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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net loss $ (84,616) $ (59,146)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 517 489
Stock-based compensation 11,866 3,329
Non-cash research and development expenses   20,000
Non-cash lease expense 855 448
Non-cash loss from equity method investment in joint venture   50
Changes in fair value of derivative liability   (5,821)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (332) (836)
Accounts payable (6,443) 610
Accrued expenses and other current liabilities 5,636 3,164
Operating lease liabilities 569 (455)
Derivative liability   3,369
Net cash used in operating activities (71,948) (23,157)
Investing activities    
Purchase of property and equipment (4,541) (540)
Investment in joint venture   (50)
Net cash used in investing activities (4,541) (590)
Financing activities    
Proceeds from issuance of Series B convertible preferred stock, net of issuance costs   151,581
Deferred offering costs   (2,451)
Proceeds from the exercise of stock options 183 14
Net cash provided by financing activities 183 149,144
Net (decrease) increase in cash, cash equivalents, and restricted cash (76,306) 125,397
Cash, cash equivalents and restricted cash at beginning of year 276,316 8,189
Cash, cash equivalents and restricted cash at end of year 200,010 133,586
Supplemental cash flow information:    
Cash received for interest 892 16
Supplemental schedule of noncash investing and financing activities:    
Property and equipment in accounts payable and accrued expenses 1,360  
Deferred offering costs in accounts payable and accrued expenses   1,050
Operating lease right-of-use asset obtained in exchange for operating lease liabilities 15,319  
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 198,538 133,477
Restricted cash 1,472 109
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 200,010 $ 133,586