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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (18,019) $ (7,077)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 76 44
Non-cash interest expense 19 20
Non-cash lease expense 179 68
Stock-based compensation expense 3,299 833
Changes in assets and liabilities:    
Prepaid expenses and other assets (575) 493
Accounts payable and accrued expenses 131 405
Lease obligations (176) (69)
Net cash used in operating activities (15,066) (5,283)
Cash flows from investing activities    
Purchase of property and equipment (223) (261)
Net cash used in investing activities (223) (261)
Cash flows from financing activities    
Proceeds from issuance of common stock 50,177 28,125
Payment of equity issuance costs (75) (1,822)
Financing lease principal payments 0 (6)
Net cash provided by financing activities 50,102 26,297
Net increase in cash, cash equivalents, and restricted cash 34,813 20,753
Cash, cash equivalents, and restricted cash at beginning of period 95,109 24,190
Cash, cash equivalents, and restricted cash at end of period 129,922 44,943
Supplemental disclosure of non-cash investing and financing transactions:    
Series B Convertible Preferred Stock issuance 0 4,988
Purchase of property and equipment 611 44
Right-of-use asset related to operating leases 0 926
Equity issuance costs $ 71 $ 108