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, 2022
Dec. 31, 2021
CASH FLOWS – OPERATING ACTIVITIES    
Net loss $ (28,317) $ (36,226)
Adjustments required to reconcile net loss to cash flows used in operating activities    
Depreciation and amortization 2,520 2,565
Stock-based compensation 1,529 3,237
Amortization of debt issuance costs 463 185
Finance expenses (income), net (842) 25
Changes in other liabilities (27) (486)
Capital loss, net 10 24
Changes in operating assets and liabilities:    
Other current assets 956 33
Trade account payables (1,975) 427
Contract liability 1,976
Other account payables (3,303) 665
Net change in operating leases (106) 2
Net cash used in operating activities (29,092) (27,573)
CASH FLOWS – INVESTING ACTIVITIES    
Investment in short-term deposits (13,500)
Proceeds from short -term deposits 11,500 19,851
Purchase of property and equipment (112) (3,682)
Proceeds from sale of property and equipment 5 4
Net cash provided by (used in) investing activities (2,107) 16,173
CASH FLOWS – FINANCING ACTIVITIES    
Issuance of Common Stock under Open Market Sales Agreement, net of issuance costs 273 5,188
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
Proceeds on account of shares 19
Exercise of stock options 130
Net cash provided by financing activities 292 37,280
Increase (decrease) in cash and cash equivalents and restricted cash (30,907) 25,880
Effect of exchange rate changes on cash and cash equivalents and restricted cash 106 (25)
Cash and cash equivalents and restricted cash at the beginning of the year 63,095 37,240
Cash and cash equivalents and restricted cash at the end of the year 32,294 63,095
Cash and cash equivalents 31,332 62,099
Restricted cash 962 996
Total cash and cash equivalents and restricted cash 32,294 63,095
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 1,554 399
Taxes paid 65 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