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Condensed Consolidated Statements of Cash Flows (Unaudited)
9 Months Ended
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Cash flows from operating activities    
Net loss $ (124,137,000) $ (41,693,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 283,000 3,000
Change in fair value of preferred stock tranche liability   17,030,000
Research and development license expense 6,750,000 6,000,000
Stock-based compensation 13,229,000 1,341,000
Build-to-suit lease 357,000  
Other 93,000  
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,530,000) (604,000)
Accounts payable 16,000,000 5,403,000
Accrued expenses and other liabilities 12,179,000 1,579,000
Due to related party (8,000) 60,000
Net cash used in operating activities (76,784,000) (10,881,000)
Cash flows from investing activities    
Purchase of research and development license (6,000,000) (3,000,000)
Purchase of property, plant and equipment (7,034,000) (31,000)
Net cash used in investing activities (13,034,000) (3,031,000)
Cash flows from financing activities    
Proceeds from Term Loan, net 29,978,000  
Proceeds from initial public offering, net of underwriting discounts and commission and other offering costs   167,162,000
Proceeds from note payable to related party   1,673,000
Repayment of note payable to related party   (1,673,000)
Net cash provided by financing activities 29,978,000 292,546,000
Net (decrease) increase in cash, cash equivalents and restricted cash (59,840,000) 278,634,000
Cash, cash equivalents and restricted cash at the beginning of the period 251,253,000  
Cash, cash equivalents and restricted cash at the end of the period 191,413,000 278,634,000
Cash and cash equivalents 188,785,000 278,634,000
Restricted cash 2,628,000  
Supplemental disclosure of cash flow information:    
Cash paid for interest 110,000 28,000
Supplemental disclosure of noncash investing and financing activities:    
Property, plant and equipment in accounts payable and accrued expenses 6,658,000  
Acquisition of property, plant and equipment funded by landlord 606,000  
Build-to-suit lease liability 26,607,000  
Deferred offering costs not yet paid 204,000  
Reclassification of preferred stock tranche liability   18,080,000
Allocation of preferred stock tranche liability   1,050,000
Conversion of Series A and Series B convertible preferred stock to common stock   142,240,000
Purchase of research and development license not yet paid $ 750,000 3,000,000
Common Stock    
Supplemental disclosure of noncash investing and financing activities:    
Issuance costs for issuances of stock not yet paid   1,273,000
Series A Convertible Preferred Stock    
Cash flows from financing activities    
Proceeds from convertible preferred stock, net of issuance costs   29,569,000
Supplemental disclosure of noncash investing and financing activities:    
Issuance costs for issuances of stock not yet paid   174,000
Series B Convertible Preferred Stock    
Cash flows from financing activities    
Proceeds from convertible preferred stock, net of issuance costs   $ 95,815,000