XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flow from operating activities:    
Net loss $ (36,489) $ (14,740)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 3,747 1,189
Depreciation and amortization expense 48 7
Accretion of discounts and amortization of premiums on investments, net (324)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 4,375 (2,121)
Other long-term assets (407) (278)
Accounts payable 3,117 1,654
Accrued and other liabilities 1,635 (33)
Operating lease assets and liabilities, net 41 16
Net cash used in operating activities (24,257) (14,306)
Cash flow from investing activities:    
Purchases of short-term investments (97,363)
Sales and maturities of short-term investments 89,994
Purchases of property and equipment (191) (96)
Net cash used in investing activities (7,560) (96)
Cash flow from financing activities:    
Proceeds from sale of Series A redeemable convertible preferred stock, net of issuance costs 63,512
Payments for deferred offering costs (135)
Proceeds from exercise of stock options 174
Proceeds from issuance of common stock, net of issuance costs 127,195
Net cash provided by financing activities 39 190,707
Net (decrease) increase in cash and cash equivalents (31,778) 176,305
Cash and cash equivalents at the beginning of the year 54,197 4,573
Cash and cash equivalents at the end of the period 22,419 180,878
Supplemental disclosure of noncash investing and financing activities:    
Right-of-use asset obtained in exchange for operating lease liability 765 583
Deferred offering costs included in accounts payable 149 250
Purchases of property and equipment in accounts payable $ 34