Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (8,906) $ (11,597)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt recoveries (45) (57)
Non-cash interest expense 418 1,025
Amortization of debt discount 30 270
Amortization of acquired intangible assets 2,034 1,325
Amortization of operating lease right-of-use assets 44 42
Share-based compensation 1,547 33
Deferred taxes provision   (3,414)
Extinguishment of related party income tax payable   72
Change in fair value of derivative liability   182
Research and development-licenses acquired, expense   3,743
Changes in operating assets and liabilities:    
Accounts receivable (5,514) (2,208)
Inventory (150) (12,911)
Prepaid expenses and other current assets 1,403 950
Other assets 40 (143)
Accounts payable 10,523 2,131
Related party expenses (284) 752
Accrued expenses (3,588) 13,866
Accrued interest 77  
Income tax payable 4 (99)
Lease liabilities (49) (39)
Net cash used in operating activities (2,416) (6,077)
Cash flows from investing activities    
Acquired intangible assets (20,000)  
Net cash used in investing activities (20,000)  
Cash flows from financing activities    
Proceeds from the exercise of stock options 111 7
Payment of license installment note payable (2,000) (2,800)
Proceeds from convertible preferred shares   14,332
Payment of debt issuance costs associated with convertible preferred shares (214) (1,532)
Proceeds from EWB term-loan, net of discount 14,763  
Repayment of line of credit (812)  
Offering costs for the issuance of common stock - initial public offering (371)  
Net cash provided by financing activities 11,477 10,007
Net change in cash (10,939) 3,930
Cash at the beginning of the period 49,081 8,246
Cash at the end of the period 38,142 12,176
Supplemental disclosure of cash flow information:    
Cash paid for interest 377  
Cash paid for income taxes   157
Supplemental disclosure of non-cash financing and investing activities:    
Deferred payment for asset acquisition $ 4,740  
Unpaid debt offering cost   200
Unpaid deferred offering cost   75
Derivative warrant liability associated with convertible preferred shares   362
Extinguishment of related party payable relates to deferred tax assets   $ 401