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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (10,546) $ (79,231)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Acquired in-process research and development 0 84,478
Share-based compensation expense 1,772 644
Depreciation and amortization 54 16
Change in fair value of preferred stock warrant liability 0 290
Change in operating assets and liabilities:    
Prepaid expenses and other assets (1,455) (2,447)
Other assets 142 455
Accounts payable 321 (409)
Accrued expenses (1,650) (1,250)
Lease liabilities, net (1) 5
Net cash (used in) provided by operating activities (11,363) 2,551
Investing activities    
Cash acquired in connection with the Merger 0 17,143
Net cash provided by investing activities 0 17,143
Financing activities    
Issuance of common stock, net of issuance costs 1 62,317
Exercise of warrants and stock options to purchase common stock 7 81
Net cash provided by financing activities 8 62,398
Net increase (decrease) in cash and cash equivalents (11,355) 82,092
Cash and cash equivalents at beginning of period 103,554 47,089
Cash and cash equivalents at end of period 92,199 129,181
Supplemental disclosure of cash flow information    
Interest paid 102 84
Noncash financing activities    
Warrant liability reclassification to equity 0 396
Issuance of convertible preferred stock upon merger 0 5,452
Conversion of convertible preferred stock into common stock upon Merger 0 83,302
Issuance of common stock upon Merger $ 0 $ 97,982