Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS – OPERATING ACTIVITIES    
Net loss $ (20,563) $ (12,720)
Adjustments required to reconcile net loss to cash flows used in operating activities    
Depreciation 318 210
Share-based compensation 938 951
Revaluation of contingent liabilities (304) (112)
Changes in operating assets and liabilities:    
Other current assets (1,845) 187
Trade account payables 3,060 (228)
Other account payables 836 358
Operating lease liabilities 83
Related parties (100) 50
Net cash used in operating activities (17,577) (11,304)
CASH FLOWS – INVESTING ACTIVITIES    
Increase (decrease) in short-term deposits 21,052 (29,901)
Purchase of property and equipment (1,312) (137)
Net cash used (provided by) in investing activities 19,740 (30,038)
CASH FLOWS – FINANCING ACTIVITIES    
Issuance of preferred shares, net of issuance costs 1,800 43,042
Cash acquired in connection with the reverse recapitalization transaction, net 59,673
Acquisition of treasury stock (19)
Exercise of stock options 100 [1]
Net cash provided by financing activities 61,554 43,042
Increase in cash and cash equivalents and restricted cash 63,717 1,700
Cash and cash equivalents and restricted cash at the beginning of the year 8,693 6,993
Cash and cash equivalents and restricted cash at the end of the year 72,410 8,693
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:    
Recognition of right-of-use asset and lease liability upon adoption of ASU 2016-02 662
Assets acquired under operating leases 690
Assets acquired (liabilities assumed) in reverse recapitalization transaction:    
Current assets (excluding cash and cash equivalents) (88)
Current liabilities 364
Reverse recapitalization effect on equity 59,397
Cash acquired in connection with reverse recapitalization transaction $ 59,673
[1] Less than $1 thousand.