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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (35,273) $ (27,974)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 3,193 1,742
Change in fair value of warrant liability (283) 826
Change in fair value of convertible notes payable 340
Research and development expense - license amendment 841
Gain on forgiveness of note payable (147)
Net loss on extinguishment of convertible debt 2,387
Amortization of debt discount 1,564
Changes in operating assets and liabilities    
Prepaid expenses and other current assets (6,363) (1,214)
Accounts payable 613 (849)
Accrued expenses (134) 644
Derivative liability (1,174)
Licenses payable (800) 2,875
Net cash used in operating activities (37,440) (20,146)
Cash flows (used in) provided by financing activities    
Payment of convertible note (13,620)
Proceeds from issuance of common stock, net of issuance costs 97,957
Proceeds from exercise of warrants 7,252
Payment of deferred offering costs (126)
Proceeds from exercise of options 8 65
Proceeds from sales of common stock under ESPP 75 30
Net cash (used in) provided by financing activities (43) 91,684
Net (decrease) increase in cash (37,483) 71,538
Cash, beginning of period 78,734 15,662
Cash, end of period 41,251 87,200
Supplemental disclosure of cash flow information:    
Cash paid for interest 9 8
Cash paid for income taxes
Non-cash investing and financing activities:    
Reclass of warrant liabilities related to Series A warrants exercised for cash 1,155
Right-of-use assets obtained in exchange for operating lease liabilities 75
Issuance of common stock for convertible notes 40
Issuance of common stock for license payable 840
Deferred offering costs, accrued but not paid 127
Issuance of common stock for settlement of debt 1,377
Extinguishment of beneficial conversion feature $ 1,519