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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (32,349) $ (19,558)
Adjustments to reconcile net loss to net cash used by operating activities:    
Stock-based compensation expense 2,482 767
Non-cash operating lease expense 447 (17)
Change in fair value of the related party antidilution obligation   836
Change in fair value of Series A preferred stock tranche obligation   28
Depreciation and amortization 36 1
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (235) 666
Other non-current assets 789 (37)
Accounts payable (2,390) 3,166
Accrued expenses and other current liabilities (473) 3,221
Operating lease liabilities (444)  
Net cash used in operating activities (32,137) (10,927)
Cash flows from investing activities:    
Purchases of property and equipment (233) (70)
Net cash used in investing activities (233) (70)
Cash flows from financing activities:    
Proceeds from issuance of preferred stock, net of issuance costs   19,925
Proceeds from issuance of common stock upon initial public offering, net of offering costs 89,872  
Payments of finance lease obligations (21) (20)
Proceeds from stock option exercised 11  
Net cash provided by financing activities 89,862 19,905
Net increase in cash and cash equivalents 57,492 8,908
Cash, cash equivalents and restricted cash at beginning of period 92,347 24,151
Cash, cash equivalents and restricted cash at end of period 149,839 33,059
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of Series A & Series B Preferred Stock to common stock, net of Issuance costs 161,939  
Deferred offering costs paid in the prior year 1,887  
Purchases of property and equipment included in accounts payable and accrued expenses 129  
Settlement of related party antidilution obligation   5,083
Settlement of Series A preferred stock tranche obligation   331
Right-of-use assets obtained in exchange for operating lease liabilities $ 77 534
Right-of-use assets obtained in exchange for financing lease liabilities   104
Offering costs included in accounts payable and accrued expenses   $ 46