Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS – OPERATING ACTIVITIES    
Net loss $ (36,226) $ (30,086)
Adjustments required to reconcile net loss to cash flows used in operating activities    
Depreciation and amortization 2,565 2,180
Stock-based compensation 3,237 2,890
Amortization of debt issuance costs 185
Finance expense, net 25
Changes in other liabilities (486) 116
Loss from sale of property and equipment 24
Changes in operating assets and liabilities:    
Other current assets 33 (1,503)
Trade account payables 427 (858)
Contract liability 1,976
Other account payables 665 1,382
Net change in operating leases 2 1,382
Related parties 50
Net cash used in operating activities (27,573) (24,447)
CASH FLOWS – INVESTING ACTIVITIES    
Investment in short-term deposits (49,780)
Proceeds from short -term deposits 19,851 39,932
Purchase of property and equipment (3,682) (1,009)
Proceeds from sale of property and equipment 4
Net cash provided by (used in) investing activities 16,173 (10,857)
CASH FLOWS – FINANCING ACTIVITIES    
Issuance of Common Stock under Open Market Sales Agreement, net of issuance costs 5,188 (98)
Issuance of Common Stock under registered direct offering, net of issuance costs 17,737
Proceeds from long-term debt, net of issuance costs 14,225
Outflows in connection with current assets and liabilities acquired in Recapitalization Transaction (75)
Exercise of stock options 130 307
Net cash provided by financing activities 37,280 134
Increase (decrease) in cash and cash equivalents and restricted cash 25,880 (35,170)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (25)
Cash and cash equivalents and restricted cash at the beginning of the year 37,240 72,410
Cash and cash equivalents and restricted cash at the end of the year 63,095 37,240
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 399
Taxes paid 67
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING ACTIVITIES:    
Property and equipment purchases included in accounts payable and other payables 858
Right-of-use assets obtained in exchange for new operation lease liabilities $ 95 $ 4,547