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Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:          
Net loss $ (18,096) $ (11,352) $ (36,355) $ (20,651)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     655 268  
Accretion and amortization of marketable securities, net     (92) 302  
Amortization of right-of-use assets     384    
Stock-based compensation expense     5,043 1,731  
Fair value adjustment of contingent stock liability       735  
Changes in operating assets and liabilities:          
Prepaid and other current assets     (2,382) (2,986)  
Other assets     (7) (75)  
Accounts payable     (84) 497  
Accrued expenses     (553) 150  
Operating lease liability     (262)    
Other liabilities     93    
Net cash used in operating activities     (33,560) (20,029) $ (40,000)
Cash flows from investing activities:          
Purchases of property and equipment     (2,433) (522)  
Purchases of marketable securities     (87,983) (174,844)  
Maturities of marketable securities     130,771 76,564  
Net cash provided by (used in) investing activities     40,355 (98,802)  
Cash flows from financing activities:          
Proceeds from isuance of common stock       139,523  
Common stock issuance costs   (12,858,764)      
Payment of partial settlement of contingent stock liability       (277)  
Proceeds from exercise of stock options     32 28  
Net cash provided by financing activities     109 137,539  
Net increase in cash and cash equivalents     6,904 18,708  
Cash and cash equivalents at beginning of period     18,614 17,589 17,589
Cash and cash equivalents at end of period $ 25,518 $ 36,297 25,518 36,297 $ 18,614
Supplemental disclosure of non-cash investing and financing activities:          
Property and equipment additions included in accounts payable and accrued expenses     174 72  
Deferred issuance costs included in accounts payable and accrued expenses       634  
Issuance of shares of common stock in partial settlement of conttingent stock liability accrued expenses       831  
2021 Employee Stock Purchase Plan          
Cash flows from financing activities:          
Proceeds from isuance of common stock     $ 77    
Common Stock          
Cash flows from financing activities:          
Common stock issuance costs       $ (1,735)