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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net loss $ (90,195) $ (37,138)
Loss from continuing operations (90,195) (31,139)
Loss from discontinued operations   (5,999)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 258 109
Stock-based compensation expenses 10,698 739
Loss on early extinguishment of debt 554  
Change in fair value of preferred stock purchase right liability 980  
Change in fair value of preferred stock warrant liability 105  
Common stock issued in exchange for services 725 113
Noncash interest expense 553 1,589
Other   (15)
Changes in operating assets and liabilities:    
Accounts receivable 7 (1,086)
Prepaid expenses and other current assets (4,881) (1,802)
Other assets (971)  
Accounts payable 103 (480)
Accrued compensation 2,655 1,738
Accrued expenses and other current liabilities 3,443 1,108
Payments made to PLI   (6,866)
Payable to PLI (937) 1,130
Deferred revenue 13,398 4,931
Net cash used in operating activities – continuing operations (63,505) (29,931)
Net cash used in operating activities – discontinued operations   1,913
Net cash used in operating activities (63,505) (28,018)
Cash flows from investing activities    
Purchase of property and equipment (1,136) (204)
Net cash used in investing activities – continuing operations (1,136) (204)
Net cash used in investing activities – discontinued operations   (859)
Net cash used in investing activities (1,136) (1,063)
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock, net of issuance costs 73,749 73,826
Proceeds from issuance of long-term debt, net of issuance costs   7,338
Payments of stock issuance costs   (23)
Repayment of debt (7,963)  
Proceeds from sale of common stock in initial public offering 218,500  
Payment of financing costs (17,257) (1,452)
Proceeds from issuance of common stock under employee stock purchase plan 428  
Proceeds from issuance of common stock upon stock option exercises 237 197
Net cash provided by financing activities 267,694 79,886
Net increase in cash and cash equivalents 203,053 50,805
Cash and cash equivalents at beginning of period – continuing operations 54,201 4,450
Cash and cash equivalents at beginning of period – discontinued operations 4,975 3,921
Cash and cash equivalents cash at end of period 257,254 59,176
Cash and cash equivalents at end of period – discontinued operations   4,975
Cash and cash equivalents at end of period – continuing operations 257,254 54,201
Supplemental disclosures    
Cash paid for income taxes 15 7
Cash paid for interest expense on Oxford debt 315 571
Supplemental schedule of non-cash investing and financing activities    
Conversion of convertible preferred stock into common stock upon completion of initial public offering 210,810  
Reclassification of preferred stock purchase right liability to equity due to issuance of Series D convertible preferred stock 4,880  
Reclassification of warrant liability to equity due to conversion from preferred stock warrant to common stock warrant upon completion of initial public offering 169  
Issuance of Series D-2 convertible preferred stock for the settlement of deferred purchase price 6,144  
Acquisition-related consideration held in escrow   (3,500)
Issuance of Series C convertible preferred stock for deferred purchase price   5,000
Vesting of unvested issued common stock 32 38
Costs incurred, but not paid, in connection with capital expenditures included in accounts payable 153 181
Preferred stock purchase right liability $ (4,880) $ 3,900