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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Net loss $ (36,794) $ (20,100)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,657 1,492
Depreciation and amortization 685 209
Accretion on debt   1,578
Accretion on marketable securities 615  
Fair value adjustments on embedded debt derivatives   (995)
Interest on capital lease 57 12
Gain on fixed asset disposal (29)  
Issuance of common stock for Alvaxa acquisition   541
Gain on debt extinguishment (567) (45)
Changes in operating assets and liabilities:    
Prepaid expenses 828 (1,124)
Other assets (327) 361
Accounts payable and accrued liabilities (1,426) 335
Accrued interest   53
Compensation and employee benefits 837 (271)
Other liabilities 205 249
Net cash used in operating activities (30,259) (17,705)
Investing activities    
Purchases of property and equipment (2,026) (1,206)
Proceeds from property and equipment disposals 318  
Purchases of short-term investments (183,669)  
Sales of short-term investments 11,259  
Maturities of short-term investments 31,000  
Alvaxa IPR&D acquisition   (197)
Net cash used in investing activities (143,118) (1,403)
Financing activities    
Proceeds from the PPP loan   567
Proceeds from the exercise of common stock warrants and options 29 20
Deferred offering costs   (2,105)
Purchases Related to Employee Stock Purchase Plan 80  
Capital lease payments (255) (41)
'Proceeds on the from issuance of common stock upon initial public offering, net of issuance costs 140,594  
Net cash provided by financing activities 163,940 35,453
Net (decrease) increase in cash and cash equivalents (9,437) 16,345
Cash and cash equivalents at beginning of period 16,596 251
Cash and cash equivalents at end of period 7,159 16,596
Supplemental disclosure of noncash financing information:    
Property and equipment additions included in accounts payable and accrued liabilities   204
Deferred offering costs included in accounts payable and accrued liabilities   1,207
Interest on financing 57 12
Convertible preferred stock issued in exchange for note redemption   18,050
Conversion of Series A, B, C, D, E, F Convertible Preferred Stock into Common Stock    
Supplemental disclosure of noncash financing information:    
Conversion of stock   47,545
Conversion Of Series AA and BB Convertible Preferred Stock Into Common Stock Member    
Supplemental disclosure of noncash financing information:    
Conversion of stock 95,826  
Conversion of Common Stock into Series AA Convertible Preferred Stock    
Supplemental disclosure of noncash financing information:    
Conversion of stock   17,274
Series AA Convertible Preferred Stock    
Financing activities    
Proceeds on the issuance of convertible preferred stock   26,087
Series BB Convertible Preferred Stock    
Financing activities    
Proceeds on the issuance of convertible preferred stock $ 23,492 $ 10,925