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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (32,024,000) $ (5,431,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 32,000 0
Change in fair value of preferred stock tranche liability (200,000) (180,000)
Research and development license expense 5,500,000 3,000,000
Stock-based compensation 3,594,000 0
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (4,184,000) 0
Accounts payable 1,872,000 0
Accrued expenses and other liabilities 3,183,000 907,000
Due to related party (8,000) 5,000
Net cash used in operating activities (22,035,000) (1,699,000)
Cash flows from investing activities    
Purchase of property, plant and equipment (534,000) 0
Net cash used in investing activities (534,000) 0
Cash flows from financing activities    
Proceeds from issuances of Series A convertible preferred stock   18,000,000
Proceeds from note payable to related party   1,673,000
Repayment of note payable to related party   (1,646,000)
Net cash provided by financing activities   18,027,000
Net (decrease) increase in cash and cash equivalents (22,569,000) 16,328,000
Cash at the beginning of the period 251,253,000 0
Cash at the end of the period 228,684,000 16,328,000
Supplemental disclosure of noncash investing and financing activities:    
Purchase of research and development license not yet paid 5,500,000 3,000,000
Property, plant and equipment in accounts payable and accrued expenses 1,101,000 0
Acquisition of property, plant and equipment funded by landlord 607,000 0
Deferred offering costs not yet paid $ 128,000 0
Allocation of preferred stock tranche liability   1,050,000
Series A issuance costs not yet paid   $ 430,000