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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 $ (30,637) $ (31,669)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization expense 377
Non-cash lease expense 189 21
Stock-based compensation expense 1,048 1,210
Change in fair value of derivative liability 3,501 10,875
Change in fair value of common stock warrant liability (500)
Change in fair value of earnout liability (9,277)
Prepaid expenses and other current assets (2,212) (247)
Other receivables 600
Other non-current assets (347) (250)
Accounts payable 2,938 358
Accrued expenses and other current liabilities 959 1,225
Operating lease liability (117) 10
Other non-current liabilities (200) 200
Net cash used in operating activities (33,678) (18,267)
Cash flows used in investing activities    
Purchases of property and equipment (2,428)
Net cash used in investing activities (2,428)
Cash flows from financing activities    
Net proceeds from Reverse Recapitalization and PIPE Financing (Note 3) 95,271
Payment of Reverse Recapitalization related expenses (5,288)
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs 10,750 11,234
Proceeds from exercise of common stock options 235 53
Proceeds from exercise of common stock warrants 1
Net cash provided by financing activities 100,969 11,287
Net increase (decrease) in cash, cash equivalents and restricted cash 64,863 (6,980)
Cash, cash equivalents and restricted cash at beginning of the year 20,183 27,163
Cash, cash equivalents and restricted cash at end of the year 85,046 20,183
Supplemental and non-cash items reconciliations:    
Accounts payable and accrued expenses for purchases of property and equipment 436
Right-of-use asset obtained in exchange for lease liabilities 1,357
Non-cash leasehold improvements 1,378 256
Vesting of founders’ restricted stock 10 10
Conversion of redeemable convertible preferred stock into common stock in connection with Reverse Recapitalization (66,249)
Deferred issuance costs reclassified to additional paid in capital 5,288
Net liabilities assumed upon the closing of Reverse Recapitalization (7,222)
Recognition of earnout liability 15,020
Recognition (settlement) of derivative tranche liability (11,659) (6,770)
Letter of credit issued in connection with lease recognition $ 345