v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) - basic $ (20,430) $ (25,606)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 2 1
Stock-based compensation 2,321 4,655
Gain on extinguishment of debt   (121)
Change in fair value of warrant liabilities (273) (17,359)
Change in fair value of earnout cash liability (4,582) 355
Non-cash interest expense   10
Non-cash settlement expense   21,366
Non-cash consulting expense   4,850
Changes in operating assets and liabilities:    
Accounts receivable   831
Prepaid expenses and other assets (2,757) (4,849)
Accounts payable (609) 2,563
Accrued expenses and other liabilities 1,157 (1,105)
Net cash used in operating activities (25,171) (14,409)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of computer equipment (6) (3)
Net cash used in investing activities (6) (3)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock, net of transaction costs   8,489
Proceeds from issuance of common stock for exercise of warrant   7,500
Effect of Merger, net of transaction costs   11,050
Repayment of note payable (518)  
Proceeds from issuance of common stock and warrants issued in private placement, net of issuance costs 22,638  
Repayment of notes payable assumed in Merger   (1,100)
Net cash provided by financing activities 22,120 25,939
Net increase in cash and cash equivalents (3,057) 11,527
Cash and cash equivalents at beginning of period 27,605 1,859
Cash and cash equivalents at end of period 24,548 13,386
Non-cash investing and financing activities    
Reclassification of settlement liability upon issuance of warrant   60,852
Reclassification of legacy NeuroRx warrants to warrant liability   38,220
Issuance of common stock warrants as offering costs 726  
Extinguishment of Paycheck Protection Program Loan   $ 121
Issuance of common stock for settlement of accrued liability $ 17  

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