XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net loss $ (23,533) $ (5,851)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation 4,550 276
Depreciation 43 1
Non-cash lease expense 185
Non-cash interest expense 264
Change in fair value of embedded derivative liability 0 205
Loss on extinguishment of convertible promissory note 0 754
Changes in operating assets and liabilities:    
Prepaids and other current assets (1,852) 436
Accounts payable 1,038 (205)
Accrued & other current liabilities 2,691 (761)
Deferred revenue (582) 699
Net cash used in operating activities (17,460) (4,182)
Investing activities:    
Purchases of property and equipment (1,122) (134)
Net cash used in investing activities (1,122) (134)
Financing activities:    
Proceeds from issuance of convertible preferred stock, net of issuance costs 113,659
Proceeds from exercise of stock options, including early exercise 276 120
Net cash provided by financing activities 276 113,779
Net (decrease) increase in cash and restricted cash (18,306) 109,463
Cash and restricted cash at beginning of period 280,724 15,498
Cash and restricted cash at end of period 262,418 124,961
Supplemental disclosure of noncash activities    
Purchases of property and equipment included in accounts payable and accrued liabilities 1,224
Right-of-use assets and lease liabilities recognized upon commencement of lease 3,370
Conversion of convertible note (including accrued interest) and derivative liability for Series B-2 convertible preferred stock 7,917
Deferred offering costs included in accounts payable and accrued and other current liabilities 81
Issuance costs and amounts payable for convertible preferred stock included in accounts payable and accrued liabilities $ 163