XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Total revenue, net $ 8,973 $ 2,178 $ 16,487 $ 5,279
Operating expenses:        
Costs of goods sold, including related party expenses of $359 and $87, respectively, and $659 and $211, respectively 4,786 2,005 9,699 4,821
Selling, general and administrative, including related party expenses of $125 and $123, respectively, and $250 and $246, respectively 32,450 13,972 70,156 25,917
Research and development, including related party expenses of $57 and $64, respectively, and $119 and $130, respectively 5,523 5,592 12,933 9,968
Amortization of intangible assets 566 566 1,133 1,133
Total operating expenses 43,325 22,135 93,921 41,839
Loss from operations (34,352) (19,957) (77,434) (36,560)
Change in the fair value of earnout liability 18,812   52,681  
Change in the fair value of convertible promissory notes     (156)  
Change in the fair value of warrants 2,600 (4,977) 6,084 (7,051)
Interest expense, net (186) (227) (321) (588)
Other income, net 613 422 930 891
Loss before income taxes (12,513) (24,739) (18,216) (43,308)
Provision for income taxes       17
Net loss (12,513) (24,739) (18,216) (43,325)
Accretion of Legacy Gelesis senior preferred stock to redemption value   (82,365) (37,934) (116,126)
Accretion of noncontrolling interest put option to redemption value (85) (96) (173) (190)
Net loss attributable to common stockholders $ (12,598) $ (107,200) $ (56,323) $ (159,641)
Net loss per share attributable to common stockholders - basic and diluted $ (0.17) $ (19.18) $ (0.83) $ (28.54)
Weighted average common shares outstanding - basic and diluted 72,423,043 5,589,728 67,609,838 5,592,911
Product Revenue, Net        
Revenue:        
Total revenue, net $ 8,973 $ 2,178 $ 16,487 $ 5,279