XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (27,747) $ (16,101)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development assets 8,000
Share-based compensation expense 6,202 538
Depreciation expense 6 5
Amortization of operating right-of-use assets 47 44
Non-cash interest expense 7
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 422 (2,542)
Deposits and other long-term assets 4 (26)
Accounts payable (1,043) 484
Accrued expenses and other current liabilities 595 (101)
Operating lease liabilities (49) (51)
Net cash used in operating activities (21,563) (9,743)
Cash flows from investing activities    
Cash paid for acquired in-process research and development assets (8,000)
Property and equipment expenditures (15)
Cash used in investing activities (15) (8,000)
Cash flows from financing activities    
Proceeds from issuance of Series B redeemable convertible preferred shares, net of issuance costs 129,757
Payments of financing issuance costs (872)
Net cash provided by financing activities 128,885
Net increase (decrease) in cash and cash equivalents (21,578) 111,142
Cash and cash equivalents, beginning of period 284,309 43,728
Cash and cash equivalents, end of period 262,731 154,870
Supplemental disclosures of noncash activities    
Deferred offering costs not yet paid $ 686