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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (19,280) $ (88,355)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 10  
Change in fair value of preferred stock tranche rights liability and preferred stock warrant liability   81,157
Stock-based compensation expense 1,333 253
Amortization of premiums and accretion of discounts on marketable securities, net 384  
Amortization of right-of-use asset 66  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 3,282 (1,108)
Other assets (92) (13)
Accounts payable 580 741
Operating lease liability (66)  
Accrued expenses and other current liabilities (984) 691
Net cash used in operating activities (14,767) (6,634)
Cash flows from investing activities    
Purchases of marketable securities (12,129)  
Proceeds from maturities and sales of marketable securities 15,860  
Purchases of property and equipment (45) (6)
Net cash provided by (used in) investing activities 3,686 (6)
Cash flows from financing activities    
Proceeds from issuance of Series B milestone shares, net of issuance costs   30,031
Payments for deferred offering costs (31) (220)
Proceeds from the exercise of stock options 17  
Net cash provided by (used in) financing activities (14) 31,675
Net change in cash and cash equivalents (11,095) 25,035
Cash and cash equivalents at the beginning of the period 122,162 43,777
Cash and cash equivalents at the end of the period 111,067 68,812
Supplemental disclosure of cash flow information    
Cash paid for income taxes 0 0
Cash paid for interest 0 0
Supplemental disclosure of noncash investing and financing activities    
Right-of-use assets obtained in exchange for operating lease liabilities 233  
Deferred offering costs in accrued expenses and other current liabilities 207 497
Purchases of property and equipment in accounts payable 42 0
Reclassification of preferred stock tranche rights liability upon share issuance 0 81,190
Reclassification of warrant liability upon exercise of preferred stock warrant   5,380
Deferred offering costs in accounts payable $ 0 1,635
Series A -1 Convertible Preferred Stock Warrant Liability [Member]    
Cash flows from financing activities    
Proceeds from exercise of warrants   1,250
Common Stock Warrants [Member]    
Cash flows from financing activities    
Proceeds from exercise of warrants   $ 614