Common stock contribution to 401(k) 123 85
Amortization of intangible assets 225  
Depreciation 1 2
Non-cash lease expense 47 42
Change in fair value of equity securities 24 227
Changes in assets and liabilities:    
Trade and other receivables, net (5) 184
Prepaid expenses and other assets 269 204
Accounts payable and accrued liabilities 3,122 45
Income taxes payable   (91)
Operating lease liabilities (50) (48)
Unearned revenue recognized under units-of-revenue method (437) (357)
Net cash used in operating activities (4,924) (1,009)
Cash flows from investing activities:    
Payments of consideration under RPAs and CPPAs (9,600) (5,000)
Receipts under RPAs and CPPAs 2,366  
Net cash used in investing activities (7,234) (5,000)
Cash flows from financing activities:    
Payment of preferred stock dividends (1,368) (1,368)
Proceeds from exercise of options and other share-based compensation   1,606
Taxes paid related to net share settlement of equity awards   (973)
Net cash (used in) financing activities (1,368) (735)
Net decrease in cash, cash equivalents and restricted cash (13,526) (6,744)
Cash, cash equivalents and restricted cash at the beginning of the period 57,826 95,377
Cash, cash equivalents and restricted cash at the end of the period 44,300 88,633
Supplemental Cash Flow Information:    
Cash paid for taxes   95
Right-of-use assets obtained in exchange for operating lease liabilities 85  
Non-cash investing and financing activities:    
Preferred stock dividend accrual 1,368 $ 1,368
Estimated fair value of contingent consideration under the Apetevo CPPA $ 50