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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net loss $ 214,521 $ (38,033)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 603 535
Stock-based compensation 13,794 4,292
Change in operating lease right of use assets 12  
Fair value adjustment for preferred stock tranche rights liability   (1,265)
Deferred rent   (35)
Changes in operating assets and liabilities:    
Grants receivable (4,071) 5,175
Research and development tax credits receivable 727 (142)
Refundable income taxes (7,544)  
Prepaid expenses and other current assets (11,789) (1,927)
Accounts payable 2,280 1,677
Accrued expenses and other liabilities 9,959 2,759
Deferred income 3,480 0
Deferred revenue 281,128 1,788
Unrecognized tax benefits 17,000 0
Net cash provided by (used in) operating activities 513,140 (25,176)
Cash flows from investing activities    
Purchase of property and equipment (1,181) (356)
Purchase other assets (61) (21)
Net cash used in investing activities (1,242) (377)
Cash flows from financing activities    
Proceeds from issuance of Preferred Stock   125,358
Payment of issuance costs on Series B-2 Preferred Stock   (332)
Proceeds from issuance of common stock upon exercise of options 2,943 655
Proceeds from grants repayable 716 4,046
Net cash provided by financing activities 3,659 340,339
Effects of exchange rate changes on cash, cash equivalents and restricted cash (3,176) 1,678
Net increase (decrease) in cash, cash equivalents and restricted cash 512,381 316,464
Cash, cash equivalents and restricted cash at beginning of year 336,454 19,990
Cash, cash equivalents and restricted cash at end of year 848,835 336,454
Non-cash investing and financing activities    
Conversion of redeemable convertible preferred stock to common stock upon closing of the initial public offering 181,903
Capital expenditure included in accounts payable 175  
Accretion of Series B and B-2 Preferred Stock to redemption value 5,120
Settlement of preferred stock tranche right 4,135
Operating lease liabilities arising from obtaining right-of-use assets (non-cash) 5,877  
Supplemental disclosure of cash flows    
Cash paid for taxes $ 32,019 108
Series B-2 Preferred Stock    
Cash flows from financing activities    
Proceeds from initial public offering, net of underwriting discount   213,660
Payment of initial public offering costs   $ (3,048)