XML 47 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net loss $ (95,402) $ (35,853) $ (29,855)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,330 1,008 860
Loss on disposal of property and equipment 4 0 3
Change in fair value of derivative liability 0 1,581 63
Change in fair value of profits interest liability 0 (6,852) (6,403)
Loss/(gain) on extinguishment of debt (690) 2,883 0
Stock-based compensation 25,117 3,022 0
Non-cash interest 0 525 355
Accrued interest 3 864 1,276
Deferred rent 0 (150) 230
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (237) (1,273) 939
Accounts payable and accrued expenses 7,992 (1,660) 3,218
Accounts payable and accrued expenses—related parties 0 0 (88)
Deferred revenue 0 (429) 19,757
Right-of-use assets and lease liabilities, net (331) 0 0
Net cash used in operating activities (62,214) (36,334) (9,645)
Cash flows from investing activities      
Purchases of property and equipment (924) (590) (1,509)
Net cash used in investing activities (924) (590) (1,509)
Cash flows from financing activities      
Noncontrolling interest 0 (19) (5)
Proceeds from issuance of convertible debt 0 2,750 4,000
Proceeds from issuance of convertible preferred stock, net of issuance costs 0 68,183 0
Proceeds from issuance of PPP loan 0 682 0
Proceeds from initial public offering, net of issuance costs 0 200,229 0
Payment of initial public offering costs (1,911) 0 0
Proceeds from issuance of common stock 70,994 0 0
Proceeds from exercise of stock options 140 0 0
Proceeds from issuance of common stock under Employee Stock Purchase Plan 289 0 0
Net cash provided by financing activities 69,512 271,825 3,995
Net increase (decrease) in cash and cash equivalents 6,374 234,901 (7,159)
Cash and cash equivalents, beginning of period 238,605 3,704 10,863
Cash and cash equivalents, end of period 244,979 238,605 3,704
Supplemental disclosure of non-cash investing and financing activities      
Property and equipment additions included in accounts payable and accrued expenses 1 17 172
Fair value of warrants issued by affiliates in connection with modification of convertible promissory notes 0 0 764
Assumption of profits interest liability by affiliates 0 991 997
Equity issuance costs included in accounts payable and accrued expenses 0 1,911 0
Carrying value of convertible promissory notes settled in connection with Corporate Reorganization 0 27,711 0
Fair value of consideration issued in connection with settlement of convertible promissory notes 0 30,594 0
Tax related to net settlement of equity awards included in accounts payable and accrued expenses $ 291 $ 0 $ 0