Alpha Compute Corp 20-F for FY2024

Alpha Compute Corp (ALP)

20-F 2024-08-14 For: 2024-03-31

Added on April 07, 2026

About this 20-F

Alpha Compute Corp filed this 20-F on August 14, 2024, covering the fiscal year ended March 31, 2024 (FY2024).

Headline figures

Fiscal year ended March 31, 2024, as reported in this filing, compared with the same period a year earlier where the filing states it.

Net loss: $75.34M; compared with a net loss of $104.61M a year earlier
Diluted EPS: -$3.89; compared with -$6.49 a year earlier

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Title of each class	Trading Symbol	Name of each exchange on which registered
Ordinary Shares, no par value	PRTG	Nasdaq Capital Market

		Page No.

Forward-Looking Statements		1

Foreign Private Issuer Status and Reporting Currency		2

Part I

Item 1.	Identity of Directors, Senior Management and Advisors	2
Item 2.	Offer Statistics and Expected Timetable	2
Item 3.	Key Information	2
Item 4.	Information on the Company	19
Item 4A.	Unresolved Staff Comments	33
Item 5.	Operating and Financial Review and Prospects	34
Item 6.	Directors, Senior Management and Employees	47
Item 7.	Major Shareholders and Related Party Transactions	68
Item 8.	Financial Information	71
Item 9.	The Offer and Listing	71
Item 10.	Additional Information	73
Item 11.	Quantitative and Qualitative Disclosures about Market Risk	86
Item 12.	Description of Securities Other than Equity Securities	88

Part II

Item 13.	Defaults, Dividend Arrearages and Delinquencies	88
Item 14.	Material Modifications to the Rights of Security Holders and Use of Proceeds	88
Item 15.	Controls and Procedures	88
Item 16A.	Audit Committee Financial Expert	90
Item 16B.	Code of Ethics	90
Item 16C.	Principal Accountant Fees and Services	90
Item 16D.	Exemptions from the Listing Standards for Audit Committees	91
Item 16E.	Purchases of Equity Securities by the Issuer and Affiliated Purchasers	91
Item 16F.	Change in Registrant’s Certifying Accountant	91
Item 16G.	Corporate Governance	91
Item 16H.	Mine Safety Disclosure	91
Item 16I.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.	91
Item 16J.	Insider Trading Policies	91
Item 16K.	Cybersecurity	92

Part III

Item 17.	Financial Statements	93
Item 18.	Financial Statements	93
Item 19.	Exhibits	93

Years ended March 31,	2024			2023			2022			2021			2020
	All amounts in 000'$ (except for per share amounts)
Net loss before non-controlling interests	$	(75,382	)	$	(104,666	)	$	(19,169	)	$	(17,189	)	$	(7,249	)
Net loss attributable to owners of the Company	$	(75,339	)	$	(104,611	)	$	(16,870	)	$	(15,833	)	$	(5,333	)
Comprehensive loss	$	(75,420	)	$	(109,949	)	$	(19,169	)	$	(17,189	)	$	(6,373	)
Comprehensive loss attributable to the owners of the Company	$	(75,377	)	$	(109,894	)	$	(16,870	)	$	(15,833	)	$	(4,457	)
Working capital	$	4,816		$	11,811		$	24,049		$	1,738		$	1,226
Total assets	$	7,779		$	99,129		$	194,662		$	174,860		$	173,174
Capital stock	$	219,499		$	218,782		$	158,324		$	130,649		$	117,817
Warrant liability	$	1,564		$	-		$	33		$	1,120		$	-
Stock option reserves	$	23,841		$	21,204		$	16,928		$	7,977		$	58
Equity attributable to owners of the Company	$	4,022		$	76,045		$	121,205		$	101,449		$	96,531
Weighted average number of shares outstanding - Basic		19,343			16,119			13,060			11,733			10,952
Weighted average number of shares outstanding - Diluted		19,343			16,119			13,060			11,733			10,952
Net loss per share - Basic	$	(3.89	)	$	(6.49	)	$	(1.29	)	$	(1.35	)	$	(0.49	)
Net loss per share - Diluted	$	(3.89	)	$	(6.49	)	$	(1.29	)	$	(1.35	)	$	(0.49	)

Year ended March 31, 2024	October		November		December		January		February		March
Canadian Dollar
High		1.39		1.39		1.36		1.35		1.36		1.36
Low		1.36		1.36		1.32		1.33		1.34		1.35
British Pounds
High		0.83		0.82		0.80		0.79		0.80		0.79
Low		0.81		0.79		0.78		0.78		0.79		0.78
EU Euros
High		0.96		0.95		0.93		0.92		0.93		0.93
Low		0.94		0.91		0.90		0.91		0.92		0.91

Years ended March 31,	2024		2023		2022		2021		2020
Average for the Fiscal Year
Canadian Dollar		1.35		1.32		1.25		1.32		1.33
British Pounds		0.80		0.83		0.73		0.77		0.79
EU Euros		0.92		0.96		0.86		0.86		0.90

		October 3, 2023
Exercise price		$1.90
Share price		$1.97
Expected life		1.50 years
Expected volatility		96.0%
Risk-free interest rate		5.32%
Dividend yield		–

Name, Province/State and Country of Residence and Present Position with Portage (1)	Date became Director/Officer	Principal Occupation Last five years
Dr. Gregory Bailey (2) London, U.K. Lead Director effective August 16, 2022 (formerly Chairman of the Board)	June 4, 2013	See Item 6 (A) above
Mr. Steven Mintz (3) Ontario, Canada Director	April 6, 2016	See Item 6 (A) above
Mr. James Mellon (4) Isle of Man Director	February 15, 2022	See Item 6 (A) above
Jean-Christophe Renondin, MD (5) Paris, France Director	April 30, 2024	See Item 6 (A) above
Justin Stebbing, MD, PhD (6) London, U.K. Director	April 30, 2024	See Item 6 (A) above
Dr. Ian Walters Connecticut, USA Chairman of the Board effective August 16, 2022 and CEO effective May 1, 2019 (formerly Director)	August 1, 2016	See Item 6 (A) above
Mr. Allan Shaw New York, USA CFO	May 12, 2020	See Item 6 (A) above
Mr. Robert Kramer (7) Utah, USA Chief Scientific Officer	January 8, 2019	See Item 6 (A) above
Mr. Brian Wiley Massachusetts, USA Chief Business Officer	February 15, 2022	See Item 6 (A) above

Board Diversity Matrix (As of August 14, 2024)
Country of Principal Executive Offices:	British Virgin Islands
Foreign Private Issuer	Yes
Disclosure Prohibited under Home Country Law	No
Total Number of Directors	6
	Female	Male	Non-Binary	Did Not Disclose Gender
Part I: Gender Identity
Directors	0	6	–	–
Part II: Demographic Background
Under-represented person in Home Country	2
LGBTQ+	–
Did not Disclose Demographic Background	1

	Option Awards ⁽¹⁾										Stock Awards ^{(6) (7) (8)}
Name	Number of Securities Underlying Unexercised Options (#) Exercisable ⁽¹⁾			Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) ⁽¹⁾			Option Exercise Price ($)		Option Expiration Date		Number of Shares or Units of Stock That Have Not Vested (#)		Market Value of Shares or Units of Stock That Have Not Vested (#)		Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)		Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested (#)
Ian B Walters		75,422			226,266	⁽²⁾	$	2.92	March 30, 2033			-		-		-		-
Ian B. Walters		62,850	⁽³⁾		62,850	⁽³⁾	$	10.22	January 19, 2032			-		-		-		-
Ian B. Walters		151,000	⁽⁴⁾		-	⁽⁴⁾	$	17.75	January 13, 2031			-		-		-		-

Allan Shaw		35,212			105,638	⁽²⁾	$	2.92	March 30, 2033			-		-		-		-
Allan Shaw		16,800	⁽³⁾		16,800	⁽³⁾	$	10.22	January 19, 2032			-		-		-		-
Allan Shaw		131,000	⁽⁴⁾		-	⁽⁴⁾	$	17.75	January 13, 2031			-		-		-		-

Steven Innaimo		6,900	⁽⁶⁾		-		$	10.22	April 26, 2024	⁽⁶⁾		-		-		-		-
Steven Innaimo		175,000	⁽⁶⁾		-		$	17.75	April 26, 2024	⁽⁶⁾		-		-		-		-

Robert Kramer		13,856			41,569	⁽²⁾	$	2.92	March 30, 2033			-		-		-		-
Robert Kramer		12,550	⁽³⁾		12,550	⁽³⁾	$	10.22	January 19, 2032			-		-		-		-
Robert Kramer		61,000	⁽⁴⁾		-	⁽⁴⁾	$	17.75	January 13, 2031			-		-		-		-

Brian Wiley		11,930			35,789	⁽²⁾	$	2.92	March 30, 2033			-		-		-		-
Brian Wiley		30,000	⁽³⁾		30,000	⁽³⁾	$	10.22	January 19, 2032			-		-		-		-

Justin Fairchild		7,725			23,175	⁽²⁾	$	2.92	March 30, 2033			-		-		-		-
Justin Fairchild		12,500			37,500	⁽⁵⁾	$	11.00	June 8, 2032			-		-		-		-

⁽¹⁾	Amounts represent options to purchase ordinary shares.
⁽²⁾	These options to purchase ordinary shares were granted on March 30, 2023, have a ten-year term and vest ratably on each of the first four anniversaries of the grant date.
⁽³⁾	These options to purchase ordinary shares were granted on January 19, 2022, have a ten-year term and vest ratably on each of the first four anniversaries of the grant date.
⁽⁴⁾	These options to purchase ordinary shares were granted on January 13, 2021, have a ten-year term and vest ratably on each of the first three anniversaries of the grant date.
⁽⁵⁾	These options to purchase ordinary shares were granted on June 8, 2022, have a ten-year term and vest ratably on each of the first four anniversaries of the grant date.
⁽⁶⁾	Mr. Innaimo resigned his position effective January 26, 2024 accordingly, 6,900 unvested options to purchase ordinary shares granted January 19, 2022 and 30,900 options to purchase ordinary shares granted March 30, 2023 were forfeited. On April 26, 2024, 175,000 vested options to purchase ordinary shares originally granted January 13, 2021 and 6,900 vested options to purchase ordinary shares originally granted January 19, 2022, expired unexercised in accordance with the terms of the option agreements.
⁽⁷⁾	The above table excludes 152,000 restricted stock units to Mr. Walters granted January 13, 2021 with a grant day value of $2,698,000, which vested on grant date but are subject to certain restrictions and 86,100 restricted stock units granted January 19, 2022 with a grant day value of $879,942, which vested on grant date but are subject to certain restrictions.
⁽⁸⁾	The above table excludes 23,040 restricted stock units to Mr. Shaw granted January 19, 2022 with a grant day value of $235,469, which vested on grant date but are subject to certain restrictions.
⁽⁹⁾	The above table excludes 91,000 restricted stock units to Mr. Kramer granted January 13, 2021, with a grant day value of $1,615,250, which vested on grant date but are subject to certain restrictions and 17,200 restricted stock units granted January 19, 2022 with a grant day value of $175,784, which vested on grant date but are subject to certain restrictions.

	FISCAL 2024 (***)				FISCAL 2023 (***)
		BASE SALARY	TARGET BONUS			BASE SALARY	TARGET BONUS
Ian Walters	$	642,700	60	%	$	618,000	59	%
Allan Shaw	$	469,000	40	%	$	348,000	40	%
Robert Kramer	$	225,000	40	%	$	216,000	40	%
*Steven Innaimo ^()**	$	325,500	30	%	$	310,000	30	%
Brian Wiley	$	183,750	40	%	$	175,000	30	%
Justin Fairchild ^()**	$	300,000	30	%	$	300,000	30	%

	(*)	Mr. Innaimo resigned his position effective January 26, 2024.
	(**)	Mr. Fairchild’s Executive Service Agreement took effect on June 1, 2022 and his base salary for Fiscal 2023 was pro-rated based upon the contract terms. Additionally, Mr. Fairchild accepted a reduced role at 40% of his base salary commencing February 1, 2024. Mr. Fairchild resigned on May 31, 2024.
	(***)	The base salaries for officers aggregated $2,399,950 and $2,195,000 in Fiscal 2024 and Fiscal 2023, respectively.

		ANNUAL RETAINER
Board of Directors:
Chair (if applicable)	$	30,000
Lead	$	20,000
All non-employee members	$	40,000
Audit Committee:
Chair	$	15,000
Members	$	7,500
Compensation Committee:
Chair	$	12,000
Members	$	6,000
Nominating Committee:
Chair	$	8,000
Members	$	4,000

	Ordinary Shares Beneficially Owned
Name	Number		Percentage *
Gregory Bailey	3,508,695	^{(1) (8)}	17.64	%
Steven Mintz	161,811	^{(1) (2)}	0.81	%
James Mellon	3,056,671	^{(6) (8)}	15.43	%
Ian Walters	504,362	⁽³⁾	2.51	%
Allan Shaw	183,013	⁽⁴⁾	0.92	%
Robert Kramer	228,140	⁽⁵⁾	1.15	%
Brian Wiley	41,930	⁽⁷⁾	0.21	%

Name of Beneficial Owner	No. of Shares ⁽¹⁾		Percentage of Shares ⁽²⁾

Gregory Bailey		3,508,695		16.65	%
James Mellon		3,056,671		14.56	%

	High				Low
	Nasdaq		CSE		Nasdaq		CSE
Year ended March 31,	US$		US$		US$		US$
2024*		3.87		N/A		0.41		N/A
2023*		11.95		N/A		2.60		N/A
2022*		42.81		N/A		6.57		N/A
2021*		39.50		38.99		8.88		0.09
2020		0.15		0.14		0.07		0.08

●	a dealer in securities;

●	a trader in securities that elects to use a mark-to-market method of accounting for its securities holdings;

●	a financial institution or a bank;

●	an insurance company;

●	a tax-exempt organization;

●	a person that holds our ordinary shares in a hedging transaction or as part of a straddle or a conversion transaction;

●	a person whose functional currency for United States federal income tax purposes is not the U.S. dollar;

●	a person liable for alternative minimum tax;

●	a person that owns, or is treated as owning, 10% or more, by voting power or value, of our ordinary shares;

●	certain former U.S. citizens and residents who have expatriated; or

●	a person who receives our ordinary shares pursuant to the exercise of employee stock options or otherwise as compensation.

●	an individual United States citizen or resident alien of the United States (as specifically defined for United States federal income tax purposes);

●	a corporation, or other entity treated as a corporation for United States federal income tax purposes, created or organized in or under the laws of the United States, any State or the District of Columbia;

●	an estate whose income is subject to United States federal income tax regardless of its source; or

●	a trust (x) if a United States court can exercise primary supervision over the trust's administration and one or more United States persons are authorized to control all substantial decisions of the trust or (y) if it was in existence on August 20, 1996, was treated as a United States person prior to that date and has a valid election in effect under applicable Treasury regulations to be treated as a United States person.

●	you conduct a trade or business in the United States; and

●	the distributions are effectively connected with the conduct of that trade or business (and, if an applicable income tax treaty so requires as a condition for you to be subject to U.S. federal income tax on a net income basis in respect of income from our ordinary shares, such distributions are attributable to a permanent establishment that you maintain in the United States).

●	your gain is effectively connected with a trade or business that you conduct in the United States (and, if an applicable income tax treaty so requires as a condition for you to be subject to U.S. federal income tax on a net income basis in respect of gain from the sale or other disposition of our ordinary shares, such gain is attributable to a permanent establishment maintained by you in the United States); or

●	you are an individual Non-U.S. Holder and are present in the United States for at least 183 days in the taxable year of the sale or other disposition, and certain other conditions exist.

●	you are a corporation or other exempt recipient; or

●	you provide your correct United States federal taxpayer identification number and certify, under penalties of perjury, that you are not subject to backup withholding.

March 31,	2024		2023

Audit fees	$	345,750	$	292,075
Audit-related fees	$	–	$	–
All other fees	$	56,250	$	109,160

Report of Independent Registered Public Accounting Firm (PCAOB ID: 688)	F-1

Consolidated Statements of Financial Position	F-2

Consolidated Statements of Operations and Other Comprehensive Income (Loss)	F-3

Consolidated Statements of Changes in Equity	F-4

Consolidated Statements of Cash Flows	F-5

Notes to Consolidated Financial Statements	F-7


		March 31,
	Notes		2024			2023
Assets
Current assets
Cash and cash equivalents	4	$	5,028		$	10,545
Prepaid expenses and other receivables	5		2,667			2,689
Convertible note receivable	6		-			442
Total current assets			7,695			13,676
Non-current assets
Investment in associate	6		-			806
Investment in public company	7		-			2,087
In-process research and development	9, 11		-			81,683
Deferred commitment fee, net of amortization of $900 and $61, respectively	18		-			839
Right to use asset	8		35			-
Other assets, including equipment, net			49			38
Total non-current assets			84			85,453
Total assets		$	7,779		$	99,129

Liabilities and Equity
Current liabilities
Accounts payable and accrued liabilities	12	$	2,836		$	1,865
Lease liability - current, including interest	8		40			-
Other current liabilities			3			-
Total current liabilities			2,879			1,865
Non-current liabilities
Lease liability - non-current	8		7			-
Warrant liability	13		1,564			-
Deferred tax liability	11, 14		-			10,564
Deferred purchase price payable - Tarus	9, 20		-			7,179
Deferred obligation - iOx milestone	19, 20		-			4,126
Total non-current liabilities			1,571			21,869
Total liabilities			4,450			23,734

Shareholders’ Equity
Capital stock	15		219,499			218,782
Stock option reserve	16		23,841			21,204
Accumulated other comprehensive loss			-			(4,325	)
Accumulated deficit			(239,318	)		(159,616	)
Total equity attributable to owners of the Company			4,022			76,045
Non-controlling interest	22		(693	)		(650	)
Total equity			3,329			75,395
Total liabilities and equity		$	7,779		$	99,129
Commitments and Contingent Liabilities (Note 18)			-			-


								Accumulated						Equity
	Number					Stock		Other						Attributable			Non-
	of		Capital			Option		Comprehensive			(Accumulated			to Owners			Controlling			Total
	Shares		Stock			Reserve		Income (Loss)			Deficit)			of Company			Interest			Equity
Balance, April 1, 2021	12,084	$	130,649		$	7,977	$	958		$	(38,135	)	$	101,449		$	46,153		$	147,602
Share-based compensation expense	-		-			8,951		-			-			8,951			191			9,142
Shares issued under ATM	91		2,643			-		-			-			2,643			-			2,643
Shares issued under offering	1,150		26,450			-		-			-			26,450			-			26,450
Share issuance costs	-		(1,877	)		-		-			-			(1,877	)		-			(1,877	)
Shares issued or accrued for services	8		120			-		-			-			120			-			120
Warrants exercised	16		339			-		-			-			339			-			339
Exchange of notes payable and accrued interest for iOx shares	-		-			-		-			-			-			184			184
Net loss for year	-		-			-		-			(16,870	)		(16,870	)		(2,299	)		(19,169	)
Balance, March 31, 2022	13,349	$	158,324		$	16,928	$	958		$	(55,005	)	$	121,205		$	44,229		$	165,434
Share-based compensation expense	-		-			4,276		-			-			4,276			-			4,276
Shares issued in Tarus acquisition	2,426		17,200			-		-			-			17,200			-			17,200
Shares issued in iOx exchange	1,070		9,737			-		-			-			9,737			(9,737	)		-
Deferred obligation - iOx milestone	-		-			-		-			-			-			(5,478	)		(5,478	)
Excess of non-controlling interest acquired over consideration - iOx	-		29,609			-		-			-			29,609			(29,609	)		-
Shares issued to Lincoln for commitment fee under Committed Purchase Agreement	94		900			-		-			-			900			-			900
Shares issued under ATM	167		944			-		-			-			944			-			944
Purchase of shares issued under Committed Purchase Agreement	480		2,038			-		-			-			2,038			-			2,038
Share issuance costs	-		(90	)		-		-			-			(90	)		-			(90	)
Shares issued or accrued for services	20		120			-		-			-			120			-			120
Net unrealized loss on investments	-		-			-		(5,283	)		-			(5,283	)		-			(5,283	)
Net loss for year	-		-			-		-			(104,611	)		(104,611	)		(55	)		(104,666	)
Balance, March 31, 2023	17,606		218,782			21,204		(4,325	)		(159,616	)		76,045			(650	)		75,395
Share-based compensation expense	-		-			2,637		-			-			2,637			-			2,637
Shares issued under Registered Direct Offering	1,970		-			-		-			-			-			-			-
Shares issued under ATM	186		682			-		-			-			682			-			682
Share issuance costs under ATM	-		(20	)		-		-			-			(20	)		-			(20	)
Shares issued or accrued for services	16		50			-		-			-			50			-			50
Shares issued pursuant to distribution of restricted stock units	6		5			-		-			-			5			-			5
Derecognition of investment in public company	-		-			-		4,363			(4,363	)		-			-			-
Net unrealized loss on investments	-		-			-		(38	)		-			(38	)		-			(38	)
Net loss for year	-		-			-		-			(75,339	)		(75,339	)		(43	)		(75,382	)
Balance, March 31, 2024	19,784	$	219,499		$	23,841	$	-		$	(239,318	)	$	4,022		$	(693	)	$	3,329

Schedule of anti-dilutive effect on loss per share
	As of March 31,
		2024	2023	2022
Warrants		9,631,580	—	33,888
Stock options		1,805,620	1,963,420	1,151,400
Restricted stock units		369,340	378,740	378,740

Schedule of prepaid expenses and other receivables
	As of March 31,
(In thousands)		2024		2023

Prepaid clinical research costs	$	1,924	$	1,653
Prepaid insurance		575		621
Other prepaid expenses		65		56
Tax deposits		64		119
Other receivables		39		71
Research & development tax credits		—		169
Total prepaid expenses and other receivables	$	2,667	$	2,689

Schedule of investment in Stimunity S.A.
	As of and for the Years Ended March 31,
(In thousands)		2024			2023			2022

Balance, beginning of year	$	806		$	1,673		$	1,735
Share of loss		(233	)		(260	)		(62	)
Conversion of Stimunity Convertible Note		429			—			—
Impairment loss		(1,002	)		(607	)		—
Balance, end of year	$	—		$	806		$	1,673

Schedule of roll-forward of the investments in intensity
(In thousands)		Intensity

Balance as of April 1, 2022 (including unrealized gain of $1.611)	$	7,409
Unrealized loss on investment		(5,322	)
Balance as of March 31, 2023		2,087
Proceeds received from sale of Intensity shares		(2,812	)
Gain on sale of Intensity		725
Balance as of March 31, 2024	$	–

Schedule of lease liability
Twelve Months Ended March 31,		Amount
2025	$	43
2026		7
Total		50
Less: Interest		(3	)
Total lease liability		47
Lease liability - current		40
Lease liability - non-current	$	7

Schedule of fair value of assets acquired and liabilities assumed
Assets:		(In thousands)
Identifiable intangible assets	$	28,200
Goodwill		538
Total assets	$	28,738
Consideration:
Fair value of shares issued	$	17,200
Liabilities assumed		3,000
Deferred purchase consideration at fair value		8,538
Total liabilities	$	28,738

Schedule of pro forma information
	Years Ended March 31,
(In thousands)		2023			2022
Loss from operations	$	(16,277	)	$	(17,931	)
Loss before provision for income taxes	$	(122,239	)	$	(17,164	)
Net loss	$	(104,383	)	$	(21,516	)
Total comprehensive loss for year	$	(109,666	)	$	(21,516	)
Loss per share	$	(5.63	)	$	(1.24	)

Schedule of roll-forward of goodwill
	As of March 31,
(In thousands)		2023

Balance, beginning of year	$	43,324
Tarus goodwill		538
Loss on impairment		(43,862	)
Balance, end of year	$	—

Schedule of in process research and development
		Value as of March 31,
Project #	Description		2024		2023
iOx:
PORT 2 (IMM60)	Melanoma & Lung Cancers	$	—	$	36,181
PORT 3 (IMM65)	Ovarian/Prostate Cancers		—		21,709
			—		57,890

Oncomer/Saugatuck	DNA Aptamers		—		178

Tarus:
PORT-6 & PORT-7	Adenosine Receptors		—		22,723
PORT-8	Adenosine Receptors		—		420
PORT-9	Adenosine Receptors		—		472
			—		23,615

In-process research and development		$	—	$	81,683

Deferred tax liability		$	—	$	13,195

Schedule of accounts payable and accrued liabilities
	As of March 31,
(In thousands)		2024		2023

Accrued CRO	$	1,137	$	58
Accrued bonuses and other payroll-related expenses		525		465
Accounts payable		482		274
Accrued legal fees		194		357
Accrued accounting and auditing fees		189		133
Accrued other professional fees		157		229
Accrued clinical and R&D services		109		264
Other		43		34
Accrued rent and administration		—		51
Total accounts payable and accrued liabilities	$	2,836	$	1,865