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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue:        
Total revenue, net $ 6,652 $ 3,014 $ 23,139 $ 8,293
Operating expenses:        
Costs of goods sold, including related party expenses of $266 and $121, respectively, and $926 and $332, respectively 3,616 2,763 13,315 7,584
Selling, general and administrative, including related party expenses of $126 and $124, respectively, and $376 and $369, respectively 17,032 24,725 87,188 50,642
Research and development, including related party expenses of $44 and $52, respectively, and $163 and $182, respectively 3,365 3,238 16,298 13,206
Amortization of intangible assets 567 567 1,700 1,700
Total operating expenses 24,580 31,293 118,501 73,132
Loss from operations (17,928) (28,279) (95,362) (64,839)
Change in the fair value of earnout liability 2,814   55,495  
Change in the fair value of convertible promissory notes (852)   (1,008)  
Change in the fair value of warrants 540 (2,231) 6,624 (9,282)
Interest expense, net (164) (361) (485) (949)
Other income, net 1,441 141 2,371 1,032
Loss before income taxes (14,149) (30,730) (32,365) (74,038)
Provision for income taxes 0 0 0 17
Net loss (14,149) (30,730) (32,365) (74,055)
Accretion of Legacy Gelesis senior preferred stock to redemption value   (23,111) (37,934) (139,237)
Accretion of noncontrolling interest put option to redemption value (80) (95) (253) (285)
Net loss attributable to common stockholders $ (14,229) $ (53,936) $ (70,552) $ (213,577)
Net loss per share attributable to common stockholders - basic and diluted $ (0.20) $ (9.61) $ (1.02) $ (38.19)
Weighted average common shares outstanding - basic and diluted 72,772,627 5,615,192 69,349,679 5,592,931
Product Revenue, Net        
Revenue:        
Total revenue, net $ 6,443 $ 3,014 $ 22,930 $ 8,293
Licensing Revenue        
Revenue:        
Total revenue, net $ 209   $ 209