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DE
86-2083865
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Ste 3388
Dallas
TX
75201
254
244-5739
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Nature of the Business </div><div id="a20629" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Vaxxinity,<div style="display:inline-block;width:7px"> </div>Inc.,<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>Delaware corporation<div style="display:inline-block;width:6px"> </div>(“Vaxxinity<div style="display:inline-block;width:1px"> </div>,”<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>together<div style="display:inline-block;width:5px"> </div>with<div style="display:inline-block;width:5px"> </div>its<div style="display:inline-block;width:5px"> </div>subsidiaries,<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>“Company”), was<div style="display:inline-block;width:6px"> </div>formed<div style="display:inline-block;width:5px"> </div>through<div style="display:inline-block;width:5px"> </div>the </div><div id="a20634" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">combination of two<div style="display:inline-block;width:5px"> </div>separate businesses that<div style="display:inline-block;width:5px"> </div>originated from United<div style="display:inline-block;width:5px"> </div>Biomedical, Inc. (“UBI”)<div style="display:inline-block;width:5px"> </div>in two separate<div style="display:inline-block;width:5px"> </div>transactions: a spin-out </div><div id="a20638" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">from UBI<div style="display:inline-block;width:2px"> </div>in 2014<div style="display:inline-block;width:2px"> </div>of operations<div style="display:inline-block;width:2px"> </div>focused on<div style="display:inline-block;width:2px"> </div>developing chronic<div style="display:inline-block;width:2px"> </div>disease product<div style="display:inline-block;width:2px"> </div>candidates that<div style="display:inline-block;width:2px"> </div>resulted in<div style="display:inline-block;width:2px"> </div>United Neuroscience<div style="display:inline-block;width:2px"> </div>(“UNS”), </div><div id="a20640" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">and a second spin-out from UBI in<div style="display:inline-block;width:5px"> </div>2020 of operations focused on the development<div style="display:inline-block;width:5px"> </div>of a COVID-19 vaccine that resulted in<div style="display:inline-block;width:5px"> </div>C19 Corp. </div><div id="a20647" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">(“COVAXX”).<div style="display:inline-block;width:5px"> </div>On February 2, 2021, Vaxxinity<div style="display:inline-block;width:6px"> </div>was incorporated for the purpose of reorganizing<div style="display:inline-block;width:5px"> </div>and combining UNS and COVAXX </div><div id="a20652" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">and on March 2, 2021, did so by acquiring all of the outstanding equity interests of UNS and COVAXX<div style="display:inline-block;width:5px"> </div>pursuant to a contribution and </div><div id="a20656" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">exchange<div style="display:inline-block;width:6px"> </div>agreement<div style="display:inline-block;width:6px"> </div>(the<div style="display:inline-block;width:6px"> </div>“Contribution<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>Exchange<div style="display:inline-block;width:6px"> </div>Agreement”)<div style="display:inline-block;width:6px"> </div>whereby<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>existing<div style="display:inline-block;width:6px"> </div>equity<div style="display:inline-block;width:6px"> </div>holders<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>UNS<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>COVAXX </div><div id="a20658" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">contributed their equity interests in each of UNS and COVAXX in exchange for equity in Vaxxinity<div style="display:inline-block;width:5px"> </div>(the “Reorganization”). </div><div id="a20661" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">The Company is a<div style="display:inline-block;width:2px"> </div>biotechnology company currently focused<div style="display:inline-block;width:2px"> </div>on developing product candidates<div style="display:inline-block;width:2px"> </div>for human use in<div style="display:inline-block;width:2px"> </div>the fields of neurology </div><div id="a20663" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">and coronaviruses utilizing<div style="display:inline-block;width:1px"> </div>its “Vaxxine Platform”—a peptide vaccine<div style="display:inline-block;width:2px"> </div>technology first developed<div style="display:inline-block;width:1px"> </div>by UBI and<div style="display:inline-block;width:2px"> </div>subsequently refined<div style="display:inline-block;width:2px"> </div>over </div><div id="a20666" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">the<div style="display:inline-block;width:5px"> </div>last<div style="display:inline-block;width:5px"> </div>two<div style="display:inline-block;width:5px"> </div>decades.<div style="display:inline-block;width:5px"> </div>The<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>is<div style="display:inline-block;width:5px"> </div>engaged<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>development<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>commercialization<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>rationally<div style="display:inline-block;width:5px"> </div>designed<div style="display:inline-block;width:5px"> </div>prophylactic<div style="display:inline-block;width:5px"> </div>and </div><div id="a20668" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">therapeutic vaccines to combat chronic disorders<div style="display:inline-block;width:2px"> </div>and infectious diseases with large patient populations<div style="display:inline-block;width:2px"> </div>and unmet medical need. UBI is </div><div id="a20671" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">a significant shareholder of the Company and, therefore, considered a related party. </div><div id="a20675" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">The Company is<div style="display:inline-block;width:5px"> </div>subject to risks<div style="display:inline-block;width:5px"> </div>and uncertainties common<div style="display:inline-block;width:5px"> </div>to early-stage companies<div style="display:inline-block;width:5px"> </div>in the biotechnology<div style="display:inline-block;width:5px"> </div>industry including, but<div style="display:inline-block;width:5px"> </div>not </div><div id="a20678" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">limited<div style="display:inline-block;width:6px"> </div>to,<div style="display:inline-block;width:6px"> </div>uncertainty<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>product<div style="display:inline-block;width:6px"> </div>development<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>commercialization,<div style="display:inline-block;width:6px"> </div>lack<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>marketing<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>sales<div style="display:inline-block;width:6px"> </div>history,<div style="display:inline-block;width:7px"> </div>development<div style="display:inline-block;width:6px"> </div>by<div style="display:inline-block;width:6px"> </div>its </div><div id="a20681" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">competitors of<div style="display:inline-block;width:2px"> </div>new technological<div style="display:inline-block;width:2px"> </div>innovations, dependence<div style="display:inline-block;width:2px"> </div>on key<div style="display:inline-block;width:2px"> </div>personnel, market<div style="display:inline-block;width:2px"> </div>acceptance of<div style="display:inline-block;width:2px"> </div>products, product<div style="display:inline-block;width:2px"> </div>liability, protection </div><div id="a20683" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:307px;">of proprietary technology,<div style="display:inline-block;width:5px"> </div>ability to raise additional financing, and compliance<div style="display:inline-block;width:5px"> </div>with government regulations. If the Company does<div style="display:inline-block;width:5px"> </div>not </div><div id="a20685" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:322px;">successfully commercialize any<div style="display:inline-block;width:1px"> </div>of its product<div style="display:inline-block;width:2px"> </div>candidates, it will<div style="display:inline-block;width:2px"> </div>be unable to<div style="display:inline-block;width:2px"> </div>generate recurring product<div style="display:inline-block;width:2px"> </div>revenue or achieve<div style="display:inline-block;width:2px"> </div>profitability. </div><div id="a20689" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:353px;">The<div style="display:inline-block;width:6px"> </div>Company’s<div style="display:inline-block;width:6px"> </div>product<div style="display:inline-block;width:6px"> </div>candidates<div style="display:inline-block;width:6px"> </div>are<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:6px"> </div>development<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>will<div style="display:inline-block;width:6px"> </div>require<div style="display:inline-block;width:6px"> </div>significant<div style="display:inline-block;width:6px"> </div>additional<div style="display:inline-block;width:6px"> </div>research<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>development<div style="display:inline-block;width:6px"> </div>efforts, </div><div id="a20691" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:368px;">including extensive pre-clinical<div style="display:inline-block;width:2px"> </div>and clinical testing and<div style="display:inline-block;width:2px"> </div>regulatory approval prior to<div style="display:inline-block;width:2px"> </div>commercialization. These efforts require<div style="display:inline-block;width:2px"> </div>significant </div><div id="a20694" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:383px;">amounts of additional capital,<div style="display:inline-block;width:5px"> </div>adequate personnel and infrastructure<div style="display:inline-block;width:5px"> </div>and extensive compliance-reporting capabilities.<div style="display:inline-block;width:5px"> </div>There can be<div style="display:inline-block;width:5px"> </div>no </div><div id="a20698" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:399px;">assurance that<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:5px"> </div>research and<div style="display:inline-block;width:5px"> </div>development will<div style="display:inline-block;width:5px"> </div>be successfully<div style="display:inline-block;width:5px"> </div>completed, that<div style="display:inline-block;width:5px"> </div>adequate protection for<div style="display:inline-block;width:5px"> </div>the Company’s </div><div id="a20700" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:414px;">intellectual property<div style="display:inline-block;width:5px"> </div>will be<div style="display:inline-block;width:5px"> </div>obtained, that<div style="display:inline-block;width:5px"> </div>any products<div style="display:inline-block;width:5px"> </div>developed will<div style="display:inline-block;width:5px"> </div>obtain necessary<div style="display:inline-block;width:5px"> </div>government regulatory<div style="display:inline-block;width:5px"> </div>approval or<div style="display:inline-block;width:5px"> </div>that any </div><div id="a20702" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:429px;">approved products will<div style="display:inline-block;width:2px"> </div>be commercially viable.<div style="display:inline-block;width:2px"> </div>Even if the<div style="display:inline-block;width:2px"> </div>Company’s product development efforts are<div style="display:inline-block;width:2px"> </div>successful, it is<div style="display:inline-block;width:2px"> </div>uncertain when, </div><div id="a20704" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:445px;">if ever, the Company will generate significant revenue<div style="display:inline-block;width:2px"> </div>from product sales. The Company<div style="display:inline-block;width:2px"> </div>operates in an environment of rapid<div style="display:inline-block;width:2px"> </div>change in </div><div id="a20706" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:460px;">technology and is dependent upon the services of its employees and consultants. </div><div id="a20709" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#231F20;left:4px;top:494px;">Contribution and Exchange Agreement</div><div id="a20712" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:528px;">On March<div style="display:inline-block;width:5px"> </div>2, 2021,<div style="display:inline-block;width:5px"> </div>in accordance<div style="display:inline-block;width:5px"> </div>with the<div style="display:inline-block;width:5px"> </div>Contribution and<div style="display:inline-block;width:5px"> </div>Exchange Agreement,<div style="display:inline-block;width:5px"> </div>(i) all<div style="display:inline-block;width:5px"> </div>outstanding shares<div style="display:inline-block;width:5px"> </div>of UNS<div style="display:inline-block;width:5px"> </div>and COVAXX </div><div id="a20714" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:544px;">preferred stock<div style="display:inline-block;width:2px"> </div>and common<div style="display:inline-block;width:2px"> </div>stock were<div style="display:inline-block;width:2px"> </div>contributed to<div style="display:inline-block;width:2px"> </div>Vaxxinity and exchanged for<div style="display:inline-block;width:2px"> </div>like shares<div style="display:inline-block;width:2px"> </div>of stock<div style="display:inline-block;width:2px"> </div>in Vaxxinity, (ii) the outstanding </div><div id="a20716" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:559px;">options to purchase<div style="display:inline-block;width:5px"> </div>shares of UNS<div style="display:inline-block;width:5px"> </div>and COVAXX<div style="display:inline-block;width:6px"> </div>common stock were<div style="display:inline-block;width:5px"> </div>terminated and substituted<div style="display:inline-block;width:5px"> </div>with options to<div style="display:inline-block;width:5px"> </div>purchase shares of </div><div id="a20718" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:574px;">common stock in Vaxxinity,<div style="display:inline-block;width:5px"> </div>(iii) the outstanding warrant to purchase shares<div style="display:inline-block;width:2px"> </div>of COVAXX common stock was cancelled and exchanged </div><div id="a20720" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:590px;">for a warrant to acquire common stock in<div style="display:inline-block;width:2px"> </div>Vaxxinity and (iv) each outstanding Reorganization Convertible Note (as defined below) was </div><div id="a20722" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:605px;">contributed to Vaxxinity and the holders of such notes received Series A preferred stock in Vaxxinity.<div style="display:inline-block;width:6px"> </div>In particular: </div><div id="a20725" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:28px;top:639px;">•</div><div id="a20727" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:639px;">Each UNS common share and convertible preferred share was exchanged for 0.2191 shares of Vaxxinity common stock or </div><div id="a20729" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:654px;">Series A preferred stock, as applicable; </div><div id="a20732" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:28px;top:685px;">•</div><div id="a20734" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:685px;">Each share of COVAXX<div style="display:inline-block;width:5px"> </div>common and convertible preferred stock was exchanged for </div><div id="a20734_78_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:512px;top:685px;">3.4233</div><div id="a20734_84_28" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:548px;top:685px;"><div style="display:inline-block;width:3px"> </div>shares of Vaxxinity common </div><div id="a20735" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:700px;">stock or Series A preferred stock, as applicable (and prior to the closing of the Reorganization, all the holders of outstanding </div><div id="a20737" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:715px;">COVAXX<div style="display:inline-block;width:5px"> </div>SAFEs agreed to convert such SAFEs into shares of Series A-3 preferred stock of COVAXX, which shares were </div><div id="a20740" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:731px;">then exchanged for shares of Vaxxinity’s<div style="display:inline-block;width:5px"> </div>Series A preferred stock); </div><div id="a20744" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:28px;top:761px;">•</div><div id="a20746" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:761px;">The Reorganization Convertible Notes were exchanged for an aggregate of </div><div id="a20746_72_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:456px;top:761px;">4,047,344</div><div id="a20746_81_32" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:509px;top:761px;"><div style="display:inline-block;width:3px"> </div>shares of Vaxxinity’s<div style="display:inline-block;width:5px"> </div>Series A </div><div id="a20750" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:777px;">preferred stock; and </div><div id="a20753" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:28px;top:807px;">•</div><div id="a20755" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:807px;">Each outstanding option of both UNS and COVAXX to purchase common shares of UNS or COVAXX<div style="display:inline-block;width:6px"> </div>was terminated and </div><div id="a20758" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:823px;">substituted with an option to purchase shares of Class A common stock of Vaxxinity.<div style="display:inline-block;width:5px"> </div>Each outstanding UNS option was </div><div id="a20759" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:838px;">exchanged based on a conversion ratio of </div><div id="a20759_41_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:276px;top:838px;">0.2191</div><div id="a20759_47_69" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:313px;top:838px;">. Each outstanding COVAXX<div style="display:inline-block;width:5px"> </div>option was exchanged based on a conversion </div><div id="a20761" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:52px;top:853px;">ratio of </div><div id="a20761_9_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:95px;top:853px;">3.4233</div><div id="a20761_15_2" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:131px;top:853px;">. </div></div><div id="TextBlockContainer1530" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:923px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20772" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">All parties<div style="display:inline-block;width:6px"> </div>to the<div style="display:inline-block;width:6px"> </div>Contribution and<div style="display:inline-block;width:6px"> </div>Exchange Agreement<div style="display:inline-block;width:6px"> </div>intend that<div style="display:inline-block;width:6px"> </div>the contribution<div style="display:inline-block;width:6px"> </div>of outstanding<div style="display:inline-block;width:6px"> </div>equity interests<div style="display:inline-block;width:5px"> </div>to Vaxxinity<div style="display:inline-block;width:7px"> </div>in </div><div id="a20774" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">exchange for<div style="display:inline-block;width:5px"> </div>Vaxxinity’s<div style="display:inline-block;width:7px"> </div>common stock<div style="display:inline-block;width:5px"> </div>and preferred<div style="display:inline-block;width:5px"> </div>stock will<div style="display:inline-block;width:5px"> </div>be treated<div style="display:inline-block;width:5px"> </div>as an<div style="display:inline-block;width:5px"> </div>integrated transaction<div style="display:inline-block;width:5px"> </div>for U.S.<div style="display:inline-block;width:5px"> </div>federal income<div style="display:inline-block;width:5px"> </div>tax </div><div id="a20777" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">purposes that is governed by Section 351(a) of the Internal Revenue Code of 1986, as amended. </div><div id="a20780" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">The Reorganization was<div style="display:inline-block;width:5px"> </div>determined to be<div style="display:inline-block;width:5px"> </div>a common control<div style="display:inline-block;width:5px"> </div>transaction, so the<div style="display:inline-block;width:5px"> </div>carrying values of<div style="display:inline-block;width:5px"> </div>all contributed assets<div style="display:inline-block;width:5px"> </div>and assumed </div><div id="a20782" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">liabilities<div style="display:inline-block;width:7px"> </div>remained<div style="display:inline-block;width:7px"> </div>unchanged<div style="display:inline-block;width:7px"> </div>and<div style="display:inline-block;width:7px"> </div>the<div style="display:inline-block;width:7px"> </div>financial<div style="display:inline-block;width:7px"> </div>information<div style="display:inline-block;width:7px"> </div>for<div style="display:inline-block;width:7px"> </div>all<div style="display:inline-block;width:7px"> </div>periods<div style="display:inline-block;width:7px"> </div>in<div style="display:inline-block;width:7px"> </div>the<div style="display:inline-block;width:7px"> </div>financial<div style="display:inline-block;width:7px"> </div>statements<div style="display:inline-block;width:7px"> </div>presented<div style="display:inline-block;width:7px"> </div>prior<div style="display:inline-block;width:7px"> </div>to<div style="display:inline-block;width:7px"> </div>the </div><div id="a20784" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">Reorganization are presented on a consolidated basis. </div><div id="a20787" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:126px;">Reverse Stock Split<div style="display:inline-block;width:3px"> </div></div><div id="a20790" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:163px;">On October 29, 2021,<div style="display:inline-block;width:5px"> </div>the Company effectuated<div style="display:inline-block;width:5px"> </div>a reverse stock split<div style="display:inline-block;width:5px"> </div>of 1-for-</div><div id="a20790_76_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:421px;top:163px;">1.556</div><div id="a20790_81_50" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:451px;top:163px;"><div style="display:inline-block;width:4px"> </div>(the “Stock Split”) of<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:5px"> </div>Class A and </div><div id="a20796" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:178px;">Class B common stock<div style="display:inline-block;width:5px"> </div>pursuant to an amendment<div style="display:inline-block;width:5px"> </div>to the Company’s<div style="display:inline-block;width:5px"> </div>Amended and Restated Certificate<div style="display:inline-block;width:5px"> </div>of Incorporation approved by </div><div id="a20797" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:193px;">the Company’s<div style="display:inline-block;width:5px"> </div>board of directors<div style="display:inline-block;width:5px"> </div>and stockholders. As a<div style="display:inline-block;width:5px"> </div>result of the<div style="display:inline-block;width:5px"> </div>Stock Split, the<div style="display:inline-block;width:5px"> </div>Company also adjusted<div style="display:inline-block;width:5px"> </div>the share and<div style="display:inline-block;width:5px"> </div>per share </div><div id="a20799" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:209px;">amounts<div style="display:inline-block;width:5px"> </div>associated<div style="display:inline-block;width:5px"> </div>with<div style="display:inline-block;width:5px"> </div>its<div style="display:inline-block;width:5px"> </div>options<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>warrants<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>purchase<div style="display:inline-block;width:5px"> </div>shares<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>its<div style="display:inline-block;width:5px"> </div>common<div style="display:inline-block;width:5px"> </div>stock.<div style="display:inline-block;width:5px"> </div>These<div style="display:inline-block;width:5px"> </div>consolidated<div style="display:inline-block;width:5px"> </div>financial<div style="display:inline-block;width:5px"> </div>statements </div><div id="a20801" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:224px;">including the notes have been retroactively adjusted<div style="display:inline-block;width:2px"> </div>to reflect the Stock Split for all<div style="display:inline-block;width:2px"> </div>periods presented. Any fractional shares that<div style="display:inline-block;width:2px"> </div>would </div><div id="a20803" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:239px;">have resulted from the Stock Split have been rounded down to the nearest whole share.<div style="display:inline-block;width:3px"> </div></div><div id="a20806" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:273px;">Initial Public Offering</div><div id="a20809" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:309px;">On November 15, 2021, the Company closed its IPO of </div><div id="a20809_52_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:304px;top:309px;">6,000,000</div><div id="a20809_61_63" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:358px;top:309px;"><div style="display:inline-block;width:3px"> </div>shares of Class A common stock at a public offering price of $</div><div id="a20809_124_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:694px;top:309px;">13.00</div><div id="a20811" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:324px;">per share. On November 18, 2021<div style="display:inline-block;width:5px"> </div>the Company held a subsequent closing<div style="display:inline-block;width:5px"> </div>for the issuance of an<div style="display:inline-block;width:5px"> </div>additional </div><div id="a20811_104_7" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:583px;top:324px;">537,711</div><div id="a20811_111_19" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:627px;top:324px;"><div style="display:inline-block;width:4px"> </div>shares of Class A </div><div id="a20813" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:340px;">common stock<div style="display:inline-block;width:2px"> </div>pursuant to<div style="display:inline-block;width:2px"> </div>a 30-day<div style="display:inline-block;width:2px"> </div>option granted<div style="display:inline-block;width:2px"> </div>to the<div style="display:inline-block;width:2px"> </div>underwriters to<div style="display:inline-block;width:2px"> </div>purchase up<div style="display:inline-block;width:2px"> </div>to an<div style="display:inline-block;width:2px"> </div>additional </div><div id="a20813_101_7" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:538px;top:340px;">900,000</div><div id="a20813_108_26" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:582px;top:340px;"><div style="display:inline-block;width:3px"> </div>shares of<div style="display:inline-block;width:2px"> </div>Class A<div style="display:inline-block;width:2px"> </div>common </div><div id="a20817" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:355px;">stock at<div style="display:inline-block;width:5px"> </div>the IPO<div style="display:inline-block;width:5px"> </div>price, less<div style="display:inline-block;width:5px"> </div>underwriting discounts<div style="display:inline-block;width:5px"> </div>and commissions.<div style="display:inline-block;width:5px"> </div>The aggregate<div style="display:inline-block;width:5px"> </div>net proceeds<div style="display:inline-block;width:5px"> </div>to the<div style="display:inline-block;width:5px"> </div>Company from<div style="display:inline-block;width:5px"> </div>the offering, </div><div id="a20819" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:370px;">after deducting<div style="display:inline-block;width:2px"> </div>underwriting discounts<div style="display:inline-block;width:2px"> </div>and commissions<div style="display:inline-block;width:2px"> </div>and other<div style="display:inline-block;width:2px"> </div>offering expenses payable<div style="display:inline-block;width:1px"> </div>by the Company, was<div style="display:inline-block;width:1px"> </div>approximately $</div><div id="a20819_126_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:370px;">71.1</div><div id="a20821" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:386px;">million. Upon the closing of the IPO, all previously outstanding shares of the<div style="display:inline-block;width:5px"> </div>Company’s redeemable convertible preferred stock were </div><div id="a20823" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:401px;">automatically converted at the same ratio used for the Stock Split (1-for-</div><div id="a20823_74_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:391px;top:401px;">1.556</div><div id="a20823_79_43" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:421px;top:401px;">) into shares of its Class A common stock. </div><div id="a20831" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:432px;">Liquidity </div><div id="a20834" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:462px;">As of December 31, 2021, the Company<div style="display:inline-block;width:2px"> </div>had $144.9 million of cash and cash<div style="display:inline-block;width:2px"> </div>equivalents. To date, the Company has primarily financed </div><div id="a20838" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:478px;">its operations<div style="display:inline-block;width:6px"> </div>through the<div style="display:inline-block;width:6px"> </div>sale of<div style="display:inline-block;width:6px"> </div>convertible preferred<div style="display:inline-block;width:6px"> </div>stock and<div style="display:inline-block;width:6px"> </div>common stock<div style="display:inline-block;width:6px"> </div>and borrowings<div style="display:inline-block;width:6px"> </div>under promissory<div style="display:inline-block;width:6px"> </div>notes (including </div><div id="a20840" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:493px;">Convertible Notes), a portion<div style="display:inline-block;width:5px"> </div>of which has been<div style="display:inline-block;width:5px"> </div>raised from related party<div style="display:inline-block;width:5px"> </div>entities. The Company has<div style="display:inline-block;width:5px"> </div>experienced significant negative </div><div id="a20842" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:508px;">cash flows from operations since<div style="display:inline-block;width:5px"> </div>inception, and incurred a net<div style="display:inline-block;width:5px"> </div>loss of $137.2 million for<div style="display:inline-block;width:5px"> </div>the year ended December 31, 2021.<div style="display:inline-block;width:5px"> </div>Net cash </div><div id="a20844" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:524px;">used in<div style="display:inline-block;width:2px"> </div>operating activities<div style="display:inline-block;width:2px"> </div>for the<div style="display:inline-block;width:2px"> </div>year ended<div style="display:inline-block;width:2px"> </div>December 31,<div style="display:inline-block;width:2px"> </div>2021 was<div style="display:inline-block;width:2px"> </div>$81.0 million.<div style="display:inline-block;width:4px"> </div>In addition,<div style="display:inline-block;width:2px"> </div>as of<div style="display:inline-block;width:2px"> </div>December 31, 2021,<div style="display:inline-block;width:2px"> </div>the Company </div><div id="a20849" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:539px;">has an accumulated deficit of $229.5 million. The Company expects to incur substantial operating losses and negative cash flows from </div><div id="a20851" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:554px;">operations for<div style="display:inline-block;width:5px"> </div>the foreseeable<div style="display:inline-block;width:5px"> </div>future. As<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>date these<div style="display:inline-block;width:5px"> </div>financial statements<div style="display:inline-block;width:5px"> </div>were available<div style="display:inline-block;width:5px"> </div>to be<div style="display:inline-block;width:5px"> </div>issued, the<div style="display:inline-block;width:5px"> </div>Company expects<div style="display:inline-block;width:5px"> </div>its </div><div id="a20853" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:570px;">existing cash and<div style="display:inline-block;width:5px"> </div>cash equivalents to<div style="display:inline-block;width:5px"> </div>be sufficient to<div style="display:inline-block;width:5px"> </div>fund its operating<div style="display:inline-block;width:5px"> </div>expenses and capital<div style="display:inline-block;width:5px"> </div>expenditure requirements for<div style="display:inline-block;width:5px"> </div>at least the </div><div id="a20855" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:585px;">next 12 months. </div><div id="a20858" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:616px;">The Company will need to obtain additional funding beyond the period that is 12 months from the date these financial statements were </div><div id="a20860" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:631px;">available to be issued<div style="display:inline-block;width:2px"> </div>whether through collaboration<div style="display:inline-block;width:2px"> </div>agreements, private or<div style="display:inline-block;width:2px"> </div>public equity or debt<div style="display:inline-block;width:2px"> </div>offerings or a combination<div style="display:inline-block;width:2px"> </div>thereof, and </div><div id="a20862" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:646px;">such<div style="display:inline-block;width:5px"> </div>additional funding<div style="display:inline-block;width:6px"> </div>may not<div style="display:inline-block;width:6px"> </div>be<div style="display:inline-block;width:5px"> </div>available on<div style="display:inline-block;width:6px"> </div>terms the<div style="display:inline-block;width:6px"> </div>Company finds<div style="display:inline-block;width:6px"> </div>acceptable or<div style="display:inline-block;width:6px"> </div>at<div style="display:inline-block;width:5px"> </div>all. If<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:5px"> </div>Company is<div style="display:inline-block;width:6px"> </div>unable<div style="display:inline-block;width:5px"> </div>to obtain </div><div id="a20865" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:662px;">sufficient capital<div style="display:inline-block;width:5px"> </div>to continue<div style="display:inline-block;width:5px"> </div>to advance<div style="display:inline-block;width:5px"> </div>its programs,<div style="display:inline-block;width:5px"> </div>the Company<div style="display:inline-block;width:5px"> </div>would be<div style="display:inline-block;width:5px"> </div>forced to<div style="display:inline-block;width:5px"> </div>delay,<div style="display:inline-block;width:5px"> </div>limit, reduce<div style="display:inline-block;width:5px"> </div>or terminate<div style="display:inline-block;width:5px"> </div>its product </div><div id="a20867" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:677px;">development<div style="display:inline-block;width:5px"> </div>or<div style="display:inline-block;width:5px"> </div>future<div style="display:inline-block;width:5px"> </div>commercialization<div style="display:inline-block;width:5px"> </div>efforts<div style="display:inline-block;width:5px"> </div>or<div style="display:inline-block;width:5px"> </div>grant<div style="display:inline-block;width:5px"> </div>rights<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>third<div style="display:inline-block;width:5px"> </div>parties<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>develop<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>market<div style="display:inline-block;width:5px"> </div>product<div style="display:inline-block;width:5px"> </div>candidates<div style="display:inline-block;width:5px"> </div>that<div style="display:inline-block;width:5px"> </div>the </div><div id="a20869" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:692px;">Company would otherwise prefer to develop and market itself. </div><div id="a20872" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:723px;">The accompanying consolidated financial statements have been prepared on a<div style="display:inline-block;width:5px"> </div>going concern basis, which contemplates the realization </div><div id="a20874" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:738px;">of<div style="display:inline-block;width:5px"> </div>assets and<div style="display:inline-block;width:6px"> </div>satisfaction of<div style="display:inline-block;width:6px"> </div>liabilities in<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:5px"> </div>ordinary<div style="display:inline-block;width:5px"> </div>course of<div style="display:inline-block;width:6px"> </div>business.<div style="display:inline-block;width:5px"> </div>The<div style="display:inline-block;width:5px"> </div>consolidated financial<div style="display:inline-block;width:6px"> </div>statements<div style="display:inline-block;width:5px"> </div>do<div style="display:inline-block;width:5px"> </div>not<div style="display:inline-block;width:5px"> </div>include<div style="display:inline-block;width:5px"> </div>any </div><div id="a20876" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:754px;">adjustments relating to the<div style="display:inline-block;width:2px"> </div>recoverability and classification<div style="display:inline-block;width:2px"> </div>of recorded asset amounts<div style="display:inline-block;width:2px"> </div>or the amounts and<div style="display:inline-block;width:2px"> </div>classification of liabilities<div style="display:inline-block;width:2px"> </div>that </div><div id="a20879" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:769px;">might result from the outcome of the uncertainties described above. </div><div id="a20882" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:800px;">Impact of COVID-19 Pandemic </div><div id="a20887" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:830px;">In March 2020, the World Health Organization declared the outbreak of a<div style="display:inline-block;width:2px"> </div>COVID-19 pandemic. The COVID-19 pandemic is<div style="display:inline-block;width:2px"> </div>evolving, </div><div id="a20896" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:846px;">and to date, has<div style="display:inline-block;width:2px"> </div>led to the implementation<div style="display:inline-block;width:2px"> </div>of various responses,<div style="display:inline-block;width:2px"> </div>including government-imposed quarantines,<div style="display:inline-block;width:2px"> </div>travel restrictions and<div style="display:inline-block;width:2px"> </div>other </div><div id="a20899" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:861px;">public health safety measures. </div><div id="a20902" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:892px;">The Company is closely monitoring the impact of<div style="display:inline-block;width:5px"> </div>the COVID-19 pandemic on all aspects of its business,<div style="display:inline-block;width:5px"> </div>including how it will impact </div><div id="a20906" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:907px;">its operations and<div style="display:inline-block;width:5px"> </div>the operations of<div style="display:inline-block;width:5px"> </div>its customers, suppliers,<div style="display:inline-block;width:5px"> </div>vendors and business<div style="display:inline-block;width:5px"> </div>partners. The Company<div style="display:inline-block;width:5px"> </div>does not yet<div style="display:inline-block;width:5px"> </div>know the<div style="display:inline-block;width:5px"> </div>full </div></div><div id="TextBlockContainer1532" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:200px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20916" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">extent of potential delays or impacts on its business, its clinical trials, its research programs, healthcare systems or<div style="display:inline-block;width:5px"> </div>the global economy </div><div id="a20918" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">and it cannot presently predict the scope and severity of any potential business shutdowns or disruptions. The extent to which </div><div id="a20922" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">COVID-19<div style="display:inline-block;width:5px"> </div>impacts its<div style="display:inline-block;width:6px"> </div>business, results<div style="display:inline-block;width:6px"> </div>of operation<div style="display:inline-block;width:6px"> </div>and financial<div style="display:inline-block;width:6px"> </div>condition will<div style="display:inline-block;width:6px"> </div>depend on<div style="display:inline-block;width:6px"> </div>future developments,<div style="display:inline-block;width:6px"> </div>which<div style="display:inline-block;width:5px"> </div>are highly </div><div id="a20926" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">uncertain and cannot be predicted with confidence, such as<div style="display:inline-block;width:5px"> </div>the duration of the outbreak, new information that may<div style="display:inline-block;width:5px"> </div>emerge concerning </div><div id="a20928" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">the severity of COVID-19 or<div style="display:inline-block;width:2px"> </div>the effectiveness of actions to contain<div style="display:inline-block;width:2px"> </div>COVID-19 or treat its impact,<div style="display:inline-block;width:2px"> </div>among others. If the Company<div style="display:inline-block;width:2px"> </div>or any </div><div id="a20934" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">of the third parties with whom the Company engages, however,<div style="display:inline-block;width:5px"> </div>were to experience shutdowns or other business disruptions, its ability </div><div id="a20936" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">to conduct its business<div style="display:inline-block;width:5px"> </div>in the manner and<div style="display:inline-block;width:5px"> </div>on the timelines presently planned<div style="display:inline-block;width:5px"> </div>could be materially and negatively<div style="display:inline-block;width:5px"> </div>affected, which could </div><div id="a20939" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">have a material adverse impact on its business, results of operation and financial condition. </div><div id="a20942" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">The Company has not incurred impairment losses<div style="display:inline-block;width:2px"> </div>in the carrying values of its assets<div style="display:inline-block;width:2px"> </div>as a result of the COVID-19 pandemic<div style="display:inline-block;width:2px"> </div>and it is not </div><div id="a20946" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">aware of any specific related event or circumstance that would require it to revise its estimates reflected in these consolidated financial </div><div id="a20949" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">statements.</div></div>
3.4233
4047344
0.2191
3.4233
1.556
6000000
13.00
537711
900000
71.1
1.556
<div id="TextBlockContainer1544" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:706px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20952" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">2. Summary of Significant Accounting Policies </div><div id="div_1534_XBRL_TS_19bf865a9be849f58be8d168d572172b" style="position:absolute;left:0px;top:31px;float:left;"><div id="TextBlockContainer1535" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:129px;height:15px;display:inline-block;"><div id="a20956" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Basis of presentation</div></div></div><div id="a20959" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">The accompanying consolidated financial statements have<div style="display:inline-block;width:5px"> </div>been prepared using generally accepted<div style="display:inline-block;width:5px"> </div>accounting principles in the United </div><div id="a20961" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">States of America (GAAP)<div style="display:inline-block;width:2px"> </div>and pursuant to the<div style="display:inline-block;width:2px"> </div>rules and regulations of<div style="display:inline-block;width:2px"> </div>the United States Securities<div style="display:inline-block;width:2px"> </div>and Exchange Commission (“SEC”) </div><div id="a20963" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">for financial reporting. The consolidated<div style="display:inline-block;width:2px"> </div>financial statements for the periods<div style="display:inline-block;width:2px"> </div>presented include the accounts of<div style="display:inline-block;width:2px"> </div>UNS and COVAXX that </div><div id="a20965" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">were parties to the Contribution and Exchange Agreement. All share and per share amounts, as<div style="display:inline-block;width:2px"> </div>originally recorded by each entity, have </div><div id="a20967" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">been converted<div style="display:inline-block;width:2px"> </div>to a<div style="display:inline-block;width:2px"> </div>number of<div style="display:inline-block;width:2px"> </div>shares and<div style="display:inline-block;width:2px"> </div>per share<div style="display:inline-block;width:2px"> </div>amounts using<div style="display:inline-block;width:2px"> </div>the conversion<div style="display:inline-block;width:2px"> </div>ratios determined<div style="display:inline-block;width:2px"> </div>under the<div style="display:inline-block;width:2px"> </div>Contribution and<div style="display:inline-block;width:2px"> </div>Exchange </div><div id="a20969" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">Agreement and the Stock Split ratio.<div style="display:inline-block;width:3px"> </div></div><div id="div_1536_XBRL_TS_369079c78bde458e99ce404c96602928" style="position:absolute;left:0px;top:169px;float:left;"><div id="TextBlockContainer1537" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:107px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20973" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Foreign currency translation </div><div id="a20976" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The<div style="display:inline-block;width:5px"> </div>Company’s<div style="display:inline-block;width:6px"> </div>consolidated<div style="display:inline-block;width:5px"> </div>financial<div style="display:inline-block;width:5px"> </div>statements<div style="display:inline-block;width:5px"> </div>are<div style="display:inline-block;width:5px"> </div>prepared<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>U.S.<div style="display:inline-block;width:5px"> </div>dollars.<div style="display:inline-block;width:5px"> </div>Its<div style="display:inline-block;width:5px"> </div>foreign<div style="display:inline-block;width:5px"> </div>subsidiaries<div style="display:inline-block;width:5px"> </div>use<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>U.S.<div style="display:inline-block;width:5px"> </div>dollar<div style="display:inline-block;width:5px"> </div>as<div style="display:inline-block;width:5px"> </div>their </div><div id="a20979" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">functional currency<div style="display:inline-block;width:5px"> </div>and maintain<div style="display:inline-block;width:5px"> </div>their records<div style="display:inline-block;width:5px"> </div>in the<div style="display:inline-block;width:5px"> </div>local currency.<div style="display:inline-block;width:6px"> </div>Nonmonetary assets<div style="display:inline-block;width:5px"> </div>and liabilities<div style="display:inline-block;width:5px"> </div>are re-measured<div style="display:inline-block;width:5px"> </div>at historical </div><div id="a20983" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">rates and monetary assets and liabilities are<div style="display:inline-block;width:2px"> </div>re-measured at exchange rates in effect at the end<div style="display:inline-block;width:2px"> </div>of the reporting period. Income statement </div><div id="a20988" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">accounts are<div style="display:inline-block;width:2px"> </div>re-measured at<div style="display:inline-block;width:2px"> </div>average exchange<div style="display:inline-block;width:1px"> </div>rates for<div style="display:inline-block;width:2px"> </div>the reporting<div style="display:inline-block;width:2px"> </div>period. The<div style="display:inline-block;width:2px"> </div>resulting gains<div style="display:inline-block;width:2px"> </div>or losses<div style="display:inline-block;width:2px"> </div>are included<div style="display:inline-block;width:2px"> </div>in foreign<div style="display:inline-block;width:2px"> </div>currency </div><div id="a20994" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">(losses) gains in the consolidated statements of operations.</div></div></div><div id="div_1538_XBRL_TS_8abe593d130441b28613b136c164b684" style="position:absolute;left:0px;top:291px;float:left;"><div id="TextBlockContainer1539" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20997" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Segment information </div><div id="a21000" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Operating segments are<div style="display:inline-block;width:5px"> </div>defined as components<div style="display:inline-block;width:5px"> </div>of an<div style="display:inline-block;width:5px"> </div>entity for which<div style="display:inline-block;width:5px"> </div>separate financial information<div style="display:inline-block;width:5px"> </div>is available and<div style="display:inline-block;width:5px"> </div>that is<div style="display:inline-block;width:5px"> </div>regularly </div><div id="a21002" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">reviewed by<div style="display:inline-block;width:5px"> </div>the Chief<div style="display:inline-block;width:5px"> </div>Operating Decision<div style="display:inline-block;width:5px"> </div>Maker (“CODM”)<div style="display:inline-block;width:5px"> </div>in deciding<div style="display:inline-block;width:5px"> </div>how to<div style="display:inline-block;width:5px"> </div>allocate resources<div style="display:inline-block;width:5px"> </div>to an<div style="display:inline-block;width:5px"> </div>individual segment<div style="display:inline-block;width:5px"> </div>and in </div><div id="a21004" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">assessing performance. The Company’s<div style="display:inline-block;width:5px"> </div>CODM is its Chief Executive Officer<div style="display:inline-block;width:5px"> </div>(“CEO”). The Company has determined that<div style="display:inline-block;width:5px"> </div>it operates </div><div id="a21006" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">as a single operating segment and has one reportable segment.</div></div></div><div id="div_1540_XBRL_TS_2eefb7d9865147ce9ab285358d129670" style="position:absolute;left:0px;top:399px;float:left;"><div id="TextBlockContainer1541" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:169px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21009" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Use of estimates </div><div id="a21012" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The preparation of consolidated<div style="display:inline-block;width:2px"> </div>financial statements in accordance<div style="display:inline-block;width:2px"> </div>with GAAP requires the Company’s management to<div style="display:inline-block;width:2px"> </div>make estimates </div><div id="a21014" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">and assumptions that affect the reported amounts of assets and liabilities and<div style="display:inline-block;width:2px"> </div>disclosure of contingent assets and liabilities at the date of </div><div id="a21016" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">the consolidated financial statements and the reported amounts of expenses during<div style="display:inline-block;width:2px"> </div>the reporting period. Significant estimates contained </div><div id="a21020" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">within these consolidated financial statements include, but are not limited to, the estimated fair value of the Company’s common<div style="display:inline-block;width:5px"> </div>stock </div><div id="a21022" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">and convertible notes payable, simple agreements for future equity, warrant liabilities, stock-based compensation, income tax valuation </div><div id="a21026" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">allowance and the<div style="display:inline-block;width:5px"> </div>accruals of research<div style="display:inline-block;width:5px"> </div>and development expenses.<div style="display:inline-block;width:5px"> </div>The Company bases<div style="display:inline-block;width:5px"> </div>its estimates on<div style="display:inline-block;width:5px"> </div>historical experience, known </div><div id="a21028" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">trends and other market-specific<div style="display:inline-block;width:2px"> </div>or other relevant factors that<div style="display:inline-block;width:2px"> </div>it believes to be reasonable<div style="display:inline-block;width:2px"> </div>under the circumstances. On<div style="display:inline-block;width:2px"> </div>an ongoing basis, </div><div id="a21034" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">management evaluates<div style="display:inline-block;width:5px"> </div>its estimates,<div style="display:inline-block;width:5px"> </div>as there<div style="display:inline-block;width:5px"> </div>are changes<div style="display:inline-block;width:5px"> </div>in facts<div style="display:inline-block;width:5px"> </div>and circumstances.<div style="display:inline-block;width:5px"> </div>Actual results<div style="display:inline-block;width:5px"> </div>may differ<div style="display:inline-block;width:5px"> </div>materially from<div style="display:inline-block;width:5px"> </div>those </div><div id="a21036" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">estimates or assumptions.</div></div></div><div id="div_1542_XBRL_TS_3ed22d9c1f314de79939d2da85cac15c" style="position:absolute;left:0px;top:583px;float:left;"><div id="TextBlockContainer1543" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:108px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21039" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Cash and cash equivalents </div><div id="a21042" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company considers all highly liquid investments with an original maturity of three months or less at the time of initial purchase to </div><div id="a21044" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">be<div style="display:inline-block;width:5px"> </div>cash equivalents,<div style="display:inline-block;width:6px"> </div>including balances<div style="display:inline-block;width:6px"> </div>held<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:7px"> </div>money market<div style="display:inline-block;width:6px"> </div>accounts. The<div style="display:inline-block;width:6px"> </div>Company<div style="display:inline-block;width:5px"> </div>maintains its<div style="display:inline-block;width:6px"> </div>cash<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>cash </div><div id="a21047" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">equivalents with financial institutions, in<div style="display:inline-block;width:2px"> </div>which balances from time to<div style="display:inline-block;width:2px"> </div>time may exceed the U.S.<div style="display:inline-block;width:2px"> </div>federally insured limits. The<div style="display:inline-block;width:2px"> </div>objectives </div><div id="a21049" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">of the Company’s cash management policy<div style="display:inline-block;width:5px"> </div>are to safeguard and preserve funds to maintain liquidity sufficient<div style="display:inline-block;width:5px"> </div>to meet the Company’s </div><div id="a21051" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">cash flow requirements, and to attain a market rate of return.</div></div></div></div><div id="TextBlockContainer1548" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:97px;height:16px;display:inline-block;"><div id="div_1546_XBRL_TS_6e2a3b3f5c11410f9d95981f5a791121" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1547" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:97px;height:16px;display:inline-block;"><div id="a21064" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Restricted cash</div></div></div></div><div id="TextBlockContainer1562" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:415px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1556_XBRL_TS_f10c15d3a8724e3d9bfa94b6e0740c95" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1557" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:200px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21137" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Concentration of credit risk </div><div id="a21140" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Financial instruments<div style="display:inline-block;width:2px"> </div>that potentially<div style="display:inline-block;width:2px"> </div>expose the<div style="display:inline-block;width:2px"> </div>Company to<div style="display:inline-block;width:2px"> </div>concentrations of<div style="display:inline-block;width:2px"> </div>credit risk<div style="display:inline-block;width:2px"> </div>consist primarily<div style="display:inline-block;width:2px"> </div>of cash<div style="display:inline-block;width:2px"> </div>and cash<div style="display:inline-block;width:2px"> </div>equivalents. </div><div id="a21143" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">Cash equivalents are<div style="display:inline-block;width:2px"> </div>occasionally invested in<div style="display:inline-block;width:2px"> </div>certificates of deposit.<div style="display:inline-block;width:2px"> </div>The Company maintains<div style="display:inline-block;width:2px"> </div>each of its<div style="display:inline-block;width:2px"> </div>cash balances with<div style="display:inline-block;width:2px"> </div>high-quality </div><div id="a21147" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">and accredited financial<div style="display:inline-block;width:5px"> </div>institutions and<div style="display:inline-block;width:5px"> </div>accordingly,<div style="display:inline-block;width:5px"> </div>such funds<div style="display:inline-block;width:5px"> </div>are not<div style="display:inline-block;width:5px"> </div>exposed to unusual<div style="display:inline-block;width:5px"> </div>credit risk<div style="display:inline-block;width:5px"> </div>beyond the<div style="display:inline-block;width:5px"> </div>normal credit<div style="display:inline-block;width:5px"> </div>risk </div><div id="a21149" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">associated with<div style="display:inline-block;width:5px"> </div>commercial banking<div style="display:inline-block;width:5px"> </div>relationships. The<div style="display:inline-block;width:5px"> </div>Company maintains<div style="display:inline-block;width:5px"> </div>a portion<div style="display:inline-block;width:5px"> </div>of its<div style="display:inline-block;width:5px"> </div>cash and<div style="display:inline-block;width:5px"> </div>cash equivalent<div style="display:inline-block;width:5px"> </div>balances in<div style="display:inline-block;width:5px"> </div>the </div><div id="a21154" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">form of a money market account with a financial institution that management believes to be creditworthy.<div style="display:inline-block;width:3px"> </div></div><div id="a21162" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">The Company is dependent on contract manufacturers, several of whom are considered to be related parties, for manufacturing, quality </div><div id="a21172" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">control,<div style="display:inline-block;width:7px"> </div>testing,<div style="display:inline-block;width:7px"> </div>validation<div style="display:inline-block;width:7px"> </div>and<div style="display:inline-block;width:7px"> </div>supply<div style="display:inline-block;width:7px"> </div>services,<div style="display:inline-block;width:7px"> </div>including<div style="display:inline-block;width:7px"> </div>production,<div style="display:inline-block;width:7px"> </div>including<div style="display:inline-block;width:7px"> </div>production<div style="display:inline-block;width:7px"> </div>and<div style="display:inline-block;width:7px"> </div>shipment<div style="display:inline-block;width:7px"> </div>of<div style="display:inline-block;width:7px"> </div>its<div style="display:inline-block;width:7px"> </div>enzyme-linked </div><div id="a21175" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">immunosorbent assay (“ELISA”) tests, and for research<div style="display:inline-block;width:2px"> </div>and development and clinical activities. The Company’s future revenue as<div style="display:inline-block;width:2px"> </div>well </div><div id="a21177" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">as research and<div style="display:inline-block;width:5px"> </div>development programs could<div style="display:inline-block;width:5px"> </div>be adversely affected<div style="display:inline-block;width:5px"> </div>by a significant<div style="display:inline-block;width:5px"> </div>supply interruption by<div style="display:inline-block;width:5px"> </div>one or more<div style="display:inline-block;width:5px"> </div>of its contract </div><div id="a21179" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">manufacturers.</div></div></div><div id="div_1558_XBRL_TS_010e9752e3dd4fbc93bf45dc1d2be7a6" style="position:absolute;left:0px;top:215px;float:left;"><div id="TextBlockContainer1559" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:123px;height:16px;display:inline-block;"><div id="a21182" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Accounts receivable</div></div></div><div id="a21185" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">The<div style="display:inline-block;width:5px"> </div>Company’s<div style="display:inline-block;width:6px"> </div>trade<div style="display:inline-block;width:5px"> </div>accounts<div style="display:inline-block;width:5px"> </div>receivable<div style="display:inline-block;width:5px"> </div>consist<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>amounts<div style="display:inline-block;width:5px"> </div>due<div style="display:inline-block;width:5px"> </div>from<div style="display:inline-block;width:5px"> </div>distributors.<div style="display:inline-block;width:5px"> </div>The<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>reserves<div style="display:inline-block;width:5px"> </div>against<div style="display:inline-block;width:5px"> </div>trade<div style="display:inline-block;width:5px"> </div>accounts </div><div id="a21187" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">receivable for estimated<div style="display:inline-block;width:5px"> </div>losses that may<div style="display:inline-block;width:5px"> </div>arise from a<div style="display:inline-block;width:5px"> </div>customer’s inability to<div style="display:inline-block;width:5px"> </div>pay,<div style="display:inline-block;width:5px"> </div>and any amounts<div style="display:inline-block;width:5px"> </div>determined to be<div style="display:inline-block;width:5px"> </div>uncollectible are </div><div id="a21189" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">written off<div style="display:inline-block;width:6px"> </div>against the<div style="display:inline-block;width:5px"> </div>reserve when<div style="display:inline-block;width:5px"> </div>it is<div style="display:inline-block;width:5px"> </div>probable that<div style="display:inline-block;width:5px"> </div>the receivable<div style="display:inline-block;width:5px"> </div>will not<div style="display:inline-block;width:5px"> </div>be collected.<div style="display:inline-block;width:5px"> </div>As of<div style="display:inline-block;width:5px"> </div>December 31,<div style="display:inline-block;width:5px"> </div>2021 and<div style="display:inline-block;width:5px"> </div>2020, the </div><div id="a21192" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">Company has not recorded any allowance for bad debts against the trade accounts receivable. </div><div id="div_1560_XBRL_TS_45e4a9b2006e4cc29b804a505b1b1aba" style="position:absolute;left:0px;top:322px;float:left;"><div id="TextBlockContainer1561" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21195" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Property and equipment </div><div id="a21198" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Property and equipment are<div style="display:inline-block;width:5px"> </div>stated at cost,<div style="display:inline-block;width:5px"> </div>less accumulated depreciation. Depreciation<div style="display:inline-block;width:5px"> </div>is computed on<div style="display:inline-block;width:5px"> </div>the straight-line basis over<div style="display:inline-block;width:5px"> </div>the </div><div id="a21203" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">estimated useful life of the assets. </div><div id="a21206" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">The estimated useful life of property and equipment is as follows:</div></div></div></div><div id="TextBlockContainer1572" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1570_XBRL_TS_89a8b18aed124adcbd47b54ea268d69d" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1571" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:46px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21241" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">Upon retirement or sale, the cost of assets<div style="display:inline-block;width:2px"> </div>disposed of and the related accumulated depreciation<div style="display:inline-block;width:2px"> </div>are removed from the accounts and any </div><div id="a21243" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">resulting gain or<div style="display:inline-block;width:5px"> </div>loss is included<div style="display:inline-block;width:5px"> </div>in gain or<div style="display:inline-block;width:5px"> </div>loss from operations.<div style="display:inline-block;width:5px"> </div>Expenditures for repairs<div style="display:inline-block;width:5px"> </div>and maintenance are<div style="display:inline-block;width:5px"> </div>charged to expense<div style="display:inline-block;width:5px"> </div>as </div><div id="a21247" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">incurred.</div></div></div></div><div id="TextBlockContainer1584" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:892px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1574_XBRL_TS_7445c9dd567f426e9bfec3c87e5d0478" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1575" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:169px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21258" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Impairment of long-lived assets </div><div id="a21263" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Long-lived<div style="display:inline-block;width:6px"> </div>assets,<div style="display:inline-block;width:6px"> </div>comprised<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>property<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>equipment,<div style="display:inline-block;width:6px"> </div>are<div style="display:inline-block;width:6px"> </div>tested<div style="display:inline-block;width:6px"> </div>for<div style="display:inline-block;width:6px"> </div>recoverability<div style="display:inline-block;width:6px"> </div>whenever<div style="display:inline-block;width:6px"> </div>events<div style="display:inline-block;width:6px"> </div>or<div style="display:inline-block;width:6px"> </div>changes<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:6px"> </div>business </div><div id="a21268" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">circumstances indicate<div style="display:inline-block;width:6px"> </div>that<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>carrying<div style="display:inline-block;width:5px"> </div>amount<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>assets<div style="display:inline-block;width:5px"> </div>may<div style="display:inline-block;width:5px"> </div>not<div style="display:inline-block;width:5px"> </div>be<div style="display:inline-block;width:5px"> </div>fully<div style="display:inline-block;width:5px"> </div>recoverable.<div style="display:inline-block;width:5px"> </div>Factors<div style="display:inline-block;width:5px"> </div>that<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>considers<div style="display:inline-block;width:5px"> </div>in </div><div id="a21270" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">deciding<div style="display:inline-block;width:5px"> </div>when<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>perform<div style="display:inline-block;width:5px"> </div>an<div style="display:inline-block;width:5px"> </div>impairment<div style="display:inline-block;width:5px"> </div>review<div style="display:inline-block;width:5px"> </div>include<div style="display:inline-block;width:5px"> </div>significant<div style="display:inline-block;width:5px"> </div>underperformance<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>business<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>relation<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>expectations, </div><div id="a21272" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">significant negative industry or<div style="display:inline-block;width:5px"> </div>economic trends and significant<div style="display:inline-block;width:5px"> </div>changes or planned changes<div style="display:inline-block;width:5px"> </div>in the use of<div style="display:inline-block;width:5px"> </div>the assets. If an<div style="display:inline-block;width:5px"> </div>impairment </div><div id="a21276" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">review<div style="display:inline-block;width:5px"> </div>is<div style="display:inline-block;width:5px"> </div>performed<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>evaluate<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>long-lived<div style="display:inline-block;width:5px"> </div>asset<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>recoverability,<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>compares<div style="display:inline-block;width:5px"> </div>forecasts<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>undiscounted<div style="display:inline-block;width:5px"> </div>cash<div style="display:inline-block;width:5px"> </div>flows </div><div id="a21279" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">expected to<div style="display:inline-block;width:6px"> </div>result from<div style="display:inline-block;width:6px"> </div>the use<div style="display:inline-block;width:6px"> </div>and eventual<div style="display:inline-block;width:6px"> </div>disposition of<div style="display:inline-block;width:6px"> </div>the long-lived<div style="display:inline-block;width:6px"> </div>asset to<div style="display:inline-block;width:6px"> </div>its carrying<div style="display:inline-block;width:6px"> </div>value. An<div style="display:inline-block;width:6px"> </div>impairment loss<div style="display:inline-block;width:6px"> </div>would be </div><div id="a21284" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">recognized when estimated undiscounted future cash flows expected to result from the use of an asset<div style="display:inline-block;width:2px"> </div>are less than its carrying amount. </div><div id="a21286" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">The impairment loss would be<div style="display:inline-block;width:5px"> </div>based on the excess of<div style="display:inline-block;width:5px"> </div>the carrying value of the<div style="display:inline-block;width:5px"> </div>impaired asset over its fair value,<div style="display:inline-block;width:5px"> </div>determined based on </div><div id="a21289" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">discounted cash flows. To date, the Company has not recorded any impairment losses or disposals on long-lived assets.</div></div></div><div id="div_1576_XBRL_TS_a677ff004834470bb34a2a695724cc9c" style="position:absolute;left:0px;top:184px;float:left;"><div id="TextBlockContainer1577" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:140px;height:16px;display:inline-block;"><div id="a21294" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Deferred offering costs</div></div></div><div id="a21297" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">The Company capitalizes certain<div style="display:inline-block;width:2px"> </div>legal, audit, accounting and<div style="display:inline-block;width:2px"> </div>other third-party fees that<div style="display:inline-block;width:2px"> </div>are directly associated<div style="display:inline-block;width:2px"> </div>with an in-process capital </div><div id="a21303" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">financing effort<div style="display:inline-block;width:5px"> </div>as deferred offering<div style="display:inline-block;width:5px"> </div>costs until such<div style="display:inline-block;width:5px"> </div>financing is consummated.<div style="display:inline-block;width:5px"> </div>After consummation of<div style="display:inline-block;width:5px"> </div>the financing, these<div style="display:inline-block;width:5px"> </div>costs are </div><div id="a21305" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">recorded<div style="display:inline-block;width:5px"> </div>as<div style="display:inline-block;width:5px"> </div>a reduction<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:5px"> </div>additional paid-in<div style="display:inline-block;width:6px"> </div>capital generated<div style="display:inline-block;width:6px"> </div>as<div style="display:inline-block;width:5px"> </div>a result<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:5px"> </div>the financing.<div style="display:inline-block;width:6px"> </div>Should<div style="display:inline-block;width:5px"> </div>the financing<div style="display:inline-block;width:6px"> </div>be abandoned,<div style="display:inline-block;width:6px"> </div>the </div><div id="a21310" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">deferred offering costs are expensed immediately as a charge to operating expenses in the statement of operations.<div style="display:inline-block;width:3px"> </div></div><div id="div_1578_XBRL_TS_4181c4f0bfd24945a72ff065716a4374" style="position:absolute;left:0px;top:291px;float:left;"><div id="TextBlockContainer1579" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:276px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21313" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Fair value measurements </div><div id="a21317" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Certain assets and liabilities<div style="display:inline-block;width:2px"> </div>are carried at fair value<div style="display:inline-block;width:2px"> </div>under GAAP. Fair value is defined as the exchange<div style="display:inline-block;width:2px"> </div>price that would be received<div style="display:inline-block;width:2px"> </div>for </div><div id="a21319" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">an asset or paid to transfer a liability (an<div style="display:inline-block;width:5px"> </div>exit price) in the principal or most advantageous market for<div style="display:inline-block;width:5px"> </div>the asset or liability in an orderly </div><div id="a21321" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">transaction between market participants on the measurement date. Valuation<div style="display:inline-block;width:6px"> </div>techniques used to measure fair value must maximize<div style="display:inline-block;width:5px"> </div>the </div><div id="a21323" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">use of observable inputs and minimize the </div><div id="a21326" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following </div><div id="a21328" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: </div><div id="a21332" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">Level 1—Quoted prices in active markets that are identical assets or liabilities. </div><div id="a21338" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">Level 2—Observable inputs (other than Level 1<div style="display:inline-block;width:5px"> </div>quoted prices), such as quoted prices<div style="display:inline-block;width:5px"> </div>in active markets for similar assets<div style="display:inline-block;width:5px"> </div>or liabilities, </div><div id="a21342" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">quoted prices<div style="display:inline-block;width:5px"> </div>in markets<div style="display:inline-block;width:5px"> </div>that are<div style="display:inline-block;width:5px"> </div>not active<div style="display:inline-block;width:5px"> </div>for identical<div style="display:inline-block;width:5px"> </div>or similar<div style="display:inline-block;width:5px"> </div>assets or<div style="display:inline-block;width:5px"> </div>liabilities, or<div style="display:inline-block;width:5px"> </div>other inputs<div style="display:inline-block;width:5px"> </div>that are<div style="display:inline-block;width:5px"> </div>observable or<div style="display:inline-block;width:6px"> </div>can be </div><div id="a21344" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">corroborated by observable market data. </div><div id="a21347" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">Level 3—Unobservable inputs that are supported by<div style="display:inline-block;width:5px"> </div>little or no market activity that<div style="display:inline-block;width:5px"> </div>are significant to determining the fair<div style="display:inline-block;width:5px"> </div>value of the </div><div id="a21351" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.</div></div></div><div id="a21354" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:583px;">Prior to the conversion in accordance<div style="display:inline-block;width:2px"> </div>with the Contribution and Exchange Agreement,<div style="display:inline-block;width:2px"> </div>the majority of the Company’s convertible notes </div><div id="a21357" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:598px;">and all of the simple agreement<div style="display:inline-block;width:2px"> </div>for future equity (“SAFE”) and<div style="display:inline-block;width:2px"> </div>warrant liabilities were carried at<div style="display:inline-block;width:2px"> </div>fair value and were classified<div style="display:inline-block;width:2px"> </div>as Level </div><div id="a21360" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:613px;">3 liabilities. </div><div id="div_1580_XBRL_TS_8892095e72ba44cc9a60c0d70b8082cd" style="position:absolute;left:0px;top:644px;float:left;"><div id="TextBlockContainer1581" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:108px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21363" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Convertible notes payable </div><div id="a21366" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company issued<div style="display:inline-block;width:5px"> </div>convertible notes payable<div style="display:inline-block;width:5px"> </div>at various times<div style="display:inline-block;width:5px"> </div>from 2014 to<div style="display:inline-block;width:5px"> </div>2021. The Company<div style="display:inline-block;width:5px"> </div>accounts for the<div style="display:inline-block;width:5px"> </div>convertible notes </div><div id="a21370" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">payable at fair value in accordance with ASC 480, Distinguishing Liabilities from Equity (“ASC 480”). The notes payable with related </div><div id="a21372" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">parties are<div style="display:inline-block;width:5px"> </div>accounted for<div style="display:inline-block;width:5px"> </div>as straight<div style="display:inline-block;width:5px"> </div>debt under<div style="display:inline-block;width:5px"> </div>ASC 470,<div style="display:inline-block;width:5px"> </div>Debt (“ASC<div style="display:inline-block;width:5px"> </div>470”). The<div style="display:inline-block;width:5px"> </div>Company has<div style="display:inline-block;width:5px"> </div>elected to<div style="display:inline-block;width:5px"> </div>separate interest<div style="display:inline-block;width:5px"> </div>expense </div><div id="a21376" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">from the<div style="display:inline-block;width:2px"> </div>full change<div style="display:inline-block;width:2px"> </div>in fair<div style="display:inline-block;width:2px"> </div>value of<div style="display:inline-block;width:2px"> </div>the convertible<div style="display:inline-block;width:2px"> </div>notes. Debt<div style="display:inline-block;width:2px"> </div>issuance costs<div style="display:inline-block;width:2px"> </div>incurred by<div style="display:inline-block;width:2px"> </div>the Company<div style="display:inline-block;width:2px"> </div>are amortized<div style="display:inline-block;width:2px"> </div>to interest expense </div><div id="a21378" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">over the term of the convertible notes using the effective interest method in the accompanying consolidated statements of operations.</div></div></div><div id="a21382" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:767px;">On March 2, 2021, each convertible note that was outstanding was exchanged for shares of Series A preferred stock (see<div style="display:inline-block;width:2px"> </div>Note 8). </div><div id="div_1582_XBRL_TS_72f5d6e391c44799bcc59daab4ffc9fa" style="position:absolute;left:0px;top:799px;float:left;"><div id="TextBlockContainer1583" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:77px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21386" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Debt issuance costs </div><div id="a21389" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company records<div style="display:inline-block;width:5px"> </div>debt issuance costs<div style="display:inline-block;width:5px"> </div>as a reduction<div style="display:inline-block;width:5px"> </div>to the<div style="display:inline-block;width:5px"> </div>carrying value of<div style="display:inline-block;width:5px"> </div>the debt. The<div style="display:inline-block;width:5px"> </div>debt discounts are<div style="display:inline-block;width:5px"> </div>amortized over the </div><div id="a21391" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">term of the debt using<div style="display:inline-block;width:5px"> </div>the effective interest method and recognized<div style="display:inline-block;width:5px"> </div>as interest expense in the accompanying<div style="display:inline-block;width:5px"> </div>consolidated statement of </div><div id="a21393" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">operations.</div></div></div></div><div id="TextBlockContainer1594" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:876px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1586_XBRL_TS_bad59f6c8e7748f6b455f68b7005d826" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1587" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21404" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Simple Agreement for Future Equity—SAFE </div><div id="a21410" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company accounts for SAFEs at<div style="display:inline-block;width:5px"> </div>fair value in accordance with ASC<div style="display:inline-block;width:5px"> </div>480. The SAFEs are subject to<div style="display:inline-block;width:5px"> </div>revaluation at the end of each </div><div id="a21412" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">reporting period, with changes in fair value recognized in the accompanying consolidated statements of operations. </div><div id="a21416" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">On March 2, 2021,<div style="display:inline-block;width:2px"> </div>each SAFE that<div style="display:inline-block;width:2px"> </div>was outstanding was converted<div style="display:inline-block;width:2px"> </div>into shares of the<div style="display:inline-block;width:2px"> </div>Company’s Series A preferred stock<div style="display:inline-block;width:2px"> </div>(see Note 11).</div></div></div><div id="div_1588_XBRL_TS_a3b136062ded41a989195d4b4adfbc15" style="position:absolute;left:0px;top:109px;float:left;"><div id="TextBlockContainer1589" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:78px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21420" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Classification of convertible preferred stock </div><div id="a21423" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company<div style="display:inline-block;width:2px"> </div>records all<div style="display:inline-block;width:2px"> </div>convertible preferred<div style="display:inline-block;width:2px"> </div>stock at<div style="display:inline-block;width:2px"> </div>its original<div style="display:inline-block;width:2px"> </div>issuance price,<div style="display:inline-block;width:2px"> </div>less direct<div style="display:inline-block;width:2px"> </div>and incremental<div style="display:inline-block;width:2px"> </div>issuance costs,<div style="display:inline-block;width:2px"> </div>as stipulated </div><div id="a21425" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">by its terms. The Company’s convertible preferred stock is classified<div style="display:inline-block;width:2px"> </div>outside of stockholders’ deficit because the<div style="display:inline-block;width:2px"> </div>holders of such shares </div><div id="a21428" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">have liquidation rights in the event of a deemed liquidation that, in certain situations, are not solely within the control of the Company.</div></div></div><div id="a21432" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:201px;">All shares<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>Company’s<div style="display:inline-block;width:5px"> </div>Series A<div style="display:inline-block;width:5px"> </div>and Series<div style="display:inline-block;width:5px"> </div>B preferred<div style="display:inline-block;width:5px"> </div>stock converted<div style="display:inline-block;width:5px"> </div>into shares<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>Company’s<div style="display:inline-block;width:5px"> </div>Class A<div style="display:inline-block;width:5px"> </div>common stock </div><div id="a21434" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:216px;">concurrently with the closing of the initial public offering (see Note 10). </div><div id="div_1590_XBRL_TS_b798b43eb6b44d7a9907a1bb5ed18de7" style="position:absolute;left:0px;top:247px;float:left;"><div id="TextBlockContainer1591" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:446px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21437" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Revenue recognition </div><div id="a21440" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts With Customers (“ASC 606”). Under </div><div id="a21441" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or<div style="display:inline-block;width:5px"> </div>services, in an amount that reflects the </div><div id="a21443" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">consideration that<div style="display:inline-block;width:2px"> </div>the entity<div style="display:inline-block;width:2px"> </div>expects to be<div style="display:inline-block;width:1px"> </div>entitled to<div style="display:inline-block;width:2px"> </div>in exchange<div style="display:inline-block;width:2px"> </div>for those<div style="display:inline-block;width:2px"> </div>goods or services.<div style="display:inline-block;width:1px"> </div>The Company applies<div style="display:inline-block;width:1px"> </div>ASC 606 to<div style="display:inline-block;width:2px"> </div>contracts </div><div id="a21445" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">with customers only when it is probable that the entity will collect the consideration to which it is entitled in exchange for the goods or </div><div id="a21447" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">services it transfers to the customer. </div><div id="a21452" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">The Company assesses the<div style="display:inline-block;width:5px"> </div>goods or services promised<div style="display:inline-block;width:5px"> </div>within each contract and<div style="display:inline-block;width:5px"> </div>determines those that are<div style="display:inline-block;width:5px"> </div>performance obligations by </div><div id="a21454" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">evaluating<div style="display:inline-block;width:6px"> </div>whether<div style="display:inline-block;width:6px"> </div>each<div style="display:inline-block;width:6px"> </div>promised<div style="display:inline-block;width:6px"> </div>good<div style="display:inline-block;width:6px"> </div>or<div style="display:inline-block;width:6px"> </div>service<div style="display:inline-block;width:6px"> </div>is<div style="display:inline-block;width:6px"> </div>distinct.<div style="display:inline-block;width:6px"> </div>This<div style="display:inline-block;width:6px"> </div>assessment<div style="display:inline-block;width:6px"> </div>involves<div style="display:inline-block;width:6px"> </div>subjective<div style="display:inline-block;width:6px"> </div>determinations<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>requires </div><div id="a21456" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">management to make judgments about the individual promised goods or services, the intended benefit of<div style="display:inline-block;width:2px"> </div>the contract and whether each </div><div id="a21460" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">good or<div style="display:inline-block;width:6px"> </div>service is<div style="display:inline-block;width:5px"> </div>separately identifiable<div style="display:inline-block;width:5px"> </div>from the<div style="display:inline-block;width:6px"> </div>other aspects<div style="display:inline-block;width:6px"> </div>of the<div style="display:inline-block;width:6px"> </div>contractual relationship.<div style="display:inline-block;width:5px"> </div>If a<div style="display:inline-block;width:6px"> </div>promised good<div style="display:inline-block;width:5px"> </div>or service<div style="display:inline-block;width:6px"> </div>is not </div><div id="a21462" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">distinct, an entity is required to combine that good or service with other promised goods or services<div style="display:inline-block;width:2px"> </div>until it identifies a bundle of goods </div><div id="a21464" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">or services that is distinct. </div><div id="a21467" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">If the consideration promised in a contract includes a variable amount, the Company<div style="display:inline-block;width:5px"> </div>estimates the amount of consideration to which it </div><div id="a21469" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">will be<div style="display:inline-block;width:6px"> </div>entitled in<div style="display:inline-block;width:6px"> </div>exchange for<div style="display:inline-block;width:5px"> </div>transferring the<div style="display:inline-block;width:5px"> </div>promised goods<div style="display:inline-block;width:5px"> </div>or services<div style="display:inline-block;width:5px"> </div>to a<div style="display:inline-block;width:6px"> </div>customer.<div style="display:inline-block;width:5px"> </div>The Company<div style="display:inline-block;width:5px"> </div>determines the<div style="display:inline-block;width:5px"> </div>amount of </div><div id="a21471" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">variable consideration by using the most likely amount method and applies the constraint on variable consideration, which requires the </div><div id="a21473" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">amount included in the<div style="display:inline-block;width:2px"> </div>transaction price to be<div style="display:inline-block;width:2px"> </div>constrained to the amount<div style="display:inline-block;width:2px"> </div>for which it is<div style="display:inline-block;width:2px"> </div>probable that a significant<div style="display:inline-block;width:2px"> </div>reversal of cumulative </div><div id="a21477" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">revenue recognized<div style="display:inline-block;width:5px"> </div>will not<div style="display:inline-block;width:5px"> </div>occur.<div style="display:inline-block;width:5px"> </div>At the<div style="display:inline-block;width:5px"> </div>end of<div style="display:inline-block;width:5px"> </div>each subsequent<div style="display:inline-block;width:5px"> </div>reporting period,<div style="display:inline-block;width:5px"> </div>the Company<div style="display:inline-block;width:5px"> </div>re-evaluates the<div style="display:inline-block;width:5px"> </div>estimated variable </div><div id="a21480" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:307px;">consideration included in the transaction price<div style="display:inline-block;width:2px"> </div>and any related constraint, and if necessary, adjusts its estimate<div style="display:inline-block;width:2px"> </div>of the overall transaction </div><div id="a21483" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:322px;">price. </div><div id="a21486" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:353px;">The Company recognizes as revenue the<div style="display:inline-block;width:2px"> </div>amount of the transaction price that<div style="display:inline-block;width:2px"> </div>is allocated to the respective performance<div style="display:inline-block;width:2px"> </div>obligation when </div><div id="a21488" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:368px;">(or as) each performance obligation is satisfied, either at a<div style="display:inline-block;width:5px"> </div>point in time or over time, and, if over<div style="display:inline-block;width:5px"> </div>time, recognition is based on the use </div><div id="a21490" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:383px;">of an output or input method. In the Company’s sole revenue contract, the performance obligation was satisfied at the point in time the </div><div id="a21492" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:399px;">data and related samples were made available for the customer’s review. </div><div id="a21495" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:429px;">For its sales of ELISA tests, the Company recognizes revenue once control is transferred upon delivery to the customer.</div></div></div><div id="div_1592_XBRL_TS_0cb0310345374987864f728048c64734" style="position:absolute;left:0px;top:707px;float:left;"><div id="TextBlockContainer1593" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:154px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21498" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Taiwan Centers for Disease Control grant </div><div id="a21504" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">United<div style="display:inline-block;width:5px"> </div>Biomedical,<div style="display:inline-block;width:5px"> </div>Inc.,<div style="display:inline-block;width:5px"> </div>Asia<div style="display:inline-block;width:5px"> </div>(“UBI-Asia”),<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>related<div style="display:inline-block;width:5px"> </div>party<div style="display:inline-block;width:5px"> </div>through<div style="display:inline-block;width:5px"> </div>common<div style="display:inline-block;width:5px"> </div>ownership<div style="display:inline-block;width:5px"> </div>which<div style="display:inline-block;width:5px"> </div>is<div style="display:inline-block;width:5px"> </div>responsible<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>applying<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>and </div><div id="a21507" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">managing<div style="display:inline-block;width:5px"> </div>grants<div style="display:inline-block;width:5px"> </div>on<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company’s<div style="display:inline-block;width:6px"> </div>behalf,<div style="display:inline-block;width:5px"> </div>was<div style="display:inline-block;width:5px"> </div>awarded<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>grant<div style="display:inline-block;width:5px"> </div>by<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Taiwan<div style="display:inline-block;width:6px"> </div>Centers<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>Disease<div style="display:inline-block;width:5px"> </div>Control<div style="display:inline-block;width:5px"> </div>(“Taiwan<div style="display:inline-block;width:6px"> </div>CDC”)<div style="display:inline-block;width:5px"> </div>for </div><div id="a21509" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">COVID-19 vaccine development.<div style="display:inline-block;width:2px"> </div>UBI-Asia contracted with<div style="display:inline-block;width:2px"> </div>the Company to<div style="display:inline-block;width:2px"> </div>conduct a two-phase<div style="display:inline-block;width:2px"> </div>study of a<div style="display:inline-block;width:2px"> </div>COVID-19 vaccine clinical </div><div id="a21518" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">trial in Taiwan.<div style="display:inline-block;width:6px"> </div>The grant provides that<div style="display:inline-block;width:5px"> </div>costs incurred to complete<div style="display:inline-block;width:5px"> </div>the two phases of<div style="display:inline-block;width:5px"> </div>the clinical trial will<div style="display:inline-block;width:5px"> </div>be reimbursed based on<div style="display:inline-block;width:5px"> </div>the </div><div id="a21520" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">achievement<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>certain<div style="display:inline-block;width:5px"> </div>milestones<div style="display:inline-block;width:5px"> </div>as<div style="display:inline-block;width:5px"> </div>defined<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>agreement.<div style="display:inline-block;width:5px"> </div>At<div style="display:inline-block;width:5px"> </div>each<div style="display:inline-block;width:5px"> </div>reporting<div style="display:inline-block;width:5px"> </div>date,<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>assesses<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>status<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>all<div style="display:inline-block;width:5px"> </div>the </div><div id="a21523" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">activities involved in completing the clinical trials in relation to the milestones. The Company accounts for the amounts that have been </div><div id="a21525" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">received from the<div style="display:inline-block;width:5px"> </div>Taiwan<div style="display:inline-block;width:5px"> </div>CDC to reimburse<div style="display:inline-block;width:5px"> </div>costs incurred on<div style="display:inline-block;width:5px"> </div>the clinical trials<div style="display:inline-block;width:5px"> </div>and not<div style="display:inline-block;width:5px"> </div>expected to be<div style="display:inline-block;width:5px"> </div>refunded back<div style="display:inline-block;width:5px"> </div>to the Taiwan </div><div id="a21527" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">CDC as contra research and development expenses in the accompanying consolidated statements of operations.</div></div></div></div><div id="TextBlockContainer1602" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:890px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1596_XBRL_TS_e32c8b9508a74a1991a22fa230a38564" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1597" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:154px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21543" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Research and development </div><div id="a21548" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Research<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:5px"> </div>development<div style="display:inline-block;width:5px"> </div>expenses<div style="display:inline-block;width:5px"> </div>include<div style="display:inline-block;width:5px"> </div>employee<div style="display:inline-block;width:5px"> </div>related<div style="display:inline-block;width:5px"> </div>costs,<div style="display:inline-block;width:6px"> </div>consulting,<div style="display:inline-block;width:5px"> </div>contract<div style="display:inline-block;width:5px"> </div>research,<div style="display:inline-block;width:5px"> </div>depreciation,<div style="display:inline-block;width:5px"> </div>rent,<div style="display:inline-block;width:5px"> </div>stock-based </div><div id="a21551" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">compensation and other corporate costs attributable to research and development activities and are expensed as incurred. </div><div id="a21555" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">The Company has entered into various research, development and manufacturing contracts, some of which are with related parties (see </div><div id="a21557" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">Note 18). These<div style="display:inline-block;width:5px"> </div>agreements are generally<div style="display:inline-block;width:5px"> </div>cancelable by either<div style="display:inline-block;width:5px"> </div>party,<div style="display:inline-block;width:5px"> </div>and related payments<div style="display:inline-block;width:5px"> </div>are recorded as<div style="display:inline-block;width:5px"> </div>research and development </div><div id="a21561" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">expenses as incurred.<div style="display:inline-block;width:1px"> </div>The Company records<div style="display:inline-block;width:1px"> </div>accruals for estimated<div style="display:inline-block;width:2px"> </div>ongoing research costs.<div style="display:inline-block;width:1px"> </div>When evaluating the<div style="display:inline-block;width:2px"> </div>adequacy of the<div style="display:inline-block;width:2px"> </div>accrued </div><div id="a21563" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">liabilities, the Company<div style="display:inline-block;width:5px"> </div>analyzes progress of<div style="display:inline-block;width:5px"> </div>the studies or<div style="display:inline-block;width:5px"> </div>trials, including the<div style="display:inline-block;width:5px"> </div>phase or<div style="display:inline-block;width:5px"> </div>completion of events,<div style="display:inline-block;width:5px"> </div>invoices received and </div><div id="a21565" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">contracted costs. The Company’s historical accrual estimates have not been materially different from the actual costs.</div></div></div><div id="div_1598_XBRL_TS_0db5f19729e2447989d8167b6948e76f" style="position:absolute;left:0px;top:169px;float:left;"><div id="TextBlockContainer1599" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21568" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Patent costs </div><div id="a21571" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Patent-related costs<div style="display:inline-block;width:2px"> </div>incurred in<div style="display:inline-block;width:2px"> </div>connection with<div style="display:inline-block;width:2px"> </div>filing and<div style="display:inline-block;width:2px"> </div>prosecuting patent<div style="display:inline-block;width:2px"> </div>applications are<div style="display:inline-block;width:2px"> </div>expensed as<div style="display:inline-block;width:2px"> </div>incurred due<div style="display:inline-block;width:2px"> </div>to the<div style="display:inline-block;width:2px"> </div>uncertainty </div><div id="a21576" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">relating to the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses.</div></div></div><div id="div_1600_XBRL_TS_57af87a4bf544f2cb5e72fa16af926b1" style="position:absolute;left:0px;top:245px;float:left;"><div id="TextBlockContainer1601" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:245px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21579" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Stock-based compensation </div><div id="a21584" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company measures all stock-based awards granted to employees, directors and non-employees based on the fair<div style="display:inline-block;width:5px"> </div>value on the date </div><div id="a21591" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">of grant and recognizes compensation<div style="display:inline-block;width:5px"> </div>expense of those awards over<div style="display:inline-block;width:5px"> </div>the requisite service period, which<div style="display:inline-block;width:5px"> </div>is generally the vesting period </div><div id="a21593" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">of the respective award. Forfeitures are accounted for as they occur. </div><div id="a21597" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">The Company classifies<div style="display:inline-block;width:5px"> </div>stock-based compensation expense<div style="display:inline-block;width:5px"> </div>in its<div style="display:inline-block;width:5px"> </div>consolidated statements of<div style="display:inline-block;width:5px"> </div>operations in the<div style="display:inline-block;width:5px"> </div>same manner in<div style="display:inline-block;width:5px"> </div>which </div><div id="a21602" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">the award recipient’s payroll costs are classified or in which the award recipient’s service payments are classified. </div><div id="a21606" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">Prior to<div style="display:inline-block;width:5px"> </div>the Company's IPO<div style="display:inline-block;width:5px"> </div>in November 2021,<div style="display:inline-block;width:5px"> </div>there was no<div style="display:inline-block;width:5px"> </div>public market for<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:5px"> </div>common stock and<div style="display:inline-block;width:5px"> </div>the estimated fair </div><div id="a21608" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">value of its common stock was determined by its most recently available third-party valuations of common stock. There are significant </div><div id="a21612" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">judgments<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>estimates<div style="display:inline-block;width:6px"> </div>inherent<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>determination<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>fair<div style="display:inline-block;width:6px"> </div>value<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>Company’s<div style="display:inline-block;width:7px"> </div>common<div style="display:inline-block;width:6px"> </div>stock.<div style="display:inline-block;width:6px"> </div>These<div style="display:inline-block;width:6px"> </div>estimates<div style="display:inline-block;width:6px"> </div>and </div><div id="a21613" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">assumptions include<div style="display:inline-block;width:2px"> </div>a number<div style="display:inline-block;width:2px"> </div>of objective<div style="display:inline-block;width:2px"> </div>and subjective<div style="display:inline-block;width:2px"> </div>factors, including<div style="display:inline-block;width:2px"> </div>external market<div style="display:inline-block;width:2px"> </div>conditions, the<div style="display:inline-block;width:2px"> </div>prices at<div style="display:inline-block;width:2px"> </div>which the<div style="display:inline-block;width:2px"> </div>Company </div><div id="a21615" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">sold shares of preferred<div style="display:inline-block;width:5px"> </div>securities, the superior rights<div style="display:inline-block;width:5px"> </div>and preferences of securities senior<div style="display:inline-block;width:5px"> </div>to the common securities at<div style="display:inline-block;width:5px"> </div>the time of, and </div><div id="a21618" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">the likelihood<div style="display:inline-block;width:2px"> </div>of, achieving<div style="display:inline-block;width:2px"> </div>a liquidity<div style="display:inline-block;width:2px"> </div>event, such<div style="display:inline-block;width:2px"> </div>as an<div style="display:inline-block;width:2px"> </div>initial public<div style="display:inline-block;width:2px"> </div>offering (“IPO”)<div style="display:inline-block;width:2px"> </div>or sale.<div style="display:inline-block;width:2px"> </div>Significant changes<div style="display:inline-block;width:2px"> </div>to the<div style="display:inline-block;width:2px"> </div>key assumptions </div><div id="a21620" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">used in the valuations could result in different fair values of common stock at each valuation date.</div></div></div><div id="a21623" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:506px;">The fair value of each restricted stock award is estimated on<div style="display:inline-block;width:5px"> </div>the date of grant based on the fair value<div style="display:inline-block;width:5px"> </div>of the Company’s common stock </div><div id="a21626" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:521px;">on that same<div style="display:inline-block;width:5px"> </div>date. The fair<div style="display:inline-block;width:5px"> </div>value of each<div style="display:inline-block;width:5px"> </div>option grant is<div style="display:inline-block;width:5px"> </div>estimated on the<div style="display:inline-block;width:5px"> </div>date of grant<div style="display:inline-block;width:5px"> </div>using the Black-Scholes<div style="display:inline-block;width:5px"> </div>option pricing model </div><div id="a21629" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:537px;">(“Black-Scholes”), which<div style="display:inline-block;width:6px"> </div>requires inputs<div style="display:inline-block;width:6px"> </div>based<div style="display:inline-block;width:5px"> </div>on<div style="display:inline-block;width:5px"> </div>certain subjective<div style="display:inline-block;width:6px"> </div>assumptions, including<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:5px"> </div>expected stock<div style="display:inline-block;width:6px"> </div>price volatility,<div style="display:inline-block;width:7px"> </div>the </div><div id="a21633" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:552px;">expected term<div style="display:inline-block;width:2px"> </div>of the award,<div style="display:inline-block;width:1px"> </div>the risk-free<div style="display:inline-block;width:2px"> </div>interest rate<div style="display:inline-block;width:2px"> </div>and expected<div style="display:inline-block;width:2px"> </div>dividends. The<div style="display:inline-block;width:2px"> </div>Company, both prior<div style="display:inline-block;width:2px"> </div>to and<div style="display:inline-block;width:2px"> </div>after the<div style="display:inline-block;width:2px"> </div>IPO in<div style="display:inline-block;width:2px"> </div>November </div><div id="a21636" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:567px;">2021, lacks sufficient company-specific<div style="display:inline-block;width:5px"> </div>historical and implied volatility<div style="display:inline-block;width:5px"> </div>information for its stock,<div style="display:inline-block;width:5px"> </div>and therefore estimates its expected </div><div id="a21641" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:583px;">stock volatility based on<div style="display:inline-block;width:5px"> </div>the historical volatility of a<div style="display:inline-block;width:5px"> </div>publicly traded set of<div style="display:inline-block;width:5px"> </div>peer companies and expects<div style="display:inline-block;width:5px"> </div>to continue to do<div style="display:inline-block;width:5px"> </div>so until such </div><div id="a21643" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:598px;">time as it has adequate<div style="display:inline-block;width:2px"> </div>historical data regarding the<div style="display:inline-block;width:2px"> </div>volatility of its own<div style="display:inline-block;width:2px"> </div>traded stock price. The<div style="display:inline-block;width:2px"> </div>expected term of the<div style="display:inline-block;width:2px"> </div>Company’s options </div><div id="a21645" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:613px;">has been determined utilizing the “simplified” method for awards that qualify as<div style="display:inline-block;width:5px"> </div>“plain-vanilla” options. The expected term of options </div><div id="a21648" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:629px;">granted to non-employees is equal to the<div style="display:inline-block;width:5px"> </div>contractual term of the option award. The risk-free<div style="display:inline-block;width:5px"> </div>interest rate is determined by reference to </div><div id="a21653" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:644px;">the U.S. Treasury yield curve in effect at<div style="display:inline-block;width:2px"> </div>the time of grant of<div style="display:inline-block;width:2px"> </div>the award for time periods<div style="display:inline-block;width:2px"> </div>approximately equal to the expected<div style="display:inline-block;width:2px"> </div>term of the </div><div id="a21655" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:659px;">award. Expected dividend<div style="display:inline-block;width:5px"> </div>yield is<div style="display:inline-block;width:5px"> </div>based on the<div style="display:inline-block;width:5px"> </div>fact that<div style="display:inline-block;width:5px"> </div>the Company has<div style="display:inline-block;width:5px"> </div>never paid<div style="display:inline-block;width:5px"> </div>cash dividends on<div style="display:inline-block;width:5px"> </div>common stock and<div style="display:inline-block;width:5px"> </div>does not </div><div id="a21657" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:675px;">expect to pay any cash dividends in the foreseeable future. </div><div id="a21660" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:705px;">Performance-based options </div><div id="a21665" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:736px;">The Company accounts for performance-based options according to the ASC 718, Compensation – Stock Compensation ("ASC 718"), </div><div id="a21673" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:751px;">which are subject to different accounting depending on whether they meet the definition of performance conditions, market conditions, </div><div id="a21675" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:767px;">or other conditions. The<div style="display:inline-block;width:2px"> </div>conditions present in the<div style="display:inline-block;width:2px"> </div>Company's grants contain<div style="display:inline-block;width:2px"> </div>both performance and market<div style="display:inline-block;width:2px"> </div>conditions. The effect of each </div><div id="a21677" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:782px;">condition<div style="display:inline-block;width:5px"> </div>is<div style="display:inline-block;width:5px"> </div>reflected<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:5px"> </div>grant-date<div style="display:inline-block;width:5px"> </div>fair<div style="display:inline-block;width:5px"> </div>value<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>performance-based<div style="display:inline-block;width:5px"> </div>options<div style="display:inline-block;width:5px"> </div>are<div style="display:inline-block;width:6px"> </div>measured<div style="display:inline-block;width:5px"> </div>considering<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>probability<div style="display:inline-block;width:5px"> </div>of </div><div id="a21682" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:797px;">satisfying the performance and market conditions.<div style="display:inline-block;width:5px"> </div>The Company has used a Monte<div style="display:inline-block;width:5px"> </div>Carlo Simulation Model to calculate the<div style="display:inline-block;width:5px"> </div>fair value </div><div id="a21684" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:813px;">of the<div style="display:inline-block;width:5px"> </div>performance condition<div style="display:inline-block;width:5px"> </div>(the completion<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>IPO) and<div style="display:inline-block;width:5px"> </div>market condition<div style="display:inline-block;width:5px"> </div>(the 25%<div style="display:inline-block;width:5px"> </div>higher value<div style="display:inline-block;width:5px"> </div>after the<div style="display:inline-block;width:5px"> </div>IPO condition).<div style="display:inline-block;width:5px"> </div>The </div><div id="a21687" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:828px;">performance condition was determined<div style="display:inline-block;width:5px"> </div>to not be<div style="display:inline-block;width:5px"> </div>probable at the<div style="display:inline-block;width:5px"> </div>time of the<div style="display:inline-block;width:5px"> </div>grant date, and<div style="display:inline-block;width:5px"> </div>the recognition of<div style="display:inline-block;width:5px"> </div>compensation cost was </div><div id="a21690" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:843px;">deferred until<div style="display:inline-block;width:5px"> </div>the IPO<div style="display:inline-block;width:5px"> </div>was consummated<div style="display:inline-block;width:5px"> </div>in November<div style="display:inline-block;width:5px"> </div>2021. The<div style="display:inline-block;width:5px"> </div>recognition of<div style="display:inline-block;width:5px"> </div>expense for<div style="display:inline-block;width:5px"> </div>the portion<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>grant-date fair<div style="display:inline-block;width:5px"> </div>value </div><div id="a21693" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:859px;">assigned to the market condition will be recognized as expense according to the derived service period in the<div style="display:inline-block;width:2px"> </div>valuation model.<div style="display:inline-block;width:6px"> </div></div></div><div id="TextBlockContainer1608" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:798px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1604_XBRL_TS_7220994ac37e44f78b576c75d86f8ab1" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1605" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:86px;height:16px;display:inline-block;"><div id="a21705" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Income taxes</div></div></div><div id="a21708" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company accounts for<div style="display:inline-block;width:5px"> </div>income taxes according to<div style="display:inline-block;width:5px"> </div>the ASC 740, Income<div style="display:inline-block;width:5px"> </div>Taxes<div style="display:inline-block;width:5px"> </div>(“ASC 740”) using the<div style="display:inline-block;width:5px"> </div>asset and liability method, </div><div id="a21710" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">which requires the<div style="display:inline-block;width:5px"> </div>recognition of deferred<div style="display:inline-block;width:5px"> </div>tax assets and<div style="display:inline-block;width:5px"> </div>liabilities for the<div style="display:inline-block;width:5px"> </div>expected future tax<div style="display:inline-block;width:5px"> </div>consequences of events<div style="display:inline-block;width:5px"> </div>that have been </div><div id="a21713" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">recognized<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>consolidated<div style="display:inline-block;width:5px"> </div>financial<div style="display:inline-block;width:5px"> </div>statements<div style="display:inline-block;width:5px"> </div>or<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company’s<div style="display:inline-block;width:6px"> </div>tax<div style="display:inline-block;width:5px"> </div>returns.<div style="display:inline-block;width:5px"> </div>Deferred<div style="display:inline-block;width:5px"> </div>taxes<div style="display:inline-block;width:5px"> </div>are<div style="display:inline-block;width:5px"> </div>determined<div style="display:inline-block;width:5px"> </div>based<div style="display:inline-block;width:5px"> </div>on<div style="display:inline-block;width:5px"> </div>the </div><div id="a21715" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">difference between the<div style="display:inline-block;width:5px"> </div>financial statement and tax<div style="display:inline-block;width:5px"> </div>basis of assets<div style="display:inline-block;width:5px"> </div>and liabilities using<div style="display:inline-block;width:5px"> </div>enacted tax rates in<div style="display:inline-block;width:5px"> </div>effect in the<div style="display:inline-block;width:5px"> </div>years in which </div><div id="a21717" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">the differences are expected to reverse.<div style="display:inline-block;width:2px"> </div>Changes in deferred tax assets<div style="display:inline-block;width:2px"> </div>and liabilities are recorded in the<div style="display:inline-block;width:2px"> </div>provision for income taxes. The </div><div id="a21720" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">Company assesses<div style="display:inline-block;width:5px"> </div>the likelihood<div style="display:inline-block;width:5px"> </div>that its<div style="display:inline-block;width:5px"> </div>deferred tax<div style="display:inline-block;width:5px"> </div>assets will<div style="display:inline-block;width:5px"> </div>be realized<div style="display:inline-block;width:5px"> </div>and, to<div style="display:inline-block;width:5px"> </div>the extent<div style="display:inline-block;width:5px"> </div>it believes,<div style="display:inline-block;width:5px"> </div>based upon<div style="display:inline-block;width:6px"> </div>the weight<div style="display:inline-block;width:5px"> </div>of </div><div id="a21722" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">available evidence, that<div style="display:inline-block;width:2px"> </div>it is more likely<div style="display:inline-block;width:2px"> </div>than not that all<div style="display:inline-block;width:2px"> </div>or a portion of<div style="display:inline-block;width:2px"> </div>the deferred tax<div style="display:inline-block;width:2px"> </div>assets will not<div style="display:inline-block;width:2px"> </div>be realized, a valuation<div style="display:inline-block;width:2px"> </div>allowance </div><div id="a21724" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">is established through a charge to income tax<div style="display:inline-block;width:2px"> </div>expense. In evaluating its ability to recover<div style="display:inline-block;width:2px"> </div>its deferred tax assets, the Company considers </div><div id="a21726" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">all available positive and negative evidence, including<div style="display:inline-block;width:2px"> </div>projected future taxable income, prudent and feasible<div style="display:inline-block;width:2px"> </div>tax planning strategies and </div><div id="a21728" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">recent financial operations. </div><div id="a21731" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">The<div style="display:inline-block;width:5px"> </div>Company accounts<div style="display:inline-block;width:6px"> </div>for uncertainty<div style="display:inline-block;width:6px"> </div>in income<div style="display:inline-block;width:6px"> </div>taxes<div style="display:inline-block;width:5px"> </div>recognized<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>consolidated financial<div style="display:inline-block;width:6px"> </div>statements by<div style="display:inline-block;width:6px"> </div>applying a<div style="display:inline-block;width:6px"> </div>two-step </div><div id="a21734" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">process to determine<div style="display:inline-block;width:5px"> </div>the amount of<div style="display:inline-block;width:5px"> </div>tax benefit to<div style="display:inline-block;width:5px"> </div>be recognized. First,<div style="display:inline-block;width:5px"> </div>the tax position<div style="display:inline-block;width:5px"> </div>must be evaluated<div style="display:inline-block;width:5px"> </div>to determine the<div style="display:inline-block;width:5px"> </div>likelihood </div><div id="a21737" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">that it<div style="display:inline-block;width:5px"> </div>will be<div style="display:inline-block;width:5px"> </div>sustained upon<div style="display:inline-block;width:5px"> </div>external examination<div style="display:inline-block;width:5px"> </div>by the<div style="display:inline-block;width:5px"> </div>taxing authorities.<div style="display:inline-block;width:5px"> </div>If the<div style="display:inline-block;width:5px"> </div>tax position<div style="display:inline-block;width:5px"> </div>is deemed<div style="display:inline-block;width:5px"> </div>more-likely-than-not to<div style="display:inline-block;width:5px"> </div>be </div><div id="a21744" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">sustained, the tax position is then<div style="display:inline-block;width:2px"> </div>assessed to determine the amount of<div style="display:inline-block;width:2px"> </div>benefit to recognize in the consolidated<div style="display:inline-block;width:2px"> </div>financial statements. The </div><div id="a21746" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">amount of the<div style="display:inline-block;width:2px"> </div>benefit that may<div style="display:inline-block;width:2px"> </div>be recognized is<div style="display:inline-block;width:2px"> </div>the largest amount<div style="display:inline-block;width:2px"> </div>that has a<div style="display:inline-block;width:2px"> </div>greater than 50%<div style="display:inline-block;width:2px"> </div>likelihood of being<div style="display:inline-block;width:2px"> </div>realized upon ultimate </div><div id="a21748" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">settlement. To<div style="display:inline-block;width:5px"> </div>the extent the<div style="display:inline-block;width:5px"> </div>Company determines that<div style="display:inline-block;width:5px"> </div>such tax positions will<div style="display:inline-block;width:5px"> </div>not be sustained,<div style="display:inline-block;width:5px"> </div>the provision for<div style="display:inline-block;width:5px"> </div>income taxes would </div><div id="a21750" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">include the<div style="display:inline-block;width:5px"> </div>effects of<div style="display:inline-block;width:6px"> </div>any resulting<div style="display:inline-block;width:5px"> </div>income tax<div style="display:inline-block;width:5px"> </div>reserves, or<div style="display:inline-block;width:5px"> </div>unrecognized tax<div style="display:inline-block;width:5px"> </div>benefits, that<div style="display:inline-block;width:6px"> </div>are considered<div style="display:inline-block;width:5px"> </div>appropriate as<div style="display:inline-block;width:5px"> </div>well as<div style="display:inline-block;width:5px"> </div>the </div><div id="a21752" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:307px;">related net interest and penalties. </div><div id="div_1606_XBRL_TS_4b1b32100396480da2850143135b68ff" style="position:absolute;left:0px;top:337px;float:left;"><div id="TextBlockContainer1607" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:307px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21755" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Net loss per share </div><div id="a21758" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company<div style="display:inline-block;width:2px"> </div>follows the<div style="display:inline-block;width:2px"> </div>two-class method<div style="display:inline-block;width:2px"> </div>when computing<div style="display:inline-block;width:2px"> </div>net loss<div style="display:inline-block;width:2px"> </div>per share<div style="display:inline-block;width:2px"> </div>as the<div style="display:inline-block;width:2px"> </div>Company has<div style="display:inline-block;width:2px"> </div>issued shares<div style="display:inline-block;width:2px"> </div>that meet<div style="display:inline-block;width:2px"> </div>the definition </div><div id="a21761" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">of participating<div style="display:inline-block;width:5px"> </div>securities. The<div style="display:inline-block;width:5px"> </div>two-class method<div style="display:inline-block;width:5px"> </div>determines net<div style="display:inline-block;width:5px"> </div>loss per<div style="display:inline-block;width:5px"> </div>share for<div style="display:inline-block;width:5px"> </div>each class<div style="display:inline-block;width:5px"> </div>of common<div style="display:inline-block;width:5px"> </div>and participating<div style="display:inline-block;width:5px"> </div>securities </div><div id="a21765" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">according to dividends declared or accumulated, and participation rights<div style="display:inline-block;width:5px"> </div>in undistributed earnings. The two-class method requires loss </div><div id="a21768" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">available to<div style="display:inline-block;width:2px"> </div>common stockholders<div style="display:inline-block;width:2px"> </div>for the<div style="display:inline-block;width:2px"> </div>period to<div style="display:inline-block;width:2px"> </div>be allocated<div style="display:inline-block;width:2px"> </div>between common<div style="display:inline-block;width:2px"> </div>and participating<div style="display:inline-block;width:2px"> </div>securities based<div style="display:inline-block;width:2px"> </div>upon their<div style="display:inline-block;width:2px"> </div>respective </div><div id="a21772" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">rights to receive dividends as if all income for the period had been distributed. </div><div id="a21775" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">Basic net<div style="display:inline-block;width:5px"> </div>loss per<div style="display:inline-block;width:5px"> </div>share is<div style="display:inline-block;width:5px"> </div>computed by<div style="display:inline-block;width:5px"> </div>dividing the<div style="display:inline-block;width:5px"> </div>net loss by<div style="display:inline-block;width:5px"> </div>the weighted average<div style="display:inline-block;width:5px"> </div>number of<div style="display:inline-block;width:5px"> </div>common shares outstanding<div style="display:inline-block;width:5px"> </div>for the </div><div id="a21777" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">period. Diluted net loss is computed by<div style="display:inline-block;width:5px"> </div>adjusting net loss to reallocate undistributed earnings based<div style="display:inline-block;width:5px"> </div>on the potential impact of dilutive </div><div id="a21780" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">securities. Diluted net<div style="display:inline-block;width:5px"> </div>loss per share<div style="display:inline-block;width:5px"> </div>is computed by<div style="display:inline-block;width:5px"> </div>dividing the diluted<div style="display:inline-block;width:5px"> </div>net loss by<div style="display:inline-block;width:5px"> </div>the weighted average<div style="display:inline-block;width:5px"> </div>number of common<div style="display:inline-block;width:5px"> </div>shares </div><div id="a21782" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">outstanding for<div style="display:inline-block;width:5px"> </div>the period,<div style="display:inline-block;width:5px"> </div>including potential<div style="display:inline-block;width:5px"> </div>dilutive common<div style="display:inline-block;width:5px"> </div>stock. For<div style="display:inline-block;width:5px"> </div>purpose of<div style="display:inline-block;width:5px"> </div>this calculation,<div style="display:inline-block;width:5px"> </div>outstanding options,<div style="display:inline-block;width:5px"> </div>unvested </div><div id="a21784" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">restricted stock and convertible preferred stock are considered potential dilutive common stock and are excluded from the computation </div><div id="a21786" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">of net loss per share as their effect is anti-dilutive. </div><div id="a21791" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">The Company’s<div style="display:inline-block;width:6px"> </div>convertible preferred<div style="display:inline-block;width:5px"> </div>stock contractually<div style="display:inline-block;width:5px"> </div>entitles the<div style="display:inline-block;width:6px"> </div>holders of<div style="display:inline-block;width:6px"> </div>such shares<div style="display:inline-block;width:6px"> </div>to participate<div style="display:inline-block;width:5px"> </div>in dividends<div style="display:inline-block;width:6px"> </div>but does<div style="display:inline-block;width:6px"> </div>not </div><div id="a21795" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">contractually require the holders of such shares to participate in losses of the Company. Accordingly, in periods in which the Company </div><div id="a21797" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">reports a<div style="display:inline-block;width:6px"> </div>net loss,<div style="display:inline-block;width:5px"> </div>such losses<div style="display:inline-block;width:5px"> </div>are not<div style="display:inline-block;width:6px"> </div>allocated to<div style="display:inline-block;width:5px"> </div>such participating<div style="display:inline-block;width:5px"> </div>securities. In<div style="display:inline-block;width:5px"> </div>periods in<div style="display:inline-block;width:6px"> </div>which the<div style="display:inline-block;width:5px"> </div>Company reports<div style="display:inline-block;width:5px"> </div>a net<div style="display:inline-block;width:6px"> </div>loss, </div><div id="a21799" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">diluted net loss per share is the same as basic net loss per share attributable to common stockholders, since dilutive common shares are </div><div id="a21802" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">not assumed to be outstanding if their effect is anti-dilutive.</div></div></div><div id="a21808" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:659px;">Emerging growth company status </div><div id="a21811" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:690px;">The Company is an “emerging growth company” (“EGC”), as defined in the Jumpstart Our Business Startups Act (“JOBS Act”) and is </div><div id="a21813" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:705px;">permitted to and plans to<div style="display:inline-block;width:5px"> </div>take advantage of certain exemptions from<div style="display:inline-block;width:5px"> </div>various reporting requirements that are<div style="display:inline-block;width:5px"> </div>applicable to other public </div><div id="a21815" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:721px;">companies that are not EGCs. The Company<div style="display:inline-block;width:2px"> </div>may take advantage of these exemptions until<div style="display:inline-block;width:2px"> </div>it is no longer an EGC under Section 107<div style="display:inline-block;width:2px"> </div>of </div><div id="a21817" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:736px;">the JOBS<div style="display:inline-block;width:6px"> </div>Act, which<div style="display:inline-block;width:6px"> </div>provides that<div style="display:inline-block;width:6px"> </div>an EGC<div style="display:inline-block;width:6px"> </div>can take<div style="display:inline-block;width:6px"> </div>advantage of<div style="display:inline-block;width:6px"> </div>the extended<div style="display:inline-block;width:6px"> </div>transition period<div style="display:inline-block;width:6px"> </div>afforded<div style="display:inline-block;width:5px"> </div>by the<div style="display:inline-block;width:6px"> </div>JOBS Act<div style="display:inline-block;width:6px"> </div>for the </div><div id="a21819" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:751px;">implementation of new or revised accounting standards. The Company has<div style="display:inline-block;width:5px"> </div>elected to avail itself of the extended transition period<div style="display:inline-block;width:5px"> </div>and, </div><div id="a21821" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:767px;">therefore, as long as the Company remains<div style="display:inline-block;width:5px"> </div>an EGC, it will not be<div style="display:inline-block;width:5px"> </div>subject to new or revised accounting standards at<div style="display:inline-block;width:5px"> </div>the same time that </div><div id="a21823" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:782px;">they become applicable to other public companies that are not EGCs.</div></div><div id="TextBlockContainer1553" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:732px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1551_XBRL_TS_0c0f45c55e19433390b189480d50ffd8" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1552" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:732px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21095" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:595px;top:0px;">December 31, </div><div id="a21100" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:19px;">2021 </div><div id="a21103" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:670px;top:19px;">2020 </div><div id="a21105" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:37px;">Cash and cash equivalents </div><div id="a21107" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:37px;">$ </div><div id="a21109" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:580px;top:37px;">144,885</div><div id="a21112" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:37px;">$ </div><div id="a21114" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:37px;">31,143</div><div id="a21116" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:54px;">Restricted cash </div><div id="a21119" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:54px;">172</div><div id="a21123" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:709px;top:54px;">55</div><div id="a21125" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:72px;">Total cash, cash equivalents and restricted cash </div><div id="a21127" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:72px;">$ </div><div id="a21129" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:580px;top:72px;">145,057</div><div id="a21132" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:72px;">$ </div><div id="a21134" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:72px;">31,198</div></div></div></div><div id="TextBlockContainer1568" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:149px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1564_XBRL_TS_7f97ac8a65a24b73a082bad90c9336f3" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1567" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:149px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1565_XBRL_TS_31f5def5e29a47d9942ced1d02ba0b3d" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1566" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:149px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21210" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:637px;top:0px;">Estimated<div style="display:inline-block;width:3px"> </div></div><div id="a21212" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:647px;top:15px;">Useful<div style="display:inline-block;width:3px"> </div></div><div id="a21214" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:654px;top:31px;">Life </div><div id="a21216" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:48px;">Airplane </div><div id="a21218" style="position:absolute;font-family:'Times New Roman';left:680px;top:48px;">15 years</div><div id="a21220" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:65px;">Facilities </div><div id="a21222" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:65px;">15 years</div><div id="a21224" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:82px;">Furniture and fixtures </div><div id="a21226" style="position:absolute;font-family:'Times New Roman';left:686px;top:82px;">5 years</div><div id="a21228" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:99px;">Vehicles </div><div id="a21230" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:99px;">5 years</div><div id="a21232" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:116px;">Laboratory and computer equipment </div><div id="a21234" style="position:absolute;font-family:'Times New Roman';left:686px;top:116px;">3 years</div><div id="a21236" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:133px;">Software </div><div id="a21238" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:133px;">3 years</div></div></div></div></div></div>
<div id="TextBlockContainer1535" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:129px;height:15px;display:inline-block;"><div id="a20956" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Basis of presentation</div></div>
<div id="TextBlockContainer1537" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:107px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20973" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Foreign currency translation </div><div id="a20976" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The<div style="display:inline-block;width:5px"> </div>Company’s<div style="display:inline-block;width:6px"> </div>consolidated<div style="display:inline-block;width:5px"> </div>financial<div style="display:inline-block;width:5px"> </div>statements<div style="display:inline-block;width:5px"> </div>are<div style="display:inline-block;width:5px"> </div>prepared<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>U.S.<div style="display:inline-block;width:5px"> </div>dollars.<div style="display:inline-block;width:5px"> </div>Its<div style="display:inline-block;width:5px"> </div>foreign<div style="display:inline-block;width:5px"> </div>subsidiaries<div style="display:inline-block;width:5px"> </div>use<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>U.S.<div style="display:inline-block;width:5px"> </div>dollar<div style="display:inline-block;width:5px"> </div>as<div style="display:inline-block;width:5px"> </div>their </div><div id="a20979" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">functional currency<div style="display:inline-block;width:5px"> </div>and maintain<div style="display:inline-block;width:5px"> </div>their records<div style="display:inline-block;width:5px"> </div>in the<div style="display:inline-block;width:5px"> </div>local currency.<div style="display:inline-block;width:6px"> </div>Nonmonetary assets<div style="display:inline-block;width:5px"> </div>and liabilities<div style="display:inline-block;width:5px"> </div>are re-measured<div style="display:inline-block;width:5px"> </div>at historical </div><div id="a20983" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">rates and monetary assets and liabilities are<div style="display:inline-block;width:2px"> </div>re-measured at exchange rates in effect at the end<div style="display:inline-block;width:2px"> </div>of the reporting period. Income statement </div><div id="a20988" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">accounts are<div style="display:inline-block;width:2px"> </div>re-measured at<div style="display:inline-block;width:2px"> </div>average exchange<div style="display:inline-block;width:1px"> </div>rates for<div style="display:inline-block;width:2px"> </div>the reporting<div style="display:inline-block;width:2px"> </div>period. The<div style="display:inline-block;width:2px"> </div>resulting gains<div style="display:inline-block;width:2px"> </div>or losses<div style="display:inline-block;width:2px"> </div>are included<div style="display:inline-block;width:2px"> </div>in foreign<div style="display:inline-block;width:2px"> </div>currency </div><div id="a20994" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">(losses) gains in the consolidated statements of operations.</div></div>
<div id="TextBlockContainer1539" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20997" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Segment information </div><div id="a21000" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Operating segments are<div style="display:inline-block;width:5px"> </div>defined as components<div style="display:inline-block;width:5px"> </div>of an<div style="display:inline-block;width:5px"> </div>entity for which<div style="display:inline-block;width:5px"> </div>separate financial information<div style="display:inline-block;width:5px"> </div>is available and<div style="display:inline-block;width:5px"> </div>that is<div style="display:inline-block;width:5px"> </div>regularly </div><div id="a21002" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">reviewed by<div style="display:inline-block;width:5px"> </div>the Chief<div style="display:inline-block;width:5px"> </div>Operating Decision<div style="display:inline-block;width:5px"> </div>Maker (“CODM”)<div style="display:inline-block;width:5px"> </div>in deciding<div style="display:inline-block;width:5px"> </div>how to<div style="display:inline-block;width:5px"> </div>allocate resources<div style="display:inline-block;width:5px"> </div>to an<div style="display:inline-block;width:5px"> </div>individual segment<div style="display:inline-block;width:5px"> </div>and in </div><div id="a21004" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">assessing performance. The Company’s<div style="display:inline-block;width:5px"> </div>CODM is its Chief Executive Officer<div style="display:inline-block;width:5px"> </div>(“CEO”). The Company has determined that<div style="display:inline-block;width:5px"> </div>it operates </div><div id="a21006" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">as a single operating segment and has one reportable segment.</div></div>
<div id="TextBlockContainer1541" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:169px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21009" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Use of estimates </div><div id="a21012" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The preparation of consolidated<div style="display:inline-block;width:2px"> </div>financial statements in accordance<div style="display:inline-block;width:2px"> </div>with GAAP requires the Company’s management to<div style="display:inline-block;width:2px"> </div>make estimates </div><div id="a21014" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">and assumptions that affect the reported amounts of assets and liabilities and<div style="display:inline-block;width:2px"> </div>disclosure of contingent assets and liabilities at the date of </div><div id="a21016" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">the consolidated financial statements and the reported amounts of expenses during<div style="display:inline-block;width:2px"> </div>the reporting period. Significant estimates contained </div><div id="a21020" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">within these consolidated financial statements include, but are not limited to, the estimated fair value of the Company’s common<div style="display:inline-block;width:5px"> </div>stock </div><div id="a21022" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">and convertible notes payable, simple agreements for future equity, warrant liabilities, stock-based compensation, income tax valuation </div><div id="a21026" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">allowance and the<div style="display:inline-block;width:5px"> </div>accruals of research<div style="display:inline-block;width:5px"> </div>and development expenses.<div style="display:inline-block;width:5px"> </div>The Company bases<div style="display:inline-block;width:5px"> </div>its estimates on<div style="display:inline-block;width:5px"> </div>historical experience, known </div><div id="a21028" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">trends and other market-specific<div style="display:inline-block;width:2px"> </div>or other relevant factors that<div style="display:inline-block;width:2px"> </div>it believes to be reasonable<div style="display:inline-block;width:2px"> </div>under the circumstances. On<div style="display:inline-block;width:2px"> </div>an ongoing basis, </div><div id="a21034" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">management evaluates<div style="display:inline-block;width:5px"> </div>its estimates,<div style="display:inline-block;width:5px"> </div>as there<div style="display:inline-block;width:5px"> </div>are changes<div style="display:inline-block;width:5px"> </div>in facts<div style="display:inline-block;width:5px"> </div>and circumstances.<div style="display:inline-block;width:5px"> </div>Actual results<div style="display:inline-block;width:5px"> </div>may differ<div style="display:inline-block;width:5px"> </div>materially from<div style="display:inline-block;width:5px"> </div>those </div><div id="a21036" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">estimates or assumptions.</div></div>
<div id="TextBlockContainer1543" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:108px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21039" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Cash and cash equivalents </div><div id="a21042" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company considers all highly liquid investments with an original maturity of three months or less at the time of initial purchase to </div><div id="a21044" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">be<div style="display:inline-block;width:5px"> </div>cash equivalents,<div style="display:inline-block;width:6px"> </div>including balances<div style="display:inline-block;width:6px"> </div>held<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:7px"> </div>money market<div style="display:inline-block;width:6px"> </div>accounts. The<div style="display:inline-block;width:6px"> </div>Company<div style="display:inline-block;width:5px"> </div>maintains its<div style="display:inline-block;width:6px"> </div>cash<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>cash </div><div id="a21047" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">equivalents with financial institutions, in<div style="display:inline-block;width:2px"> </div>which balances from time to<div style="display:inline-block;width:2px"> </div>time may exceed the U.S.<div style="display:inline-block;width:2px"> </div>federally insured limits. The<div style="display:inline-block;width:2px"> </div>objectives </div><div id="a21049" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">of the Company’s cash management policy<div style="display:inline-block;width:5px"> </div>are to safeguard and preserve funds to maintain liquidity sufficient<div style="display:inline-block;width:5px"> </div>to meet the Company’s </div><div id="a21051" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">cash flow requirements, and to attain a market rate of return.</div></div>
<div id="TextBlockContainer1547" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:97px;height:16px;display:inline-block;"><div id="a21064" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Restricted cash</div></div><div id="TextBlockContainer1554" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:732px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1550_XBRL_TS_22a296236a2c45909fb1a5f333b50910" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1553" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:732px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1551_XBRL_TS_0c0f45c55e19433390b189480d50ffd8" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1552" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:732px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21095" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:595px;top:0px;">December 31, </div><div id="a21100" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:19px;">2021 </div><div id="a21103" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:670px;top:19px;">2020 </div><div id="a21105" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:37px;">Cash and cash equivalents </div><div id="a21107" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:37px;">$ </div><div id="a21109" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:580px;top:37px;">144,885</div><div id="a21112" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:37px;">$ </div><div id="a21114" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:37px;">31,143</div><div id="a21116" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:54px;">Restricted cash </div><div id="a21119" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:54px;">172</div><div id="a21123" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:709px;top:54px;">55</div><div id="a21125" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:72px;">Total cash, cash equivalents and restricted cash </div><div id="a21127" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:72px;">$ </div><div id="a21129" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:580px;top:72px;">145,057</div><div id="a21132" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:72px;">$ </div><div id="a21134" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:72px;">31,198</div></div></div></div></div></div>
<div id="TextBlockContainer1552" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:732px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21095" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:595px;top:0px;">December 31, </div><div id="a21100" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:19px;">2021 </div><div id="a21103" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:670px;top:19px;">2020 </div><div id="a21105" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:37px;">Cash and cash equivalents </div><div id="a21107" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:37px;">$ </div><div id="a21109" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:580px;top:37px;">144,885</div><div id="a21112" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:37px;">$ </div><div id="a21114" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:37px;">31,143</div><div id="a21116" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:54px;">Restricted cash </div><div id="a21119" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:54px;">172</div><div id="a21123" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:709px;top:54px;">55</div><div id="a21125" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:72px;">Total cash, cash equivalents and restricted cash </div><div id="a21127" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:72px;">$ </div><div id="a21129" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:580px;top:72px;">145,057</div><div id="a21132" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:72px;">$ </div><div id="a21134" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:72px;">31,198</div></div>
144885000
31143000
172000
55000
145057000
31198000
<div id="TextBlockContainer1557" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:200px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21137" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Concentration of credit risk </div><div id="a21140" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Financial instruments<div style="display:inline-block;width:2px"> </div>that potentially<div style="display:inline-block;width:2px"> </div>expose the<div style="display:inline-block;width:2px"> </div>Company to<div style="display:inline-block;width:2px"> </div>concentrations of<div style="display:inline-block;width:2px"> </div>credit risk<div style="display:inline-block;width:2px"> </div>consist primarily<div style="display:inline-block;width:2px"> </div>of cash<div style="display:inline-block;width:2px"> </div>and cash<div style="display:inline-block;width:2px"> </div>equivalents. </div><div id="a21143" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">Cash equivalents are<div style="display:inline-block;width:2px"> </div>occasionally invested in<div style="display:inline-block;width:2px"> </div>certificates of deposit.<div style="display:inline-block;width:2px"> </div>The Company maintains<div style="display:inline-block;width:2px"> </div>each of its<div style="display:inline-block;width:2px"> </div>cash balances with<div style="display:inline-block;width:2px"> </div>high-quality </div><div id="a21147" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">and accredited financial<div style="display:inline-block;width:5px"> </div>institutions and<div style="display:inline-block;width:5px"> </div>accordingly,<div style="display:inline-block;width:5px"> </div>such funds<div style="display:inline-block;width:5px"> </div>are not<div style="display:inline-block;width:5px"> </div>exposed to unusual<div style="display:inline-block;width:5px"> </div>credit risk<div style="display:inline-block;width:5px"> </div>beyond the<div style="display:inline-block;width:5px"> </div>normal credit<div style="display:inline-block;width:5px"> </div>risk </div><div id="a21149" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">associated with<div style="display:inline-block;width:5px"> </div>commercial banking<div style="display:inline-block;width:5px"> </div>relationships. The<div style="display:inline-block;width:5px"> </div>Company maintains<div style="display:inline-block;width:5px"> </div>a portion<div style="display:inline-block;width:5px"> </div>of its<div style="display:inline-block;width:5px"> </div>cash and<div style="display:inline-block;width:5px"> </div>cash equivalent<div style="display:inline-block;width:5px"> </div>balances in<div style="display:inline-block;width:5px"> </div>the </div><div id="a21154" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">form of a money market account with a financial institution that management believes to be creditworthy.<div style="display:inline-block;width:3px"> </div></div><div id="a21162" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">The Company is dependent on contract manufacturers, several of whom are considered to be related parties, for manufacturing, quality </div><div id="a21172" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">control,<div style="display:inline-block;width:7px"> </div>testing,<div style="display:inline-block;width:7px"> </div>validation<div style="display:inline-block;width:7px"> </div>and<div style="display:inline-block;width:7px"> </div>supply<div style="display:inline-block;width:7px"> </div>services,<div style="display:inline-block;width:7px"> </div>including<div style="display:inline-block;width:7px"> </div>production,<div style="display:inline-block;width:7px"> </div>including<div style="display:inline-block;width:7px"> </div>production<div style="display:inline-block;width:7px"> </div>and<div style="display:inline-block;width:7px"> </div>shipment<div style="display:inline-block;width:7px"> </div>of<div style="display:inline-block;width:7px"> </div>its<div style="display:inline-block;width:7px"> </div>enzyme-linked </div><div id="a21175" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">immunosorbent assay (“ELISA”) tests, and for research<div style="display:inline-block;width:2px"> </div>and development and clinical activities. The Company’s future revenue as<div style="display:inline-block;width:2px"> </div>well </div><div id="a21177" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">as research and<div style="display:inline-block;width:5px"> </div>development programs could<div style="display:inline-block;width:5px"> </div>be adversely affected<div style="display:inline-block;width:5px"> </div>by a significant<div style="display:inline-block;width:5px"> </div>supply interruption by<div style="display:inline-block;width:5px"> </div>one or more<div style="display:inline-block;width:5px"> </div>of its contract </div><div id="a21179" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">manufacturers.</div></div>
<div id="TextBlockContainer1559" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:123px;height:16px;display:inline-block;"><div id="a21182" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Accounts receivable</div></div>
<div id="TextBlockContainer1561" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21195" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Property and equipment </div><div id="a21198" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Property and equipment are<div style="display:inline-block;width:5px"> </div>stated at cost,<div style="display:inline-block;width:5px"> </div>less accumulated depreciation. Depreciation<div style="display:inline-block;width:5px"> </div>is computed on<div style="display:inline-block;width:5px"> </div>the straight-line basis over<div style="display:inline-block;width:5px"> </div>the </div><div id="a21203" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">estimated useful life of the assets. </div><div id="a21206" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">The estimated useful life of property and equipment is as follows:</div></div><div id="TextBlockContainer1566" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:149px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21210" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:637px;top:0px;">Estimated<div style="display:inline-block;width:3px"> </div></div><div id="a21212" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:647px;top:15px;">Useful<div style="display:inline-block;width:3px"> </div></div><div id="a21214" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:654px;top:31px;">Life </div><div id="a21216" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:48px;">Airplane </div><div id="a21218" style="position:absolute;font-family:'Times New Roman';left:680px;top:48px;">15 years</div><div id="a21220" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:65px;">Facilities </div><div id="a21222" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:65px;">15 years</div><div id="a21224" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:82px;">Furniture and fixtures </div><div id="a21226" style="position:absolute;font-family:'Times New Roman';left:686px;top:82px;">5 years</div><div id="a21228" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:99px;">Vehicles </div><div id="a21230" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:99px;">5 years</div><div id="a21232" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:116px;">Laboratory and computer equipment </div><div id="a21234" style="position:absolute;font-family:'Times New Roman';left:686px;top:116px;">3 years</div><div id="a21236" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:133px;">Software </div><div id="a21238" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:133px;">3 years</div></div><div id="TextBlockContainer1571" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:46px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21241" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">Upon retirement or sale, the cost of assets<div style="display:inline-block;width:2px"> </div>disposed of and the related accumulated depreciation<div style="display:inline-block;width:2px"> </div>are removed from the accounts and any </div><div id="a21243" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">resulting gain or<div style="display:inline-block;width:5px"> </div>loss is included<div style="display:inline-block;width:5px"> </div>in gain or<div style="display:inline-block;width:5px"> </div>loss from operations.<div style="display:inline-block;width:5px"> </div>Expenditures for repairs<div style="display:inline-block;width:5px"> </div>and maintenance are<div style="display:inline-block;width:5px"> </div>charged to expense<div style="display:inline-block;width:5px"> </div>as </div><div id="a21247" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">incurred.</div></div>
<div id="TextBlockContainer1567" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:149px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1565_XBRL_TS_31f5def5e29a47d9942ced1d02ba0b3d" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1566" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:149px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21210" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:637px;top:0px;">Estimated<div style="display:inline-block;width:3px"> </div></div><div id="a21212" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:647px;top:15px;">Useful<div style="display:inline-block;width:3px"> </div></div><div id="a21214" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:654px;top:31px;">Life </div><div id="a21216" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:48px;">Airplane </div><div id="a21218" style="position:absolute;font-family:'Times New Roman';left:680px;top:48px;">15 years</div><div id="a21220" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:65px;">Facilities </div><div id="a21222" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:65px;">15 years</div><div id="a21224" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:82px;">Furniture and fixtures </div><div id="a21226" style="position:absolute;font-family:'Times New Roman';left:686px;top:82px;">5 years</div><div id="a21228" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:99px;">Vehicles </div><div id="a21230" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:99px;">5 years</div><div id="a21232" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:116px;">Laboratory and computer equipment </div><div id="a21234" style="position:absolute;font-family:'Times New Roman';left:686px;top:116px;">3 years</div><div id="a21236" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:133px;">Software </div><div id="a21238" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:133px;">3 years</div></div></div></div>
P15Y
P5Y
P3Y
<div id="TextBlockContainer1575" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:169px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21258" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Impairment of long-lived assets </div><div id="a21263" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Long-lived<div style="display:inline-block;width:6px"> </div>assets,<div style="display:inline-block;width:6px"> </div>comprised<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>property<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>equipment,<div style="display:inline-block;width:6px"> </div>are<div style="display:inline-block;width:6px"> </div>tested<div style="display:inline-block;width:6px"> </div>for<div style="display:inline-block;width:6px"> </div>recoverability<div style="display:inline-block;width:6px"> </div>whenever<div style="display:inline-block;width:6px"> </div>events<div style="display:inline-block;width:6px"> </div>or<div style="display:inline-block;width:6px"> </div>changes<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:6px"> </div>business </div><div id="a21268" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">circumstances indicate<div style="display:inline-block;width:6px"> </div>that<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>carrying<div style="display:inline-block;width:5px"> </div>amount<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>assets<div style="display:inline-block;width:5px"> </div>may<div style="display:inline-block;width:5px"> </div>not<div style="display:inline-block;width:5px"> </div>be<div style="display:inline-block;width:5px"> </div>fully<div style="display:inline-block;width:5px"> </div>recoverable.<div style="display:inline-block;width:5px"> </div>Factors<div style="display:inline-block;width:5px"> </div>that<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>considers<div style="display:inline-block;width:5px"> </div>in </div><div id="a21270" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">deciding<div style="display:inline-block;width:5px"> </div>when<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>perform<div style="display:inline-block;width:5px"> </div>an<div style="display:inline-block;width:5px"> </div>impairment<div style="display:inline-block;width:5px"> </div>review<div style="display:inline-block;width:5px"> </div>include<div style="display:inline-block;width:5px"> </div>significant<div style="display:inline-block;width:5px"> </div>underperformance<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>business<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>relation<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>expectations, </div><div id="a21272" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">significant negative industry or<div style="display:inline-block;width:5px"> </div>economic trends and significant<div style="display:inline-block;width:5px"> </div>changes or planned changes<div style="display:inline-block;width:5px"> </div>in the use of<div style="display:inline-block;width:5px"> </div>the assets. If an<div style="display:inline-block;width:5px"> </div>impairment </div><div id="a21276" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">review<div style="display:inline-block;width:5px"> </div>is<div style="display:inline-block;width:5px"> </div>performed<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>evaluate<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>long-lived<div style="display:inline-block;width:5px"> </div>asset<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>recoverability,<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>compares<div style="display:inline-block;width:5px"> </div>forecasts<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>undiscounted<div style="display:inline-block;width:5px"> </div>cash<div style="display:inline-block;width:5px"> </div>flows </div><div id="a21279" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">expected to<div style="display:inline-block;width:6px"> </div>result from<div style="display:inline-block;width:6px"> </div>the use<div style="display:inline-block;width:6px"> </div>and eventual<div style="display:inline-block;width:6px"> </div>disposition of<div style="display:inline-block;width:6px"> </div>the long-lived<div style="display:inline-block;width:6px"> </div>asset to<div style="display:inline-block;width:6px"> </div>its carrying<div style="display:inline-block;width:6px"> </div>value. An<div style="display:inline-block;width:6px"> </div>impairment loss<div style="display:inline-block;width:6px"> </div>would be </div><div id="a21284" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">recognized when estimated undiscounted future cash flows expected to result from the use of an asset<div style="display:inline-block;width:2px"> </div>are less than its carrying amount. </div><div id="a21286" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">The impairment loss would be<div style="display:inline-block;width:5px"> </div>based on the excess of<div style="display:inline-block;width:5px"> </div>the carrying value of the<div style="display:inline-block;width:5px"> </div>impaired asset over its fair value,<div style="display:inline-block;width:5px"> </div>determined based on </div><div id="a21289" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">discounted cash flows. To date, the Company has not recorded any impairment losses or disposals on long-lived assets.</div></div>
<div id="TextBlockContainer1577" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:140px;height:16px;display:inline-block;"><div id="a21294" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Deferred offering costs</div></div>
<div id="TextBlockContainer1579" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:276px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21313" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Fair value measurements </div><div id="a21317" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Certain assets and liabilities<div style="display:inline-block;width:2px"> </div>are carried at fair value<div style="display:inline-block;width:2px"> </div>under GAAP. Fair value is defined as the exchange<div style="display:inline-block;width:2px"> </div>price that would be received<div style="display:inline-block;width:2px"> </div>for </div><div id="a21319" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">an asset or paid to transfer a liability (an<div style="display:inline-block;width:5px"> </div>exit price) in the principal or most advantageous market for<div style="display:inline-block;width:5px"> </div>the asset or liability in an orderly </div><div id="a21321" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">transaction between market participants on the measurement date. Valuation<div style="display:inline-block;width:6px"> </div>techniques used to measure fair value must maximize<div style="display:inline-block;width:5px"> </div>the </div><div id="a21323" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">use of observable inputs and minimize the </div><div id="a21326" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following </div><div id="a21328" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: </div><div id="a21332" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">Level 1—Quoted prices in active markets that are identical assets or liabilities. </div><div id="a21338" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">Level 2—Observable inputs (other than Level 1<div style="display:inline-block;width:5px"> </div>quoted prices), such as quoted prices<div style="display:inline-block;width:5px"> </div>in active markets for similar assets<div style="display:inline-block;width:5px"> </div>or liabilities, </div><div id="a21342" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">quoted prices<div style="display:inline-block;width:5px"> </div>in markets<div style="display:inline-block;width:5px"> </div>that are<div style="display:inline-block;width:5px"> </div>not active<div style="display:inline-block;width:5px"> </div>for identical<div style="display:inline-block;width:5px"> </div>or similar<div style="display:inline-block;width:5px"> </div>assets or<div style="display:inline-block;width:5px"> </div>liabilities, or<div style="display:inline-block;width:5px"> </div>other inputs<div style="display:inline-block;width:5px"> </div>that are<div style="display:inline-block;width:5px"> </div>observable or<div style="display:inline-block;width:6px"> </div>can be </div><div id="a21344" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">corroborated by observable market data. </div><div id="a21347" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">Level 3—Unobservable inputs that are supported by<div style="display:inline-block;width:5px"> </div>little or no market activity that<div style="display:inline-block;width:5px"> </div>are significant to determining the fair<div style="display:inline-block;width:5px"> </div>value of the </div><div id="a21351" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.</div></div>
<div id="TextBlockContainer1581" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:108px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21363" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Convertible notes payable </div><div id="a21366" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company issued<div style="display:inline-block;width:5px"> </div>convertible notes payable<div style="display:inline-block;width:5px"> </div>at various times<div style="display:inline-block;width:5px"> </div>from 2014 to<div style="display:inline-block;width:5px"> </div>2021. The Company<div style="display:inline-block;width:5px"> </div>accounts for the<div style="display:inline-block;width:5px"> </div>convertible notes </div><div id="a21370" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">payable at fair value in accordance with ASC 480, Distinguishing Liabilities from Equity (“ASC 480”). The notes payable with related </div><div id="a21372" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">parties are<div style="display:inline-block;width:5px"> </div>accounted for<div style="display:inline-block;width:5px"> </div>as straight<div style="display:inline-block;width:5px"> </div>debt under<div style="display:inline-block;width:5px"> </div>ASC 470,<div style="display:inline-block;width:5px"> </div>Debt (“ASC<div style="display:inline-block;width:5px"> </div>470”). The<div style="display:inline-block;width:5px"> </div>Company has<div style="display:inline-block;width:5px"> </div>elected to<div style="display:inline-block;width:5px"> </div>separate interest<div style="display:inline-block;width:5px"> </div>expense </div><div id="a21376" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">from the<div style="display:inline-block;width:2px"> </div>full change<div style="display:inline-block;width:2px"> </div>in fair<div style="display:inline-block;width:2px"> </div>value of<div style="display:inline-block;width:2px"> </div>the convertible<div style="display:inline-block;width:2px"> </div>notes. Debt<div style="display:inline-block;width:2px"> </div>issuance costs<div style="display:inline-block;width:2px"> </div>incurred by<div style="display:inline-block;width:2px"> </div>the Company<div style="display:inline-block;width:2px"> </div>are amortized<div style="display:inline-block;width:2px"> </div>to interest expense </div><div id="a21378" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">over the term of the convertible notes using the effective interest method in the accompanying consolidated statements of operations.</div></div>
<div id="TextBlockContainer1583" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:77px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21386" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Debt issuance costs </div><div id="a21389" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company records<div style="display:inline-block;width:5px"> </div>debt issuance costs<div style="display:inline-block;width:5px"> </div>as a reduction<div style="display:inline-block;width:5px"> </div>to the<div style="display:inline-block;width:5px"> </div>carrying value of<div style="display:inline-block;width:5px"> </div>the debt. The<div style="display:inline-block;width:5px"> </div>debt discounts are<div style="display:inline-block;width:5px"> </div>amortized over the </div><div id="a21391" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">term of the debt using<div style="display:inline-block;width:5px"> </div>the effective interest method and recognized<div style="display:inline-block;width:5px"> </div>as interest expense in the accompanying<div style="display:inline-block;width:5px"> </div>consolidated statement of </div><div id="a21393" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">operations.</div></div>
<div id="TextBlockContainer1587" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21404" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Simple Agreement for Future Equity—SAFE </div><div id="a21410" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company accounts for SAFEs at<div style="display:inline-block;width:5px"> </div>fair value in accordance with ASC<div style="display:inline-block;width:5px"> </div>480. The SAFEs are subject to<div style="display:inline-block;width:5px"> </div>revaluation at the end of each </div><div id="a21412" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">reporting period, with changes in fair value recognized in the accompanying consolidated statements of operations. </div><div id="a21416" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">On March 2, 2021,<div style="display:inline-block;width:2px"> </div>each SAFE that<div style="display:inline-block;width:2px"> </div>was outstanding was converted<div style="display:inline-block;width:2px"> </div>into shares of the<div style="display:inline-block;width:2px"> </div>Company’s Series A preferred stock<div style="display:inline-block;width:2px"> </div>(see Note 11).</div></div>
<div id="TextBlockContainer1589" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:78px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21420" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Classification of convertible preferred stock </div><div id="a21423" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company<div style="display:inline-block;width:2px"> </div>records all<div style="display:inline-block;width:2px"> </div>convertible preferred<div style="display:inline-block;width:2px"> </div>stock at<div style="display:inline-block;width:2px"> </div>its original<div style="display:inline-block;width:2px"> </div>issuance price,<div style="display:inline-block;width:2px"> </div>less direct<div style="display:inline-block;width:2px"> </div>and incremental<div style="display:inline-block;width:2px"> </div>issuance costs,<div style="display:inline-block;width:2px"> </div>as stipulated </div><div id="a21425" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">by its terms. The Company’s convertible preferred stock is classified<div style="display:inline-block;width:2px"> </div>outside of stockholders’ deficit because the<div style="display:inline-block;width:2px"> </div>holders of such shares </div><div id="a21428" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">have liquidation rights in the event of a deemed liquidation that, in certain situations, are not solely within the control of the Company.</div></div>
<div id="TextBlockContainer1591" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:446px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21437" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Revenue recognition </div><div id="a21440" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts With Customers (“ASC 606”). Under </div><div id="a21441" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or<div style="display:inline-block;width:5px"> </div>services, in an amount that reflects the </div><div id="a21443" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">consideration that<div style="display:inline-block;width:2px"> </div>the entity<div style="display:inline-block;width:2px"> </div>expects to be<div style="display:inline-block;width:1px"> </div>entitled to<div style="display:inline-block;width:2px"> </div>in exchange<div style="display:inline-block;width:2px"> </div>for those<div style="display:inline-block;width:2px"> </div>goods or services.<div style="display:inline-block;width:1px"> </div>The Company applies<div style="display:inline-block;width:1px"> </div>ASC 606 to<div style="display:inline-block;width:2px"> </div>contracts </div><div id="a21445" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">with customers only when it is probable that the entity will collect the consideration to which it is entitled in exchange for the goods or </div><div id="a21447" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">services it transfers to the customer. </div><div id="a21452" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">The Company assesses the<div style="display:inline-block;width:5px"> </div>goods or services promised<div style="display:inline-block;width:5px"> </div>within each contract and<div style="display:inline-block;width:5px"> </div>determines those that are<div style="display:inline-block;width:5px"> </div>performance obligations by </div><div id="a21454" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">evaluating<div style="display:inline-block;width:6px"> </div>whether<div style="display:inline-block;width:6px"> </div>each<div style="display:inline-block;width:6px"> </div>promised<div style="display:inline-block;width:6px"> </div>good<div style="display:inline-block;width:6px"> </div>or<div style="display:inline-block;width:6px"> </div>service<div style="display:inline-block;width:6px"> </div>is<div style="display:inline-block;width:6px"> </div>distinct.<div style="display:inline-block;width:6px"> </div>This<div style="display:inline-block;width:6px"> </div>assessment<div style="display:inline-block;width:6px"> </div>involves<div style="display:inline-block;width:6px"> </div>subjective<div style="display:inline-block;width:6px"> </div>determinations<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>requires </div><div id="a21456" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">management to make judgments about the individual promised goods or services, the intended benefit of<div style="display:inline-block;width:2px"> </div>the contract and whether each </div><div id="a21460" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">good or<div style="display:inline-block;width:6px"> </div>service is<div style="display:inline-block;width:5px"> </div>separately identifiable<div style="display:inline-block;width:5px"> </div>from the<div style="display:inline-block;width:6px"> </div>other aspects<div style="display:inline-block;width:6px"> </div>of the<div style="display:inline-block;width:6px"> </div>contractual relationship.<div style="display:inline-block;width:5px"> </div>If a<div style="display:inline-block;width:6px"> </div>promised good<div style="display:inline-block;width:5px"> </div>or service<div style="display:inline-block;width:6px"> </div>is not </div><div id="a21462" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">distinct, an entity is required to combine that good or service with other promised goods or services<div style="display:inline-block;width:2px"> </div>until it identifies a bundle of goods </div><div id="a21464" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">or services that is distinct. </div><div id="a21467" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">If the consideration promised in a contract includes a variable amount, the Company<div style="display:inline-block;width:5px"> </div>estimates the amount of consideration to which it </div><div id="a21469" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">will be<div style="display:inline-block;width:6px"> </div>entitled in<div style="display:inline-block;width:6px"> </div>exchange for<div style="display:inline-block;width:5px"> </div>transferring the<div style="display:inline-block;width:5px"> </div>promised goods<div style="display:inline-block;width:5px"> </div>or services<div style="display:inline-block;width:5px"> </div>to a<div style="display:inline-block;width:6px"> </div>customer.<div style="display:inline-block;width:5px"> </div>The Company<div style="display:inline-block;width:5px"> </div>determines the<div style="display:inline-block;width:5px"> </div>amount of </div><div id="a21471" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">variable consideration by using the most likely amount method and applies the constraint on variable consideration, which requires the </div><div id="a21473" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">amount included in the<div style="display:inline-block;width:2px"> </div>transaction price to be<div style="display:inline-block;width:2px"> </div>constrained to the amount<div style="display:inline-block;width:2px"> </div>for which it is<div style="display:inline-block;width:2px"> </div>probable that a significant<div style="display:inline-block;width:2px"> </div>reversal of cumulative </div><div id="a21477" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">revenue recognized<div style="display:inline-block;width:5px"> </div>will not<div style="display:inline-block;width:5px"> </div>occur.<div style="display:inline-block;width:5px"> </div>At the<div style="display:inline-block;width:5px"> </div>end of<div style="display:inline-block;width:5px"> </div>each subsequent<div style="display:inline-block;width:5px"> </div>reporting period,<div style="display:inline-block;width:5px"> </div>the Company<div style="display:inline-block;width:5px"> </div>re-evaluates the<div style="display:inline-block;width:5px"> </div>estimated variable </div><div id="a21480" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:307px;">consideration included in the transaction price<div style="display:inline-block;width:2px"> </div>and any related constraint, and if necessary, adjusts its estimate<div style="display:inline-block;width:2px"> </div>of the overall transaction </div><div id="a21483" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:322px;">price. </div><div id="a21486" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:353px;">The Company recognizes as revenue the<div style="display:inline-block;width:2px"> </div>amount of the transaction price that<div style="display:inline-block;width:2px"> </div>is allocated to the respective performance<div style="display:inline-block;width:2px"> </div>obligation when </div><div id="a21488" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:368px;">(or as) each performance obligation is satisfied, either at a<div style="display:inline-block;width:5px"> </div>point in time or over time, and, if over<div style="display:inline-block;width:5px"> </div>time, recognition is based on the use </div><div id="a21490" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:383px;">of an output or input method. In the Company’s sole revenue contract, the performance obligation was satisfied at the point in time the </div><div id="a21492" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:399px;">data and related samples were made available for the customer’s review. </div><div id="a21495" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:429px;">For its sales of ELISA tests, the Company recognizes revenue once control is transferred upon delivery to the customer.</div></div>
<div id="TextBlockContainer1593" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:154px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21498" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Taiwan Centers for Disease Control grant </div><div id="a21504" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">United<div style="display:inline-block;width:5px"> </div>Biomedical,<div style="display:inline-block;width:5px"> </div>Inc.,<div style="display:inline-block;width:5px"> </div>Asia<div style="display:inline-block;width:5px"> </div>(“UBI-Asia”),<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>related<div style="display:inline-block;width:5px"> </div>party<div style="display:inline-block;width:5px"> </div>through<div style="display:inline-block;width:5px"> </div>common<div style="display:inline-block;width:5px"> </div>ownership<div style="display:inline-block;width:5px"> </div>which<div style="display:inline-block;width:5px"> </div>is<div style="display:inline-block;width:5px"> </div>responsible<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>applying<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>and </div><div id="a21507" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">managing<div style="display:inline-block;width:5px"> </div>grants<div style="display:inline-block;width:5px"> </div>on<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company’s<div style="display:inline-block;width:6px"> </div>behalf,<div style="display:inline-block;width:5px"> </div>was<div style="display:inline-block;width:5px"> </div>awarded<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>grant<div style="display:inline-block;width:5px"> </div>by<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Taiwan<div style="display:inline-block;width:6px"> </div>Centers<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>Disease<div style="display:inline-block;width:5px"> </div>Control<div style="display:inline-block;width:5px"> </div>(“Taiwan<div style="display:inline-block;width:6px"> </div>CDC”)<div style="display:inline-block;width:5px"> </div>for </div><div id="a21509" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">COVID-19 vaccine development.<div style="display:inline-block;width:2px"> </div>UBI-Asia contracted with<div style="display:inline-block;width:2px"> </div>the Company to<div style="display:inline-block;width:2px"> </div>conduct a two-phase<div style="display:inline-block;width:2px"> </div>study of a<div style="display:inline-block;width:2px"> </div>COVID-19 vaccine clinical </div><div id="a21518" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">trial in Taiwan.<div style="display:inline-block;width:6px"> </div>The grant provides that<div style="display:inline-block;width:5px"> </div>costs incurred to complete<div style="display:inline-block;width:5px"> </div>the two phases of<div style="display:inline-block;width:5px"> </div>the clinical trial will<div style="display:inline-block;width:5px"> </div>be reimbursed based on<div style="display:inline-block;width:5px"> </div>the </div><div id="a21520" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">achievement<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>certain<div style="display:inline-block;width:5px"> </div>milestones<div style="display:inline-block;width:5px"> </div>as<div style="display:inline-block;width:5px"> </div>defined<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>agreement.<div style="display:inline-block;width:5px"> </div>At<div style="display:inline-block;width:5px"> </div>each<div style="display:inline-block;width:5px"> </div>reporting<div style="display:inline-block;width:5px"> </div>date,<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>assesses<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>status<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>all<div style="display:inline-block;width:5px"> </div>the </div><div id="a21523" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">activities involved in completing the clinical trials in relation to the milestones. The Company accounts for the amounts that have been </div><div id="a21525" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">received from the<div style="display:inline-block;width:5px"> </div>Taiwan<div style="display:inline-block;width:5px"> </div>CDC to reimburse<div style="display:inline-block;width:5px"> </div>costs incurred on<div style="display:inline-block;width:5px"> </div>the clinical trials<div style="display:inline-block;width:5px"> </div>and not<div style="display:inline-block;width:5px"> </div>expected to be<div style="display:inline-block;width:5px"> </div>refunded back<div style="display:inline-block;width:5px"> </div>to the Taiwan </div><div id="a21527" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">CDC as contra research and development expenses in the accompanying consolidated statements of operations.</div></div>
<div id="TextBlockContainer1597" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:154px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21543" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Research and development </div><div id="a21548" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Research<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:5px"> </div>development<div style="display:inline-block;width:5px"> </div>expenses<div style="display:inline-block;width:5px"> </div>include<div style="display:inline-block;width:5px"> </div>employee<div style="display:inline-block;width:5px"> </div>related<div style="display:inline-block;width:5px"> </div>costs,<div style="display:inline-block;width:6px"> </div>consulting,<div style="display:inline-block;width:5px"> </div>contract<div style="display:inline-block;width:5px"> </div>research,<div style="display:inline-block;width:5px"> </div>depreciation,<div style="display:inline-block;width:5px"> </div>rent,<div style="display:inline-block;width:5px"> </div>stock-based </div><div id="a21551" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">compensation and other corporate costs attributable to research and development activities and are expensed as incurred. </div><div id="a21555" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">The Company has entered into various research, development and manufacturing contracts, some of which are with related parties (see </div><div id="a21557" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">Note 18). These<div style="display:inline-block;width:5px"> </div>agreements are generally<div style="display:inline-block;width:5px"> </div>cancelable by either<div style="display:inline-block;width:5px"> </div>party,<div style="display:inline-block;width:5px"> </div>and related payments<div style="display:inline-block;width:5px"> </div>are recorded as<div style="display:inline-block;width:5px"> </div>research and development </div><div id="a21561" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">expenses as incurred.<div style="display:inline-block;width:1px"> </div>The Company records<div style="display:inline-block;width:1px"> </div>accruals for estimated<div style="display:inline-block;width:2px"> </div>ongoing research costs.<div style="display:inline-block;width:1px"> </div>When evaluating the<div style="display:inline-block;width:2px"> </div>adequacy of the<div style="display:inline-block;width:2px"> </div>accrued </div><div id="a21563" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">liabilities, the Company<div style="display:inline-block;width:5px"> </div>analyzes progress of<div style="display:inline-block;width:5px"> </div>the studies or<div style="display:inline-block;width:5px"> </div>trials, including the<div style="display:inline-block;width:5px"> </div>phase or<div style="display:inline-block;width:5px"> </div>completion of events,<div style="display:inline-block;width:5px"> </div>invoices received and </div><div id="a21565" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">contracted costs. The Company’s historical accrual estimates have not been materially different from the actual costs.</div></div>
<div id="TextBlockContainer1599" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21568" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Patent costs </div><div id="a21571" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Patent-related costs<div style="display:inline-block;width:2px"> </div>incurred in<div style="display:inline-block;width:2px"> </div>connection with<div style="display:inline-block;width:2px"> </div>filing and<div style="display:inline-block;width:2px"> </div>prosecuting patent<div style="display:inline-block;width:2px"> </div>applications are<div style="display:inline-block;width:2px"> </div>expensed as<div style="display:inline-block;width:2px"> </div>incurred due<div style="display:inline-block;width:2px"> </div>to the<div style="display:inline-block;width:2px"> </div>uncertainty </div><div id="a21576" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">relating to the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses.</div></div>
<div id="TextBlockContainer1601" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:245px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21579" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Stock-based compensation </div><div id="a21584" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company measures all stock-based awards granted to employees, directors and non-employees based on the fair<div style="display:inline-block;width:5px"> </div>value on the date </div><div id="a21591" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">of grant and recognizes compensation<div style="display:inline-block;width:5px"> </div>expense of those awards over<div style="display:inline-block;width:5px"> </div>the requisite service period, which<div style="display:inline-block;width:5px"> </div>is generally the vesting period </div><div id="a21593" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">of the respective award. Forfeitures are accounted for as they occur. </div><div id="a21597" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">The Company classifies<div style="display:inline-block;width:5px"> </div>stock-based compensation expense<div style="display:inline-block;width:5px"> </div>in its<div style="display:inline-block;width:5px"> </div>consolidated statements of<div style="display:inline-block;width:5px"> </div>operations in the<div style="display:inline-block;width:5px"> </div>same manner in<div style="display:inline-block;width:5px"> </div>which </div><div id="a21602" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">the award recipient’s payroll costs are classified or in which the award recipient’s service payments are classified. </div><div id="a21606" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">Prior to<div style="display:inline-block;width:5px"> </div>the Company's IPO<div style="display:inline-block;width:5px"> </div>in November 2021,<div style="display:inline-block;width:5px"> </div>there was no<div style="display:inline-block;width:5px"> </div>public market for<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:5px"> </div>common stock and<div style="display:inline-block;width:5px"> </div>the estimated fair </div><div id="a21608" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">value of its common stock was determined by its most recently available third-party valuations of common stock. There are significant </div><div id="a21612" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">judgments<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>estimates<div style="display:inline-block;width:6px"> </div>inherent<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>determination<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>fair<div style="display:inline-block;width:6px"> </div>value<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>Company’s<div style="display:inline-block;width:7px"> </div>common<div style="display:inline-block;width:6px"> </div>stock.<div style="display:inline-block;width:6px"> </div>These<div style="display:inline-block;width:6px"> </div>estimates<div style="display:inline-block;width:6px"> </div>and </div><div id="a21613" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">assumptions include<div style="display:inline-block;width:2px"> </div>a number<div style="display:inline-block;width:2px"> </div>of objective<div style="display:inline-block;width:2px"> </div>and subjective<div style="display:inline-block;width:2px"> </div>factors, including<div style="display:inline-block;width:2px"> </div>external market<div style="display:inline-block;width:2px"> </div>conditions, the<div style="display:inline-block;width:2px"> </div>prices at<div style="display:inline-block;width:2px"> </div>which the<div style="display:inline-block;width:2px"> </div>Company </div><div id="a21615" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">sold shares of preferred<div style="display:inline-block;width:5px"> </div>securities, the superior rights<div style="display:inline-block;width:5px"> </div>and preferences of securities senior<div style="display:inline-block;width:5px"> </div>to the common securities at<div style="display:inline-block;width:5px"> </div>the time of, and </div><div id="a21618" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">the likelihood<div style="display:inline-block;width:2px"> </div>of, achieving<div style="display:inline-block;width:2px"> </div>a liquidity<div style="display:inline-block;width:2px"> </div>event, such<div style="display:inline-block;width:2px"> </div>as an<div style="display:inline-block;width:2px"> </div>initial public<div style="display:inline-block;width:2px"> </div>offering (“IPO”)<div style="display:inline-block;width:2px"> </div>or sale.<div style="display:inline-block;width:2px"> </div>Significant changes<div style="display:inline-block;width:2px"> </div>to the<div style="display:inline-block;width:2px"> </div>key assumptions </div><div id="a21620" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">used in the valuations could result in different fair values of common stock at each valuation date.</div></div>
<div id="TextBlockContainer1605" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:86px;height:16px;display:inline-block;"><div id="a21705" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Income taxes</div></div>
<div id="TextBlockContainer1607" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:307px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21755" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Net loss per share </div><div id="a21758" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company<div style="display:inline-block;width:2px"> </div>follows the<div style="display:inline-block;width:2px"> </div>two-class method<div style="display:inline-block;width:2px"> </div>when computing<div style="display:inline-block;width:2px"> </div>net loss<div style="display:inline-block;width:2px"> </div>per share<div style="display:inline-block;width:2px"> </div>as the<div style="display:inline-block;width:2px"> </div>Company has<div style="display:inline-block;width:2px"> </div>issued shares<div style="display:inline-block;width:2px"> </div>that meet<div style="display:inline-block;width:2px"> </div>the definition </div><div id="a21761" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">of participating<div style="display:inline-block;width:5px"> </div>securities. The<div style="display:inline-block;width:5px"> </div>two-class method<div style="display:inline-block;width:5px"> </div>determines net<div style="display:inline-block;width:5px"> </div>loss per<div style="display:inline-block;width:5px"> </div>share for<div style="display:inline-block;width:5px"> </div>each class<div style="display:inline-block;width:5px"> </div>of common<div style="display:inline-block;width:5px"> </div>and participating<div style="display:inline-block;width:5px"> </div>securities </div><div id="a21765" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">according to dividends declared or accumulated, and participation rights<div style="display:inline-block;width:5px"> </div>in undistributed earnings. The two-class method requires loss </div><div id="a21768" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">available to<div style="display:inline-block;width:2px"> </div>common stockholders<div style="display:inline-block;width:2px"> </div>for the<div style="display:inline-block;width:2px"> </div>period to<div style="display:inline-block;width:2px"> </div>be allocated<div style="display:inline-block;width:2px"> </div>between common<div style="display:inline-block;width:2px"> </div>and participating<div style="display:inline-block;width:2px"> </div>securities based<div style="display:inline-block;width:2px"> </div>upon their<div style="display:inline-block;width:2px"> </div>respective </div><div id="a21772" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">rights to receive dividends as if all income for the period had been distributed. </div><div id="a21775" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">Basic net<div style="display:inline-block;width:5px"> </div>loss per<div style="display:inline-block;width:5px"> </div>share is<div style="display:inline-block;width:5px"> </div>computed by<div style="display:inline-block;width:5px"> </div>dividing the<div style="display:inline-block;width:5px"> </div>net loss by<div style="display:inline-block;width:5px"> </div>the weighted average<div style="display:inline-block;width:5px"> </div>number of<div style="display:inline-block;width:5px"> </div>common shares outstanding<div style="display:inline-block;width:5px"> </div>for the </div><div id="a21777" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">period. Diluted net loss is computed by<div style="display:inline-block;width:5px"> </div>adjusting net loss to reallocate undistributed earnings based<div style="display:inline-block;width:5px"> </div>on the potential impact of dilutive </div><div id="a21780" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">securities. Diluted net<div style="display:inline-block;width:5px"> </div>loss per share<div style="display:inline-block;width:5px"> </div>is computed by<div style="display:inline-block;width:5px"> </div>dividing the diluted<div style="display:inline-block;width:5px"> </div>net loss by<div style="display:inline-block;width:5px"> </div>the weighted average<div style="display:inline-block;width:5px"> </div>number of common<div style="display:inline-block;width:5px"> </div>shares </div><div id="a21782" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">outstanding for<div style="display:inline-block;width:5px"> </div>the period,<div style="display:inline-block;width:5px"> </div>including potential<div style="display:inline-block;width:5px"> </div>dilutive common<div style="display:inline-block;width:5px"> </div>stock. For<div style="display:inline-block;width:5px"> </div>purpose of<div style="display:inline-block;width:5px"> </div>this calculation,<div style="display:inline-block;width:5px"> </div>outstanding options,<div style="display:inline-block;width:5px"> </div>unvested </div><div id="a21784" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">restricted stock and convertible preferred stock are considered potential dilutive common stock and are excluded from the computation </div><div id="a21786" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">of net loss per share as their effect is anti-dilutive. </div><div id="a21791" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">The Company’s<div style="display:inline-block;width:6px"> </div>convertible preferred<div style="display:inline-block;width:5px"> </div>stock contractually<div style="display:inline-block;width:5px"> </div>entitles the<div style="display:inline-block;width:6px"> </div>holders of<div style="display:inline-block;width:6px"> </div>such shares<div style="display:inline-block;width:6px"> </div>to participate<div style="display:inline-block;width:5px"> </div>in dividends<div style="display:inline-block;width:6px"> </div>but does<div style="display:inline-block;width:6px"> </div>not </div><div id="a21795" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">contractually require the holders of such shares to participate in losses of the Company. Accordingly, in periods in which the Company </div><div id="a21797" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">reports a<div style="display:inline-block;width:6px"> </div>net loss,<div style="display:inline-block;width:5px"> </div>such losses<div style="display:inline-block;width:5px"> </div>are not<div style="display:inline-block;width:6px"> </div>allocated to<div style="display:inline-block;width:5px"> </div>such participating<div style="display:inline-block;width:5px"> </div>securities. In<div style="display:inline-block;width:5px"> </div>periods in<div style="display:inline-block;width:6px"> </div>which the<div style="display:inline-block;width:5px"> </div>Company reports<div style="display:inline-block;width:5px"> </div>a net<div style="display:inline-block;width:6px"> </div>loss, </div><div id="a21799" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">diluted net loss per share is the same as basic net loss per share attributable to common stockholders, since dilutive common shares are </div><div id="a21802" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">not assumed to be outstanding if their effect is anti-dilutive.</div></div>
<div id="TextBlockContainer1610" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:184px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21883" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">3. Fair Value Measurements </div><div id="a21892" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company's money<div style="display:inline-block;width:2px"> </div>market accounts are shown<div style="display:inline-block;width:2px"> </div>at fair value based<div style="display:inline-block;width:2px"> </div>on unadjusted quoted<div style="display:inline-block;width:2px"> </div>market prices in active<div style="display:inline-block;width:2px"> </div>markets for identical </div><div id="a21895" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">assets. </div><div id="a21898" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">The value for the Convertible Notes, SAFE and<div style="display:inline-block;width:5px"> </div>warrant liability balances as of December 31, 2020 are<div style="display:inline-block;width:5px"> </div>based on significant inputs not </div><div id="a21901" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">observable in the market, which represents a Level 3 measurement within the fair value hierarchy. In accordance with the Contribution </div><div id="a21903" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">and Exchange<div style="display:inline-block;width:5px"> </div>Agreement, on<div style="display:inline-block;width:5px"> </div>March 2,<div style="display:inline-block;width:5px"> </div>2021 the<div style="display:inline-block;width:5px"> </div>Convertible Notes,<div style="display:inline-block;width:5px"> </div>SAFEs and<div style="display:inline-block;width:5px"> </div>warrants were<div style="display:inline-block;width:5px"> </div>all converted<div style="display:inline-block;width:5px"> </div>into Series<div style="display:inline-block;width:5px"> </div>A preferred </div><div id="a21905" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">stock. </div><div id="a21908" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">The following<div style="display:inline-block;width:5px"> </div>table presents<div style="display:inline-block;width:5px"> </div>information about<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:6px"> </div>financial instruments<div style="display:inline-block;width:5px"> </div>measured at<div style="display:inline-block;width:5px"> </div>fair value<div style="display:inline-block;width:5px"> </div>on a<div style="display:inline-block;width:5px"> </div>recurring basis<div style="display:inline-block;width:5px"> </div>and </div><div id="a21910" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">indicate the level of the fair value hierarchy used to determine such fair values (in thousands):</div></div><div id="TextBlockContainer1620" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:139px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22169" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">During the years ended December 31, 2021 and 2020, there were </div><div id="a22169_62_2" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:355px;top:0px;">no</div><div id="a22169_64_50" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:368px;top:0px;"><div style="display:inline-block;width:3px"> </div>transfers between Level 1, Level 2 and Level 3.<div style="display:inline-block;width:3px"> </div></div><div id="a22173" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:31px;">Convertible Notes </div><div id="a22176" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">During the years ended December 31, 2021 and<div style="display:inline-block;width:5px"> </div>2020, the Company issued Convertible Notes. In accordance with<div style="display:inline-block;width:5px"> </div>ASC 480, a portion </div><div id="a22178" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">of the Convertible Notes were required to<div style="display:inline-block;width:2px"> </div>be measured and accounted for at fair value<div style="display:inline-block;width:2px"> </div>at each reporting date. The Company determined </div><div id="a22180" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">the Convertible Notes requiring a<div style="display:inline-block;width:5px"> </div>measurement to fair value represent a<div style="display:inline-block;width:5px"> </div>recurring measurement that is classified within<div style="display:inline-block;width:5px"> </div>Level 3 of the </div><div id="a22183" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">fair value hierarchy wherein fair value is estimated using significant unobservable inputs.<div style="display:inline-block;width:3px"> </div></div></div><div id="TextBlockContainer1622" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:475px;height:16px;display:inline-block;"><div id="a22196" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">Convertible Notes requiring a measurement to fair value are as follows (in thousands):</div></div><div id="TextBlockContainer1630" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:231px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22285" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">The<div style="display:inline-block;width:5px"> </div>fair<div style="display:inline-block;width:5px"> </div>value<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Convertible<div style="display:inline-block;width:5px"> </div>Notes<div style="display:inline-block;width:5px"> </div>was<div style="display:inline-block;width:5px"> </div>estimated<div style="display:inline-block;width:5px"> </div>using<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>straight<div style="display:inline-block;width:5px"> </div>debt<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>conversion<div style="display:inline-block;width:5px"> </div>feature<div style="display:inline-block;width:5px"> </div>valuation<div style="display:inline-block;width:5px"> </div>model<div style="display:inline-block;width:5px"> </div>consisting<div style="display:inline-block;width:5px"> </div>of </div><div id="a22287" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">probability assumptions on multiple conversion scenarios, discount rates and interest rates.<div style="display:inline-block;width:3px"> </div></div><div id="a22290" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">In accordance with the Contribution and Exchange Agreement, on March 2, 2021, the Convertible Notes were<div style="display:inline-block;width:5px"> </div>converted into Series A </div><div id="a22293" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">preferred stock.<div style="display:inline-block;width:3px"> </div></div><div id="a22296" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:92px;">Simple Agreement for Future Equity—SAFE </div><div id="a22307" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">During the years ended December 31, 2021 and 2020, the Company executed SAFE arrangements. The fair value of the SAFEs on the </div><div id="a22310" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">date of issuance<div style="display:inline-block;width:5px"> </div>was determined to<div style="display:inline-block;width:5px"> </div>equal the proceeds<div style="display:inline-block;width:5px"> </div>received by the<div style="display:inline-block;width:5px"> </div>Company.<div style="display:inline-block;width:5px"> </div>The value of<div style="display:inline-block;width:5px"> </div>the SAFEs on<div style="display:inline-block;width:5px"> </div>the dates of<div style="display:inline-block;width:5px"> </div>conversion </div><div id="a22312" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">into preferred stock<div style="display:inline-block;width:5px"> </div>was determined to<div style="display:inline-block;width:5px"> </div>be equal to<div style="display:inline-block;width:5px"> </div>the fair value<div style="display:inline-block;width:5px"> </div>of the preferred<div style="display:inline-block;width:5px"> </div>stock issued, or<div style="display:inline-block;width:5px"> </div>$</div><div id="a22312_101_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:537px;top:153px;">35.6</div><div id="a22312_105_31" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:561px;top:153px;"><div style="display:inline-block;width:4px"> </div>million during the<div style="display:inline-block;width:5px"> </div>year ended </div><div id="a22315" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">December 31, 2021 and $</div><div id="a22315_23_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:142px;top:169px;">15.6</div><div id="a22315_27_51" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:165px;top:169px;"><div style="display:inline-block;width:3px"> </div>million during the year ended December 31, 2020.<div style="display:inline-block;width:3px"> </div></div><div id="a22318" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">The following table sets forth a summary of the activities of the SAFE arrangements, which represents a recurring measurement that is </div><div id="a22320" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">classified within Level 3<div style="display:inline-block;width:2px"> </div>of the fair value hierarchy<div style="display:inline-block;width:2px"> </div>wherein fair value is estimated<div style="display:inline-block;width:2px"> </div>using significant unobservable inputs<div style="display:inline-block;width:2px"> </div>(in thousands):</div></div><div id="TextBlockContainer1636" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:110px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22382" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">In accordance with<div style="display:inline-block;width:5px"> </div>the Contribution and<div style="display:inline-block;width:5px"> </div>Exchange Agreement, on March<div style="display:inline-block;width:5px"> </div>2, 2021, the<div style="display:inline-block;width:5px"> </div>SAFEs were converted<div style="display:inline-block;width:5px"> </div>into Series A<div style="display:inline-block;width:5px"> </div>preferred </div><div id="a22384" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">stock.<div style="display:inline-block;width:3px"> </div></div><div id="a22387" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:46px;">Warrants to Purchase Series A-1 Convertible Preferred Stock & Common Stock </div><div id="a22392" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:79px;">In connection with the<div style="display:inline-block;width:2px"> </div>2020 Series A-1 convertible<div style="display:inline-block;width:2px"> </div>preferred stock (“Series A-1<div style="display:inline-block;width:2px"> </div>preferred”) financing transactions, the<div style="display:inline-block;width:2px"> </div>Company issued </div><div id="a22398" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:94px;">fully vested<div style="display:inline-block;width:5px"> </div>warrants to<div style="display:inline-block;width:5px"> </div>purchase </div><div id="a22399" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:190px;top:94px;">205,970</div><div id="a22400" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:233px;top:94px;"><div style="display:inline-block;width:4px"> </div>shares of<div style="display:inline-block;width:6px"> </div>Series A-1<div style="display:inline-block;width:5px"> </div>preferred. The<div style="display:inline-block;width:5px"> </div>warrants were<div style="display:inline-block;width:5px"> </div>issued to<div style="display:inline-block;width:5px"> </div>advisors as<div style="display:inline-block;width:5px"> </div>consideration for </div></div><div id="TextBlockContainer1638" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:231px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22412" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">assistance with the<div style="display:inline-block;width:5px"> </div>sale and issuance<div style="display:inline-block;width:5px"> </div>of the Series<div style="display:inline-block;width:5px"> </div>A-1 preferred. The<div style="display:inline-block;width:5px"> </div>warrants were determined<div style="display:inline-block;width:5px"> </div>to represent issuance<div style="display:inline-block;width:5px"> </div>costs and were </div><div id="a22416" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">recorded as a reduction in the proceeds received from the sale.<div style="display:inline-block;width:3px"> </div></div><div id="a22419" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">The warrants were issued to advisors of the company and represented non-variable contingently redeemable instruments.<div style="display:inline-block;width:8px"> </div>As such, the </div><div id="a22423" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">warrants were accounted for as liabilities and adjusted to fair value at each reporting period.<div style="display:inline-block;width:2px"> </div></div><div id="a22426" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">The warrants are exercisable on the date of issuance and have an exercise price of $</div><div id="a22426_84_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:451px;top:92px;">0.003</div><div id="a22426_89_48" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:481px;top:92px;"><div style="display:inline-block;width:3px"> </div>per share and a contractual term of ten years. </div><div id="a22429" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">In December 2020, warrants were exercised for </div><div id="a22430" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:262px;top:107px;">71,862</div><div id="a22431" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:299px;top:107px;"><div style="display:inline-block;width:3px"> </div>shares of Series A-1 at $</div><div id="a22431_26_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:433px;top:107px;">0.003</div><div id="a22431_31_52" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:463px;top:107px;"><div style="display:inline-block;width:3px"> </div>per share, resulting in cash proceeds of less than </div><div id="a22435" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">$</div><div id="a22435_1_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:11px;top:123px;">1,000</div><div id="a22435_6_48" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:41px;top:123px;">.<div style="display:inline-block;width:5px"> </div>As<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>December<div style="display:inline-block;width:5px"> </div>31,<div style="display:inline-block;width:5px"> </div>2020,<div style="display:inline-block;width:5px"> </div>warrants<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>purchase </div><div id="a22436" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:323px;top:123px;">134,106</div><div id="a22437" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:366px;top:123px;"><div style="display:inline-block;width:5px"> </div>shares<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>Series<div style="display:inline-block;width:5px"> </div>A-1<div style="display:inline-block;width:5px"> </div>preferred<div style="display:inline-block;width:5px"> </div>were<div style="display:inline-block;width:5px"> </div>outstanding.<div style="display:inline-block;width:5px"> </div>The<div style="display:inline-block;width:5px"> </div>Company </div><div id="a22442" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">continued to re-measure the fair value<div style="display:inline-block;width:5px"> </div>of the liability associated with the<div style="display:inline-block;width:5px"> </div>warrant to purchase shares of Series<div style="display:inline-block;width:5px"> </div>A-1 preferred at the end </div><div id="a22447" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">of<div style="display:inline-block;width:5px"> </div>each<div style="display:inline-block;width:5px"> </div>reporting<div style="display:inline-block;width:5px"> </div>period<div style="display:inline-block;width:5px"> </div>until<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Reorganization,<div style="display:inline-block;width:5px"> </div>when<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>warrant<div style="display:inline-block;width:5px"> </div>converted<div style="display:inline-block;width:5px"> </div>into<div style="display:inline-block;width:5px"> </div>Series<div style="display:inline-block;width:5px"> </div>A<div style="display:inline-block;width:5px"> </div>preferred<div style="display:inline-block;width:5px"> </div>stock<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>subsequently,<div style="display:inline-block;width:6px"> </div>in </div><div id="a22449" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">connection with the IPO, converted into Class A common stock. </div><div id="a22452" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">The<div style="display:inline-block;width:5px"> </div>following table<div style="display:inline-block;width:6px"> </div>sets<div style="display:inline-block;width:5px"> </div>forth a<div style="display:inline-block;width:6px"> </div>summary of<div style="display:inline-block;width:6px"> </div>the activity<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:5px"> </div>the warrant<div style="display:inline-block;width:6px"> </div>liability which<div style="display:inline-block;width:6px"> </div>represented a<div style="display:inline-block;width:6px"> </div>recurring measurement<div style="display:inline-block;width:6px"> </div>that<div style="display:inline-block;width:5px"> </div>is </div><div id="a22454" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">classified within Level 3<div style="display:inline-block;width:2px"> </div>of the fair value hierarchy<div style="display:inline-block;width:2px"> </div>wherein fair value is estimated<div style="display:inline-block;width:2px"> </div>using significant unobservable inputs<div style="display:inline-block;width:2px"> </div>(in thousands):</div></div><div id="TextBlockContainer1618" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:189px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1616_XBRL_TS_457f9d281c7f438b933212a2766400e1" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1617" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:189px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21982" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">December 31, 2020 </div><div id="a21984" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:369px;top:0px;">Level 1 </div><div id="a21987" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:467px;top:0px;">Level 2 </div><div id="a21990" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:563px;top:0px;">Level 3 </div><div id="a21993" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:666px;top:0px;">Total </div><div id="a21995" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:17px;">Assets: </div><div id="a22008" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:34px;">Money market account </div><div id="a22010" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:34px;">$ </div><div id="a22012" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:34px;">— </div><div id="a22015" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:34px;">$ </div><div id="a22017" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:34px;">— </div><div id="a22020" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:34px;">$ </div><div id="a22022" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:34px;">— </div><div id="a22025" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:34px;">$ </div><div id="a22027" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:34px;">— </div><div id="a22029" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:22px;top:52px;">Total assets </div><div id="a22031" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:52px;">$ </div><div id="a22033" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:52px;">— </div><div id="a22036" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:52px;">$ </div><div id="a22038" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:52px;">— </div><div id="a22041" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:52px;">$ </div><div id="a22043" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:52px;">— </div><div id="a22046" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:52px;">$ </div><div id="a22048" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:52px;">— </div><div id="a22062" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:87px;">Liabilities: </div><div id="a22075" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:104px;">Convertible notes payable </div><div id="a22077" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:104px;">$ </div><div id="a22079" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:104px;">— </div><div id="a22082" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:104px;">$ </div><div id="a22084" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:104px;">— </div><div id="a22087" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:104px;">$ </div><div id="a22089" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:104px;">10,356</div><div id="a22092" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:104px;">$ </div><div id="a22094" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:104px;">10,356</div><div id="a22096" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:121px;">Convertible notes with related parties </div><div id="a22099" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:121px;">— </div><div id="a22103" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:121px;">— </div><div id="a22107" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:121px;">14,324</div><div id="a22111" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:121px;">14,324</div><div id="a22113" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">SAFEs </div><div id="a22116" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:138px;">— </div><div id="a22120" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:138px;">— </div><div id="a22124" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:138px;">24,335</div><div id="a22128" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:138px;">24,335</div><div id="a22130" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:155px;">Warrant liability </div><div id="a22133" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:155px;">— </div><div id="a22137" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:155px;">— </div><div id="a22141" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:155px;">400</div><div id="a22145" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:155px;">400</div><div id="a22147" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:22px;top:173px;">Total liabilities </div><div id="a22149" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:173px;">$ </div><div id="a22151" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:173px;">— </div><div id="a22154" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:173px;">$ </div><div id="a22156" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:173px;">— </div><div id="a22159" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:173px;">$ </div><div id="a22161" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:173px;">49,415</div><div id="a22164" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:173px;">$ </div><div id="a22166" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:173px;">49,415</div></div></div></div><div id="TextBlockContainer1614" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:68px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1612_XBRL_TS_acee29dfc14c45c48a28821ca267b9b3" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1613" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:68px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21913" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">December 31, 2021 </div><div id="a21915" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:369px;top:0px;">Level 1 </div><div id="a21918" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:467px;top:0px;">Level 2 </div><div id="a21921" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:563px;top:0px;">Level 3 </div><div id="a21924" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:666px;top:0px;">Total </div><div id="a21926" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:17px;">Assets: </div><div id="a21939" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:34px;">Money market account </div><div id="a21941" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:34px;">$ </div><div id="a21943" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:386px;top:34px;">139,794</div><div id="a21946" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:34px;">$ </div><div id="a21948" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:34px;">— </div><div id="a21951" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:34px;">$ </div><div id="a21953" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:34px;">— </div><div id="a21956" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:34px;">$ </div><div id="a21958" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:677px;top:34px;">139,794</div><div id="a21960" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:22px;top:52px;">Total assets </div><div id="a21962" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:52px;">$ </div><div id="a21964" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:386px;top:52px;">139,794</div><div id="a21967" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:52px;">$ </div><div id="a21969" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:52px;">—</div><div id="a21972" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:52px;">$ </div><div id="a21974" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:52px;">—</div><div id="a21977" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:52px;">$ </div><div id="a21979" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:677px;top:52px;">139,794</div></div></div></div><div id="TextBlockContainer1626" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:288px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22200" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:645px;top:0px;">Convertible </div><div id="a22201" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:662px;top:15px;">Notes </div><div id="a22203" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:32px;">Balance at December 31, 2019 </div><div id="a22205" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:33px;">$ </div><div id="a22207" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:33px;">12,121</div><div id="a22209" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:50px;">Issuance of convertible notes </div><div id="a22212" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:50px;">12,040</div><div id="a22214" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:66px;">Repayments </div><div id="a22217" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:67px;display:flex;">(5,500)</div><div id="a22219" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:83px;">Change in fair value </div><div id="a22222" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:84px;">5,761</div><div id="a22224" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:100px;">Issuance costs </div><div id="a22227" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:101px;display:flex;">(300)</div><div id="a22229" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:117px;">Amortization of issuance costs </div><div id="a22232" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:118px;">83</div><div id="a22234" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:134px;">Accrued interest</div><div id="a22238" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:135px;">475</div><div id="a22240" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">Balance at December 31, 2020 </div><div id="a22243" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:153px;">24,680</div><div id="a22245" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:170px;">Issuance of convertible notes </div><div id="a22248" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:170px;">2,000</div><div id="a22250" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:187px;">Repayments </div><div id="a22253" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:187px;display:flex;">(2,000)</div><div id="a22255" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:203px;">Change in fair value </div><div id="a22258" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:204px;">2,667</div><div id="a22260" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:221px;">Amortization of issuance costs </div><div id="a22263" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:221px;">217</div><div id="a22265" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:237px;">Accrued interest<div style="display:inline-block;width:3px"> </div></div><div id="a22269" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:238px;">168</div><div id="a22271" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:255px;">Interest paid </div><div id="a22274" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:255px;display:flex;">(187)</div><div id="a22276" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:271px;">Conversion to Series A preferred stock </div><div id="a22279" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:272px;display:flex;">(27,545)</div></div><div id="TextBlockContainer1633" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:186px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22325" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:661px;top:0px;">SAFE </div><div id="a22326" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:654px;top:15px;">Liability </div><div id="a22328" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:33px;">Balance at December 31, 2019 </div><div id="a22330" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:33px;">$ </div><div id="a22332" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:33px;">— </div><div id="a22334" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:50px;">Issuance of SAFEs </div><div id="a22337" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:50px;">39,355</div><div id="a22339" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:67px;">Change in fair value </div><div id="a22342" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:67px;">615</div><div id="a22344" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:84px;">Conversion to Series Seed-2 convertible preferred stock </div><div id="a22349" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:84px;display:flex;">(360)</div><div id="a22351" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:101px;">Conversion to Series A-2 convertible preferred stock </div><div id="a22356" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:101px;display:flex;">(15,275)</div><div id="a22358" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:119px;">Balance at December 31, 2020 </div><div id="a22361" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:119px;">24,335</div><div id="a22363" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:136px;">Change in fair value </div><div id="a22366" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:136px;">8,365</div><div id="a22368" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:153px;">Issuance of SAFEs </div><div id="a22371" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:153px;">2,900</div><div id="a22373" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:170px;">Conversion to Series A preferred stock </div><div id="a22376" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:170px;display:flex;">(35,600)</div></div><div id="TextBlockContainer1641" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:152px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22459" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:653px;top:0px;">Warrant </div><div id="a22461" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:654px;top:15px;">Liability </div><div id="a22463" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:33px;">Balance at December 31, 2019 </div><div id="a22465" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:33px;">$ </div><div id="a22467" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:33px;">— </div><div id="a22469" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:50px;">Issuance of Series A-1 preferred warrants </div><div id="a22474" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:50px;">573</div><div id="a22476" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:67px;">Exercise of warrants </div><div id="a22479" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:67px;display:flex;">(214)</div><div id="a22481" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:84px;">Change in fair value </div><div id="a22484" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:84px;">41</div><div id="a22486" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:102px;">Balance at December 31, 2020 </div><div id="a22489" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:102px;">400</div><div id="a22491" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:119px;">Change in fair value </div><div id="a22494" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:119px;">214</div><div id="a22496" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:136px;">Conversion to warrants for shares of Series A preferred stock </div><div id="a22499" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:136px;display:flex;">(614)</div></div>
139794000
139794000
139794000
0
0
139794000
<div id="TextBlockContainer1617" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:189px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21982" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">December 31, 2020 </div><div id="a21984" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:369px;top:0px;">Level 1 </div><div id="a21987" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:467px;top:0px;">Level 2 </div><div id="a21990" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:563px;top:0px;">Level 3 </div><div id="a21993" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:666px;top:0px;">Total </div><div id="a21995" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:17px;">Assets: </div><div id="a22008" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:34px;">Money market account </div><div id="a22010" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:34px;">$ </div><div id="a22012" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:34px;">— </div><div id="a22015" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:34px;">$ </div><div id="a22017" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:34px;">— </div><div id="a22020" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:34px;">$ </div><div id="a22022" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:34px;">— </div><div id="a22025" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:34px;">$ </div><div id="a22027" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:34px;">— </div><div id="a22029" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:22px;top:52px;">Total assets </div><div id="a22031" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:52px;">$ </div><div id="a22033" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:52px;">— </div><div id="a22036" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:52px;">$ </div><div id="a22038" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:52px;">— </div><div id="a22041" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:52px;">$ </div><div id="a22043" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:52px;">— </div><div id="a22046" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:52px;">$ </div><div id="a22048" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:52px;">— </div><div id="a22062" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:87px;">Liabilities: </div><div id="a22075" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:104px;">Convertible notes payable </div><div id="a22077" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:104px;">$ </div><div id="a22079" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:104px;">— </div><div id="a22082" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:104px;">$ </div><div id="a22084" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:104px;">— </div><div id="a22087" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:104px;">$ </div><div id="a22089" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:104px;">10,356</div><div id="a22092" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:104px;">$ </div><div id="a22094" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:104px;">10,356</div><div id="a22096" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:121px;">Convertible notes with related parties </div><div id="a22099" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:121px;">— </div><div id="a22103" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:121px;">— </div><div id="a22107" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:121px;">14,324</div><div id="a22111" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:121px;">14,324</div><div id="a22113" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">SAFEs </div><div id="a22116" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:138px;">— </div><div id="a22120" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:138px;">— </div><div id="a22124" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:138px;">24,335</div><div id="a22128" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:138px;">24,335</div><div id="a22130" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:155px;">Warrant liability </div><div id="a22133" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:155px;">— </div><div id="a22137" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:155px;">— </div><div id="a22141" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:155px;">400</div><div id="a22145" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:155px;">400</div><div id="a22147" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:22px;top:173px;">Total liabilities </div><div id="a22149" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:173px;">$ </div><div id="a22151" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:416px;top:173px;">— </div><div id="a22154" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:173px;">$ </div><div id="a22156" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:173px;">— </div><div id="a22159" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:173px;">$ </div><div id="a22161" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:173px;">49,415</div><div id="a22164" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:173px;">$ </div><div id="a22166" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:173px;">49,415</div></div><div id="TextBlockContainer1613" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:68px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21913" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">December 31, 2021 </div><div id="a21915" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:369px;top:0px;">Level 1 </div><div id="a21918" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:467px;top:0px;">Level 2 </div><div id="a21921" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:563px;top:0px;">Level 3 </div><div id="a21924" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:666px;top:0px;">Total </div><div id="a21926" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:17px;">Assets: </div><div id="a21939" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:34px;">Money market account </div><div id="a21941" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:34px;">$ </div><div id="a21943" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:386px;top:34px;">139,794</div><div id="a21946" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:34px;">$ </div><div id="a21948" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:34px;">— </div><div id="a21951" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:34px;">$ </div><div id="a21953" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:34px;">— </div><div id="a21956" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:34px;">$ </div><div id="a21958" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:677px;top:34px;">139,794</div><div id="a21960" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:22px;top:52px;">Total assets </div><div id="a21962" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:52px;">$ </div><div id="a21964" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:386px;top:52px;">139,794</div><div id="a21967" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:52px;">$ </div><div id="a21969" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:52px;">—</div><div id="a21972" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:52px;">$ </div><div id="a21974" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:52px;">—</div><div id="a21977" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:52px;">$ </div><div id="a21979" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:677px;top:52px;">139,794</div></div>
10356000
10356000
14324000
14324000
24335000
24335000
400000
400000
49415000
49415000
0
0
0
0
<div id="TextBlockContainer1628" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:288px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1624_XBRL_TS_8ea036a217ef4e48b5ed287720076965" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1627" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:288px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1625_XBRL_TS_14de8a3ccd344809bf87ff9446bb3394" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1626" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:288px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22200" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:645px;top:0px;">Convertible </div><div id="a22201" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:662px;top:15px;">Notes </div><div id="a22203" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:32px;">Balance at December 31, 2019 </div><div id="a22205" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:33px;">$ </div><div id="a22207" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:33px;">12,121</div><div id="a22209" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:50px;">Issuance of convertible notes </div><div id="a22212" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:50px;">12,040</div><div id="a22214" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:66px;">Repayments </div><div id="a22217" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:67px;display:flex;">(5,500)</div><div id="a22219" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:83px;">Change in fair value </div><div id="a22222" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:84px;">5,761</div><div id="a22224" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:100px;">Issuance costs </div><div id="a22227" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:101px;display:flex;">(300)</div><div id="a22229" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:117px;">Amortization of issuance costs </div><div id="a22232" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:118px;">83</div><div id="a22234" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:134px;">Accrued interest</div><div id="a22238" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:135px;">475</div><div id="a22240" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">Balance at December 31, 2020 </div><div id="a22243" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:153px;">24,680</div><div id="a22245" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:170px;">Issuance of convertible notes </div><div id="a22248" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:170px;">2,000</div><div id="a22250" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:187px;">Repayments </div><div id="a22253" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:187px;display:flex;">(2,000)</div><div id="a22255" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:203px;">Change in fair value </div><div id="a22258" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:204px;">2,667</div><div id="a22260" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:221px;">Amortization of issuance costs </div><div id="a22263" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:221px;">217</div><div id="a22265" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:237px;">Accrued interest<div style="display:inline-block;width:3px"> </div></div><div id="a22269" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:238px;">168</div><div id="a22271" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:255px;">Interest paid </div><div id="a22274" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:255px;display:flex;">(187)</div><div id="a22276" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:271px;">Conversion to Series A preferred stock </div><div id="a22279" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:272px;display:flex;">(27,545)</div></div></div></div></div></div>
<div id="TextBlockContainer1627" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:288px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1625_XBRL_TS_14de8a3ccd344809bf87ff9446bb3394" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1626" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:288px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22200" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:645px;top:0px;">Convertible </div><div id="a22201" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:662px;top:15px;">Notes </div><div id="a22203" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:32px;">Balance at December 31, 2019 </div><div id="a22205" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:33px;">$ </div><div id="a22207" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:33px;">12,121</div><div id="a22209" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:50px;">Issuance of convertible notes </div><div id="a22212" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:50px;">12,040</div><div id="a22214" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:66px;">Repayments </div><div id="a22217" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:67px;display:flex;">(5,500)</div><div id="a22219" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:83px;">Change in fair value </div><div id="a22222" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:84px;">5,761</div><div id="a22224" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:100px;">Issuance costs </div><div id="a22227" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:101px;display:flex;">(300)</div><div id="a22229" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:117px;">Amortization of issuance costs </div><div id="a22232" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:118px;">83</div><div id="a22234" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:134px;">Accrued interest</div><div id="a22238" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:135px;">475</div><div id="a22240" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">Balance at December 31, 2020 </div><div id="a22243" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:153px;">24,680</div><div id="a22245" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:170px;">Issuance of convertible notes </div><div id="a22248" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:170px;">2,000</div><div id="a22250" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:187px;">Repayments </div><div id="a22253" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:187px;display:flex;">(2,000)</div><div id="a22255" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:203px;">Change in fair value </div><div id="a22258" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:204px;">2,667</div><div id="a22260" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:221px;">Amortization of issuance costs </div><div id="a22263" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:221px;">217</div><div id="a22265" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:237px;">Accrued interest<div style="display:inline-block;width:3px"> </div></div><div id="a22269" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:238px;">168</div><div id="a22271" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:255px;">Interest paid </div><div id="a22274" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:255px;display:flex;">(187)</div><div id="a22276" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:271px;">Conversion to Series A preferred stock </div><div id="a22279" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:272px;display:flex;">(27,545)</div></div></div></div>
12121000
12040000
5500000
5761000
300000
83000
475000
24680000
2000000
2000000
2667000
217000
168000
187000
-27545000
35600000
15600000
<div id="TextBlockContainer1634" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:186px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1632_XBRL_TS_173f823a276e440e871b6afd4de71698" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1633" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:186px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22325" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:661px;top:0px;">SAFE </div><div id="a22326" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:654px;top:15px;">Liability </div><div id="a22328" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:33px;">Balance at December 31, 2019 </div><div id="a22330" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:33px;">$ </div><div id="a22332" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:33px;">— </div><div id="a22334" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:50px;">Issuance of SAFEs </div><div id="a22337" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:50px;">39,355</div><div id="a22339" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:67px;">Change in fair value </div><div id="a22342" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:67px;">615</div><div id="a22344" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:84px;">Conversion to Series Seed-2 convertible preferred stock </div><div id="a22349" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:84px;display:flex;">(360)</div><div id="a22351" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:101px;">Conversion to Series A-2 convertible preferred stock </div><div id="a22356" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:101px;display:flex;">(15,275)</div><div id="a22358" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:119px;">Balance at December 31, 2020 </div><div id="a22361" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:119px;">24,335</div><div id="a22363" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:136px;">Change in fair value </div><div id="a22366" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:136px;">8,365</div><div id="a22368" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:153px;">Issuance of SAFEs </div><div id="a22371" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:153px;">2,900</div><div id="a22373" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:170px;">Conversion to Series A preferred stock </div><div id="a22376" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:170px;display:flex;">(35,600)</div></div></div></div><div id="TextBlockContainer1642" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:152px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1640_XBRL_TS_becb181dd25c463e8ff8367b32c5591d" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1641" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:152px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22459" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:653px;top:0px;">Warrant </div><div id="a22461" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:654px;top:15px;">Liability </div><div id="a22463" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:33px;">Balance at December 31, 2019 </div><div id="a22465" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:33px;">$ </div><div id="a22467" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:33px;">— </div><div id="a22469" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:50px;">Issuance of Series A-1 preferred warrants </div><div id="a22474" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:50px;">573</div><div id="a22476" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:67px;">Exercise of warrants </div><div id="a22479" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:67px;display:flex;">(214)</div><div id="a22481" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:84px;">Change in fair value </div><div id="a22484" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:84px;">41</div><div id="a22486" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:102px;">Balance at December 31, 2020 </div><div id="a22489" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:102px;">400</div><div id="a22491" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:119px;">Change in fair value </div><div id="a22494" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:119px;">214</div><div id="a22496" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:136px;">Conversion to warrants for shares of Series A preferred stock </div><div id="a22499" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:136px;display:flex;">(614)</div></div></div></div>
39355000
615000
-360000
-15275000
24335000
8365000
2900000
-35600000
205970
0.003
71862
0.003
1000000
134106
573000
-214000
41000
400000
214000
-614000
<div id="TextBlockContainer1644" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:447px;height:46px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22505" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">4. Prepaid Expenses and Other Current Assets </div><div id="a22509" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Prepaid expenses and other current assets consist of the following (in thousands):</div></div><div id="TextBlockContainer1647" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22517" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a22520" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:17px;">2021 </div><div id="a22523" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:17px;">2020 </div><div id="a22525" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Deposits </div><div id="a22527" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:35px;">$ </div><div id="a22529" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:35px;">4,379</div><div id="a22532" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:35px;">$ </div><div id="a22534" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:35px;">10</div><div id="a22536" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Prepaid materials and supplies </div><div id="a22539" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:52px;">4,131</div><div id="a22543" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:52px;">3,302</div><div id="a22545" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Other </div><div id="a22548" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:69px;">341</div><div id="a22552" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:69px;">832</div><div id="a22555" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:87px;">$ </div><div id="a22557" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:87px;">8,851</div><div id="a22560" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:87px;">$ </div><div id="a22562" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:87px;">4,144</div></div><div id="TextBlockContainer1650" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:33px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22565" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">The Company’s<div style="display:inline-block;width:5px"> </div>prepaid material and supplies<div style="display:inline-block;width:5px"> </div>related to ELISA test<div style="display:inline-block;width:5px"> </div>production, of which $</div><div id="a22565_88_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:496px;top:0px;">1.0</div><div id="a22565_91_41" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:513px;top:0px;"><div style="display:inline-block;width:4px"> </div>million was paid to<div style="display:inline-block;width:5px"> </div>a related party and </div><div id="a22567" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:17px;">$</div><div id="a22567_1_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:11px;top:17px;">2.5</div><div id="a22567_4_112" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:17px;"><div style="display:inline-block;width:3px"> </div>million related to materials to be utilized during its Phase 2 clinical trial for COVID-19 vaccine development.</div></div>
<div id="TextBlockContainer1648" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1646_XBRL_TS_044df326d3184c32bd3cfb1e35961cd9" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1647" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22517" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a22520" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:17px;">2021 </div><div id="a22523" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:17px;">2020 </div><div id="a22525" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Deposits </div><div id="a22527" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:35px;">$ </div><div id="a22529" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:35px;">4,379</div><div id="a22532" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:35px;">$ </div><div id="a22534" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:35px;">10</div><div id="a22536" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Prepaid materials and supplies </div><div id="a22539" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:52px;">4,131</div><div id="a22543" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:52px;">3,302</div><div id="a22545" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Other </div><div id="a22548" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:69px;">341</div><div id="a22552" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:69px;">832</div><div id="a22555" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:87px;">$ </div><div id="a22557" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:87px;">8,851</div><div id="a22560" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:87px;">$ </div><div id="a22562" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:87px;">4,144</div></div></div></div>
4379000
10000
4131000
3302000
341000
832000
8851000
4144000
1000000.0
2500000
<div id="TextBlockContainer1652" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:390px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22574" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">5. Property and Equipment </div><div id="a22580" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Property and equipment, net consisted of the following (in thousands):</div></div><div id="TextBlockContainer1655" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:172px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22587" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a22590" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:17px;">2021 </div><div id="a22593" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:17px;">2020 </div><div id="a22595" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Airplane </div><div id="a22597" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:35px;">$ </div><div id="a22599" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:35px;">11,983</div><div id="a22602" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:35px;">$ </div><div id="a22604" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:35px;">11,983</div><div id="a22606" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Laboratory and computer equipment </div><div id="a22609" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:52px;">1,831</div><div id="a22613" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:52px;">969</div><div id="a22615" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Software </div><div id="a22618" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:69px;">168</div><div id="a22622" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:69px;">—</div><div id="a22624" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Vehicles </div><div id="a22627" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:86px;">87</div><div id="a22631" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:86px;">—</div><div id="a22633" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Facilities, furniture and fixtures </div><div id="a22636" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:103px;">85</div><div id="a22640" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:103px;">84</div><div id="a22642" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:120px;">Total property and equipment </div><div id="a22645" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:120px;">14,154</div><div id="a22649" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:120px;">13,036</div><div id="a22651" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:137px;">Less: accumulated depreciation </div><div id="a22654" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:137px;display:flex;">(1,981)</div><div id="a22658" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:696px;top:137px;display:flex;">(878)</div><div id="a22660" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:156px;">Property and equipment, net </div><div id="a22662" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:156px;">$ </div><div id="a22664" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:156px;">12,173</div><div id="a22667" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:156px;">$ </div><div id="a22669" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:156px;">12,158</div></div>
<div id="TextBlockContainer1656" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:172px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1654_XBRL_TS_472200f578024164af6da31e23b3229d" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1655" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:172px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22587" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a22590" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:17px;">2021 </div><div id="a22593" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:17px;">2020 </div><div id="a22595" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Airplane </div><div id="a22597" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:35px;">$ </div><div id="a22599" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:35px;">11,983</div><div id="a22602" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:35px;">$ </div><div id="a22604" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:35px;">11,983</div><div id="a22606" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Laboratory and computer equipment </div><div id="a22609" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:52px;">1,831</div><div id="a22613" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:52px;">969</div><div id="a22615" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Software </div><div id="a22618" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:69px;">168</div><div id="a22622" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:69px;">—</div><div id="a22624" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Vehicles </div><div id="a22627" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:86px;">87</div><div id="a22631" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:86px;">—</div><div id="a22633" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Facilities, furniture and fixtures </div><div id="a22636" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:103px;">85</div><div id="a22640" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:103px;">84</div><div id="a22642" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:120px;">Total property and equipment </div><div id="a22645" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:120px;">14,154</div><div id="a22649" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:120px;">13,036</div><div id="a22651" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:137px;">Less: accumulated depreciation </div><div id="a22654" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:137px;display:flex;">(1,981)</div><div id="a22658" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:696px;top:137px;display:flex;">(878)</div><div id="a22660" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:156px;">Property and equipment, net </div><div id="a22662" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:156px;">$ </div><div id="a22664" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:156px;">12,173</div><div id="a22667" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:156px;">$ </div><div id="a22669" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:156px;">12,158</div></div></div></div>
11983000
11983000
1831000
969000
168000000
0
87000000
0
85000000
84000000
14154000
13036000
1981000
878000
12173000
12158000
<div id="TextBlockContainer1658" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:483px;height:46px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22687" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">6. Accrued Expenses and Other Current Liabilities </div><div id="a22699" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Accrued expenses and other current liabilities consisted of the following (in thousands):</div></div><div id="TextBlockContainer1662" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:123px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1660_XBRL_TS_2756ca7d58e34f7f8c55d929fa92241c" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1661" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:123px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22707" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a22710" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:18px;">2021 </div><div id="a22713" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:18px;">2020 </div><div id="a22715" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:36px;">Accrued bonuses </div><div id="a22717" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:36px;">$ </div><div id="a22719" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:36px;">2,294</div><div id="a22722" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:36px;">$ </div><div id="a22724" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:36px;">2,187</div><div id="a22726" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:53px;">Accrued external research and development </div><div id="a22729" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:53px;">1,501</div><div id="a22733" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:53px;">296</div><div id="a22735" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:71px;">Accrued professional fees and other </div><div id="a22738" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:71px;">692</div><div id="a22742" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:71px;">228</div><div id="a22744" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:89px;">Accrued interest </div><div id="a22747" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:89px;">32</div><div id="a22751" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:89px;">33</div><div id="a22754" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:107px;">$ </div><div id="a22756" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:107px;">4,519</div><div id="a22759" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:107px;">$ </div><div id="a22761" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:107px;">2,744</div></div></div></div>
<div id="TextBlockContainer1661" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:123px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22707" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a22710" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:18px;">2021 </div><div id="a22713" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:18px;">2020 </div><div id="a22715" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:36px;">Accrued bonuses </div><div id="a22717" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:36px;">$ </div><div id="a22719" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:36px;">2,294</div><div id="a22722" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:36px;">$ </div><div id="a22724" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:36px;">2,187</div><div id="a22726" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:53px;">Accrued external research and development </div><div id="a22729" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:53px;">1,501</div><div id="a22733" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:53px;">296</div><div id="a22735" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:71px;">Accrued professional fees and other </div><div id="a22738" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:71px;">692</div><div id="a22742" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:71px;">228</div><div id="a22744" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:89px;">Accrued interest </div><div id="a22747" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:89px;">32</div><div id="a22751" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:89px;">33</div><div id="a22754" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:107px;">$ </div><div id="a22756" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:107px;">4,519</div><div id="a22759" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:107px;">$ </div><div id="a22761" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:107px;">2,744</div></div>
2294000
2187000
1501000
296000
692000
228000
32000
33000
4519000
2744000
<div id="TextBlockContainer1664" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:378px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22764" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">7. Other Long-Term Liabilities </div><div id="a22772" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Other long-term liabilities consisted of the following (in thousands):</div></div><div id="TextBlockContainer1667" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:88px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22783" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a22786" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:18px;">2021 </div><div id="a22789" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:18px;">2020 </div><div id="a22791" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:36px;">Accrued tax provision </div><div id="a22794" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:36px;">236</div><div id="a22798" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:36px;">236</div><div id="a22800" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:53px;">Accrued rent </div><div id="a22803" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:617px;top:53px;">1</div><div id="a22807" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:53px;">13</div><div id="a22810" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:72px;">$ </div><div id="a22812" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:72px;">237</div><div id="a22815" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:72px;">$ </div><div id="a22817" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:72px;">249</div></div><div id="TextBlockContainer1670" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22820" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">As of<div style="display:inline-block;width:2px"> </div>December 31,<div style="display:inline-block;width:2px"> </div>2021 and<div style="display:inline-block;width:2px"> </div>2020, approximately<div style="display:inline-block;width:2px"> </div>$</div><div id="a22820_49_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:282px;top:0px;">0.2</div><div id="a22820_52_84" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:298px;top:0px;"><div style="display:inline-block;width:3px"> </div>million of<div style="display:inline-block;width:2px"> </div>the accrued<div style="display:inline-block;width:2px"> </div>tax provision<div style="display:inline-block;width:2px"> </div>relates to<div style="display:inline-block;width:2px"> </div>penalties and<div style="display:inline-block;width:2px"> </div>interest the<div style="display:inline-block;width:2px"> </div>Company </div><div id="a22831" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">may be subject to paying for late filing fees related to a foreign subsidiary. The Company expects these amounts to be forgiven but has </div><div id="a22837" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">accrued for them until the statute of limitations expires and it is appropriate to write them off.</div></div>
<div id="TextBlockContainer1668" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:88px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1666_XBRL_TS_694010df22f54b76afd25b538af19a47" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1667" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:88px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22783" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a22786" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:18px;">2021 </div><div id="a22789" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:18px;">2020 </div><div id="a22791" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:36px;">Accrued tax provision </div><div id="a22794" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:36px;">236</div><div id="a22798" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:36px;">236</div><div id="a22800" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:53px;">Accrued rent </div><div id="a22803" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:617px;top:53px;">1</div><div id="a22807" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:53px;">13</div><div id="a22810" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:72px;">$ </div><div id="a22812" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:72px;">237</div><div id="a22815" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:72px;">$ </div><div id="a22817" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:72px;">249</div></div></div></div>
236000
236000
1000
13000
237000
249000
200000
200000
<div id="TextBlockContainer1672" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:310px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22843" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">8. Convertible Notes Payable </div><div id="a22851" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Beginning in April 2018, the<div style="display:inline-block;width:2px"> </div>Company issued several Convertible Notes,<div style="display:inline-block;width:2px"> </div>some of which were issued<div style="display:inline-block;width:2px"> </div>to related parties. The Convertible </div><div id="a22853" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">Notes bear simple interest at annual rates<div style="display:inline-block;width:2px"> </div>ranging from </div><div id="a22853_56_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:299px;top:46px;">4.8</div><div id="a22853_59_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:316px;top:46px;">% to </div><div id="a22853_64_1" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:343px;top:46px;">6</div><div id="a22853_65_73" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:350px;top:46px;">%. All unpaid principal, together with<div style="display:inline-block;width:2px"> </div>the accrued interest thereon, are </div><div id="a22855" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">payable upon an event<div style="display:inline-block;width:5px"> </div>of default or upon<div style="display:inline-block;width:5px"> </div>maturity, which<div style="display:inline-block;width:5px"> </div>ranges from one to<div style="display:inline-block;width:5px"> </div>three years. The Convertible<div style="display:inline-block;width:5px"> </div>Notes contain a number<div style="display:inline-block;width:5px"> </div>of </div><div id="a22857" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">provisions addressing automatic and optional conversion, events of default, and prepayment provisions. </div><div id="a22860" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:110px;">The Company<div style="display:inline-block;width:6px"> </div>accounts for<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:5px"> </div>Convertible Notes<div style="display:inline-block;width:6px"> </div>at<div style="display:inline-block;width:5px"> </div>fair value,<div style="display:inline-block;width:6px"> </div>in accordance<div style="display:inline-block;width:6px"> </div>with ASC<div style="display:inline-block;width:6px"> </div>480, with<div style="display:inline-block;width:6px"> </div>any changes<div style="display:inline-block;width:6px"> </div>in fair<div style="display:inline-block;width:6px"> </div>value being </div><div id="a22862" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:126px;">recognized through the consolidated statements of operations. </div><div id="a22865" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:156px;">In<div style="display:inline-block;width:5px"> </div>accordance<div style="display:inline-block;width:5px"> </div>with<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Contribution<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>Exchange<div style="display:inline-block;width:5px"> </div>Agreement,<div style="display:inline-block;width:5px"> </div>on<div style="display:inline-block;width:5px"> </div>March<div style="display:inline-block;width:5px"> </div>2,<div style="display:inline-block;width:5px"> </div>2021<div style="display:inline-block;width:5px"> </div>each<div style="display:inline-block;width:5px"> </div>Reorganization<div style="display:inline-block;width:5px"> </div>Convertible<div style="display:inline-block;width:5px"> </div>Note<div style="display:inline-block;width:5px"> </div>that<div style="display:inline-block;width:5px"> </div>was </div><div id="a22867" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:172px;">outstanding was exchanged<div style="display:inline-block;width:5px"> </div>for shares of<div style="display:inline-block;width:5px"> </div>Series A preferred<div style="display:inline-block;width:5px"> </div>stock, as set<div style="display:inline-block;width:5px"> </div>forth in the<div style="display:inline-block;width:5px"> </div>applicable Convertible Note<div style="display:inline-block;width:5px"> </div>agreements and the </div><div id="a22869" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:187px;">Contribution and Exchange Agreement.<div style="display:inline-block;width:3px"> </div></div><div id="a22872" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:218px;">During<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>years<div style="display:inline-block;width:5px"> </div>ended<div style="display:inline-block;width:5px"> </div>December<div style="display:inline-block;width:5px"> </div>31,<div style="display:inline-block;width:5px"> </div>2021<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>2020,<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>recognized<div style="display:inline-block;width:5px"> </div>interest<div style="display:inline-block;width:5px"> </div>expense<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>$</div><div id="a22872_95_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:565px;top:218px;">0.2</div><div id="a22872_98_14" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:582px;top:218px;"><div style="display:inline-block;width:5px"> </div>million<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>$</div><div id="a22872_112_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:661px;top:218px;">0.7</div><div id="a22872_115_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:678px;top:218px;"><div style="display:inline-block;width:5px"> </div>million, </div><div id="a22874" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:233px;">respectively, related to the Convertible Notes. In addition, in the years ended December 31, 2021 and 2020, the Company recognized a </div><div id="a22876" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:248px;">change<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:6px"> </div>fair<div style="display:inline-block;width:6px"> </div>value<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>$</div><div id="a22876_25_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:147px;top:248px;">2.7</div><div id="a22876_28_14" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:164px;top:248px;"><div style="display:inline-block;width:6px"> </div>million<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>$</div><div id="a22876_42_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:246px;top:248px;">5.7</div><div id="a22876_45_82" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:263px;top:248px;"><div style="display:inline-block;width:6px"> </div>million<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>accompanying<div style="display:inline-block;width:6px"> </div>consolidated<div style="display:inline-block;width:6px"> </div>statements<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>operations<div style="display:inline-block;width:6px"> </div>related<div style="display:inline-block;width:6px"> </div>to<div style="display:inline-block;width:6px"> </div>the </div><div id="a22878" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:264px;">Convertible Notes, respectively.<div style="display:inline-block;width:4px"> </div></div><div id="a22881" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:294px;">The following table shows the activity of the Convertible Notes (in thousands):</div></div><div id="TextBlockContainer1675" style="position:relative;font-family:'Times New Roman';font-size:10.64px;color:#000000;line-height:normal;width:723px;height:264px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22893" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:382px;top:0px;">Convertible Notes </div><div id="a22896" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:131px;top:17px;">Principal Amount Payable </div><div id="a22900" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:274px;top:17px;">Change in Fair Value </div><div id="a22903" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:417px;top:17px;">Accrued Interest </div><div id="a22906" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:535px;top:17px;">Issuance </div><div id="a22909" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:589px;top:17px;">Conversion to </div><div id="a22915" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:137px;top:39px;">Standard </div><div id="a22918" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:207px;top:33px;">Related </div><div id="a22919" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:211px;top:45px;">Party </div><div id="a22922" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:269px;top:39px;">Standard </div><div id="a22925" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:339px;top:33px;">Related </div><div id="a22926" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:343px;top:45px;">Party </div><div id="a22929" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:401px;top:39px;">Standard </div><div id="a22932" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:471px;top:33px;">Related </div><div id="a22933" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:475px;top:45px;">Party </div><div id="a22936" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:542px;top:39px;">Costs </div><div id="a22939" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:602px;top:39px;">Series A </div><div id="a22942" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:670px;top:39px;">Balance </div><div id="a22944" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:62px;">December 31, 2019 </div><div id="a22946" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:127px;top:64px;">$ </div><div id="a22948" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:156px;top:64px;">11,170</div><div id="a22951" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:193px;top:64px;">$ </div><div id="a22953" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:236px;top:64px;">510</div><div id="a22956" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:259px;top:64px;">$ </div><div id="a22958" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:64px;">33</div><div id="a22961" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:325px;top:64px;">$ </div><div id="a22963" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:64px;">26</div><div id="a22966" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:391px;top:64px;">$ </div><div id="a22968" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:434px;top:64px;">378</div><div id="a22971" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:457px;top:64px;">$ </div><div id="a22973" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:510px;top:64px;">4</div><div id="a22976" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:523px;top:64px;">$ </div><div id="a22978" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:64px;">—</div><div id="a22981" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:64px;">$ </div><div id="a22983" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:64px;">—</div><div id="a22986" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:657px;top:64px;">$ </div><div id="a22988" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:64px;">12,121</div><div id="a22990" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:79px;">Additions </div><div id="a22993" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:162px;top:82px;">2,040</div><div id="a22997" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:222px;top:82px;">10,000</div><div id="a23001" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:294px;top:82px;">1,884</div><div id="a23005" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:360px;top:82px;">3,822</div><div id="a23009" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:434px;top:82px;">560</div><div id="a23013" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:500px;top:82px;">179</div><div id="a23017" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:563px;top:82px;display:flex;">(300)</div><div id="a23021" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:82px;">—</div><div id="a23025" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:82px;">18,185</div><div id="a23027" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:97px;">Settlements </div><div id="a23030" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:159px;top:99px;display:flex;">(5,500)</div><div id="a23034" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:99px;">—</div><div id="a23038" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:99px;">55</div><div id="a23042" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:99px;">—</div><div id="a23046" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:431px;top:99px;display:flex;">(264)</div><div id="a23050" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:99px;">—</div><div id="a23054" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:99px;">—</div><div id="a23058" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:99px;">—</div><div id="a23062" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:689px;top:99px;display:flex;">(5,709)</div><div id="a23064" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:114px;">Amortization </div><div id="a23067" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:175px;top:117px;">—</div><div id="a23071" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:117px;">—</div><div id="a23075" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:117px;">—</div><div id="a23079" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:117px;">—</div><div id="a23083" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:117px;">—</div><div id="a23087" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:117px;">—</div><div id="a23091" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:117px;">83</div><div id="a23095" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:117px;">—</div><div id="a23099" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:705px;top:117px;">83</div><div id="a23101" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:132px;">December 31, 2020 </div><div id="a23104" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:162px;top:135px;">7,710</div><div id="a23108" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:222px;top:135px;">10,510</div><div id="a23112" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:294px;top:135px;">1,972</div><div id="a23116" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:360px;top:135px;">3,848</div><div id="a23120" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:434px;top:135px;">674</div><div id="a23124" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:500px;top:135px;">183</div><div id="a23128" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:563px;top:135px;display:flex;">(217)</div><div id="a23132" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:135px;">—</div><div id="a23136" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:135px;">24,680</div><div id="a23138" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:151px;">Additions </div><div id="a23141" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:175px;top:153px;">—</div><div id="a23145" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:228px;top:153px;">2,000</div><div id="a23149" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:302px;top:153px;">812</div><div id="a23153" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:360px;top:153px;">1,855</div><div id="a23157" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:153px;">58</div><div id="a23161" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:500px;top:153px;">110</div><div id="a23165" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:153px;">—</div><div id="a23169" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:153px;">—</div><div id="a23173" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:692px;top:153px;">4,835</div><div id="a23175" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:168px;">Settlements </div><div id="a23178" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:159px;top:171px;display:flex;">(2,000)</div><div id="a23182" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:171px;">—</div><div id="a23186" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:171px;">—</div><div id="a23190" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:171px;">—</div><div id="a23194" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:431px;top:171px;display:flex;">(187)</div><div id="a23198" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:171px;">—</div><div id="a23202" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:171px;">—</div><div id="a23206" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:171px;">—</div><div id="a23210" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:689px;top:171px;display:flex;">(2,187)</div><div id="a23212" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:186px;">Amortization </div><div id="a23215" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:175px;top:188px;">—</div><div id="a23219" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:188px;">—</div><div id="a23223" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:188px;">—</div><div id="a23227" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:188px;">—</div><div id="a23231" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:188px;">—</div><div id="a23235" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:188px;">—</div><div id="a23239" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:566px;top:188px;">217</div><div id="a23243" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:188px;">—</div><div id="a23247" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:700px;top:188px;">217</div><div id="a23249" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:205px;">Conversion of Convertible </div><div id="a23250" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:217px;">Notes to Series A preferred </div><div id="a23251" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:229px;">stock </div><div id="a23254" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:159px;top:233px;display:flex;">(5,710)</div><div id="a23258" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:219px;top:233px;display:flex;">(12,510)</div><div id="a23262" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:291px;top:233px;display:flex;">(2,784)</div><div id="a23266" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:357px;top:233px;display:flex;">(5,703)</div><div id="a23270" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:431px;top:233px;display:flex;">(545)</div><div id="a23274" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:497px;top:233px;display:flex;">(293)</div><div id="a23278" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:233px;">—</div><div id="a23282" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:617px;top:233px;display:flex;">(27,545)</div><div id="a23286" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:683px;top:233px;display:flex;">(27,545)</div><div id="a23288" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:249px;">December 31, 2021 </div><div id="a23290" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:127px;top:251px;">$ </div><div id="a23292" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:175px;top:251px;">—</div><div id="a23295" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:193px;top:251px;">$ </div><div id="a23297" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:251px;">—</div><div id="a23300" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:259px;top:251px;">$ </div><div id="a23302" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:251px;">—</div><div id="a23305" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:325px;top:251px;">$ </div><div id="a23307" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:251px;">—</div><div id="a23310" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:391px;top:251px;">$ </div><div id="a23312" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:251px;">—</div><div id="a23315" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:457px;top:251px;">$ </div><div id="a23317" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:251px;">—</div><div id="a23320" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:523px;top:251px;">$ </div><div id="a23322" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:251px;">—</div><div id="a23325" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:251px;">$ </div><div id="a23327" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:617px;top:251px;display:flex;">(27,545)</div><div id="a23330" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:657px;top:251px;">$ </div><div id="a23332" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:705px;top:251px;">—</div></div>
0.048
0.06
200000
700000
2700000
5700000
<div id="TextBlockContainer1676" style="position:relative;font-family:'Times New Roman';font-size:10.64px;color:#000000;line-height:normal;width:723px;height:264px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1674_XBRL_TS_558a45ae2eb741248e625313a75f9028" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1675" style="position:relative;font-family:'Times New Roman';font-size:10.64px;color:#000000;line-height:normal;width:723px;height:264px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22893" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:382px;top:0px;">Convertible Notes </div><div id="a22896" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:131px;top:17px;">Principal Amount Payable </div><div id="a22900" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:274px;top:17px;">Change in Fair Value </div><div id="a22903" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:417px;top:17px;">Accrued Interest </div><div id="a22906" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:535px;top:17px;">Issuance </div><div id="a22909" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:589px;top:17px;">Conversion to </div><div id="a22915" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:137px;top:39px;">Standard </div><div id="a22918" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:207px;top:33px;">Related </div><div id="a22919" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:211px;top:45px;">Party </div><div id="a22922" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:269px;top:39px;">Standard </div><div id="a22925" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:339px;top:33px;">Related </div><div id="a22926" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:343px;top:45px;">Party </div><div id="a22929" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:401px;top:39px;">Standard </div><div id="a22932" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:471px;top:33px;">Related </div><div id="a22933" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:475px;top:45px;">Party </div><div id="a22936" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:542px;top:39px;">Costs </div><div id="a22939" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:602px;top:39px;">Series A </div><div id="a22942" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:bold;font-style:normal;color:#000000;left:670px;top:39px;">Balance </div><div id="a22944" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:62px;">December 31, 2019 </div><div id="a22946" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:127px;top:64px;">$ </div><div id="a22948" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:156px;top:64px;">11,170</div><div id="a22951" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:193px;top:64px;">$ </div><div id="a22953" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:236px;top:64px;">510</div><div id="a22956" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:259px;top:64px;">$ </div><div id="a22958" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:64px;">33</div><div id="a22961" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:325px;top:64px;">$ </div><div id="a22963" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:64px;">26</div><div id="a22966" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:391px;top:64px;">$ </div><div id="a22968" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:434px;top:64px;">378</div><div id="a22971" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:457px;top:64px;">$ </div><div id="a22973" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:510px;top:64px;">4</div><div id="a22976" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:523px;top:64px;">$ </div><div id="a22978" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:64px;">—</div><div id="a22981" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:64px;">$ </div><div id="a22983" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:64px;">—</div><div id="a22986" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:657px;top:64px;">$ </div><div id="a22988" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:64px;">12,121</div><div id="a22990" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:79px;">Additions </div><div id="a22993" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:162px;top:82px;">2,040</div><div id="a22997" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:222px;top:82px;">10,000</div><div id="a23001" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:294px;top:82px;">1,884</div><div id="a23005" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:360px;top:82px;">3,822</div><div id="a23009" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:434px;top:82px;">560</div><div id="a23013" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:500px;top:82px;">179</div><div id="a23017" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:563px;top:82px;display:flex;">(300)</div><div id="a23021" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:82px;">—</div><div id="a23025" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:82px;">18,185</div><div id="a23027" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:97px;">Settlements </div><div id="a23030" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:159px;top:99px;display:flex;">(5,500)</div><div id="a23034" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:99px;">—</div><div id="a23038" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:99px;">55</div><div id="a23042" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:99px;">—</div><div id="a23046" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:431px;top:99px;display:flex;">(264)</div><div id="a23050" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:99px;">—</div><div id="a23054" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:99px;">—</div><div id="a23058" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:99px;">—</div><div id="a23062" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:689px;top:99px;display:flex;">(5,709)</div><div id="a23064" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:114px;">Amortization </div><div id="a23067" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:175px;top:117px;">—</div><div id="a23071" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:117px;">—</div><div id="a23075" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:117px;">—</div><div id="a23079" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:117px;">—</div><div id="a23083" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:117px;">—</div><div id="a23087" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:117px;">—</div><div id="a23091" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:117px;">83</div><div id="a23095" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:117px;">—</div><div id="a23099" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:705px;top:117px;">83</div><div id="a23101" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:132px;">December 31, 2020 </div><div id="a23104" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:162px;top:135px;">7,710</div><div id="a23108" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:222px;top:135px;">10,510</div><div id="a23112" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:294px;top:135px;">1,972</div><div id="a23116" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:360px;top:135px;">3,848</div><div id="a23120" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:434px;top:135px;">674</div><div id="a23124" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:500px;top:135px;">183</div><div id="a23128" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:563px;top:135px;display:flex;">(217)</div><div id="a23132" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:135px;">—</div><div id="a23136" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:135px;">24,680</div><div id="a23138" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:151px;">Additions </div><div id="a23141" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:175px;top:153px;">—</div><div id="a23145" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:228px;top:153px;">2,000</div><div id="a23149" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:302px;top:153px;">812</div><div id="a23153" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:360px;top:153px;">1,855</div><div id="a23157" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:153px;">58</div><div id="a23161" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:500px;top:153px;">110</div><div id="a23165" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:153px;">—</div><div id="a23169" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:153px;">—</div><div id="a23173" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:692px;top:153px;">4,835</div><div id="a23175" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:168px;">Settlements </div><div id="a23178" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:159px;top:171px;display:flex;">(2,000)</div><div id="a23182" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:171px;">—</div><div id="a23186" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:171px;">—</div><div id="a23190" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:171px;">—</div><div id="a23194" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:431px;top:171px;display:flex;">(187)</div><div id="a23198" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:171px;">—</div><div id="a23202" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:171px;">—</div><div id="a23206" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:171px;">—</div><div id="a23210" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:689px;top:171px;display:flex;">(2,187)</div><div id="a23212" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:186px;">Amortization </div><div id="a23215" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:175px;top:188px;">—</div><div id="a23219" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:188px;">—</div><div id="a23223" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:188px;">—</div><div id="a23227" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:188px;">—</div><div id="a23231" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:188px;">—</div><div id="a23235" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:188px;">—</div><div id="a23239" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:566px;top:188px;">217</div><div id="a23243" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:639px;top:188px;">—</div><div id="a23247" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:700px;top:188px;">217</div><div id="a23249" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:205px;">Conversion of Convertible </div><div id="a23250" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:217px;">Notes to Series A preferred </div><div id="a23251" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:229px;">stock </div><div id="a23254" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:159px;top:233px;display:flex;">(5,710)</div><div id="a23258" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:219px;top:233px;display:flex;">(12,510)</div><div id="a23262" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:291px;top:233px;display:flex;">(2,784)</div><div id="a23266" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:357px;top:233px;display:flex;">(5,703)</div><div id="a23270" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:431px;top:233px;display:flex;">(545)</div><div id="a23274" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:497px;top:233px;display:flex;">(293)</div><div id="a23278" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:233px;">—</div><div id="a23282" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:617px;top:233px;display:flex;">(27,545)</div><div id="a23286" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:683px;top:233px;display:flex;">(27,545)</div><div id="a23288" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:249px;">December 31, 2021 </div><div id="a23290" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:127px;top:251px;">$ </div><div id="a23292" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:175px;top:251px;">—</div><div id="a23295" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:193px;top:251px;">$ </div><div id="a23297" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:241px;top:251px;">—</div><div id="a23300" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:259px;top:251px;">$ </div><div id="a23302" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:307px;top:251px;">—</div><div id="a23305" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:325px;top:251px;">$ </div><div id="a23307" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:373px;top:251px;">—</div><div id="a23310" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:391px;top:251px;">$ </div><div id="a23312" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:251px;">—</div><div id="a23315" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:457px;top:251px;">$ </div><div id="a23317" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:505px;top:251px;">—</div><div id="a23320" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:523px;top:251px;">$ </div><div id="a23322" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:571px;top:251px;">—</div><div id="a23325" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:251px;">$ </div><div id="a23327" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:617px;top:251px;display:flex;">(27,545)</div><div id="a23330" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:657px;top:251px;">$ </div><div id="a23332" style="position:absolute;font-family:'Times New Roman';font-size:10.64px;font-weight:normal;font-style:normal;color:#000000;left:705px;top:251px;">—</div></div></div></div>
11170000
510000
33000
26000
378000
4000
0
0
12121000
2040000
10000000
1884000
3822000
560000
179000
-300000
0
18185000
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0
55000
0
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0
0
0
-5709000
0
0
0
0
0
0
83000
0
83000
7710000
10510000
1972000
3848000
674000
183000
-217000
0
24680000
0
2000000
812000
1855000
58000
110000
0
0
4835000
-2000000
0
0
0
-187000
0
0
0
-2187000
0
0
0
0
0
0
217000
0
217000
-5710000
-12510000
-2784000
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0
-27545000
-27545000
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<div id="TextBlockContainer1678" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:322px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23335" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">9. Notes Payable </div><div id="a23340" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:31px;">Notes Payable with Related Parties</div><div id="a23343" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">In December 2018, the Company entered into<div style="display:inline-block;width:5px"> </div>related party convertible notes payable (the “2018<div style="display:inline-block;width:5px"> </div>Related Notes” and together with the </div><div id="a23346" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">Convertible Notes, the<div style="display:inline-block;width:1px"> </div>“Reorganization Convertible Notes”)<div style="display:inline-block;width:1px"> </div>for $</div><div id="a23346_64_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:351px;top:77px;">2.0</div><div id="a23346_67_69" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:368px;top:77px;"><div style="display:inline-block;width:3px"> </div>million in aggregate<div style="display:inline-block;width:1px"> </div>proceeds, received<div style="display:inline-block;width:2px"> </div>in three tranches.<div style="display:inline-block;width:1px"> </div>The 2018 </div><div id="a23348" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">Related<div style="display:inline-block;width:5px"> </div>Notes<div style="display:inline-block;width:5px"> </div>bore<div style="display:inline-block;width:5px"> </div>simple<div style="display:inline-block;width:5px"> </div>interest<div style="display:inline-block;width:5px"> </div>at<div style="display:inline-block;width:5px"> </div>an<div style="display:inline-block;width:5px"> </div>annual<div style="display:inline-block;width:5px"> </div>rate<div style="display:inline-block;width:5px"> </div>of </div><div id="a23348_56_1" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:317px;top:92px;">5</div><div id="a23348_57_70" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:324px;top:92px;">%<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>contain<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>number<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>provisions<div style="display:inline-block;width:5px"> </div>addressing<div style="display:inline-block;width:5px"> </div>events<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>default<div style="display:inline-block;width:5px"> </div>and </div><div id="a23350" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">prepayment. In accordance with the Contribution and Exchange Agreement, on March 2, 2021,<div style="display:inline-block;width:2px"> </div>the 2018 Related Notes were converted </div><div id="a23352" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">into Series A preferred stock.<div style="display:inline-block;width:3px"> </div></div><div id="a23355" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">During the years ended December<div style="display:inline-block;width:5px"> </div>31, 2021 and 2020, the<div style="display:inline-block;width:5px"> </div>Company recognized interest expense of<div style="display:inline-block;width:5px"> </div>less than $</div><div id="a23355_105_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:598px;top:153px;">0.1</div><div id="a23355_108_21" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:615px;top:153px;"><div style="display:inline-block;width:4px"> </div>million on the 2018 </div><div id="a23357" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">Related Notes. </div><div id="a23360" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:199px;">2019 Executive Note </div><div id="a23363" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">In November 2019, the Company borrowed<div style="display:inline-block;width:2px"> </div>$</div><div id="a23363_40_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:247px;top:230px;">0.1</div><div id="a23363_43_86" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:264px;top:230px;"><div style="display:inline-block;width:3px"> </div>million from its Chief Executive Officer (the “2019<div style="display:inline-block;width:2px"> </div>Executive Note”). No formal loan </div><div id="a23366" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">agreement was executed. However,<div style="display:inline-block;width:6px"> </div>the Company has<div style="display:inline-block;width:5px"> </div>elected to accrue interest<div style="display:inline-block;width:5px"> </div>at an annual<div style="display:inline-block;width:5px"> </div>rate of </div><div id="a23366_97_1" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:542px;top:245px;">5</div><div id="a23366_98_33" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:549px;top:245px;">%, consistent with<div style="display:inline-block;width:5px"> </div>the terms and </div><div id="a23368" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">conditions of the Convertible Notes and 2018 Related Notes, which was the closest benchmark the Company could evaluate. The 2019 </div><div id="a23370" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">Executive Note was repaid in August 2021.<div style="display:inline-block;width:3px"> </div></div><div id="a23373" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:307px;">The activity of the 2018 Related Notes and 2019 Executive Note is as follows (in thousands):</div></div><div id="TextBlockContainer1684" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:77px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23501" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Note Payable—Airplane </div><div id="a23506" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">In connection with the acquisition<div style="display:inline-block;width:5px"> </div>of an airplane, the Company entered<div style="display:inline-block;width:5px"> </div>into a note payable agreement (the<div style="display:inline-block;width:5px"> </div>“2025 Note”) in June 2020 </div><div id="a23508" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">for $</div><div id="a23508_5_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:30px;top:46px;">11.5</div><div id="a23508_9_42" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:53px;top:46px;"><div style="display:inline-block;width:3px"> </div>million, with an annual interest rate of </div><div id="a23508_51_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:265px;top:46px;">3.4</div><div id="a23508_54_83" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:282px;top:46px;">% and a maturity date of June 9, 2025. Principal and interest payments are payable </div><div id="a23512" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">monthly in the<div style="display:inline-block;width:2px"> </div>amount of $</div><div id="a23512_26_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:147px;top:61px;">0.07</div><div id="a23512_30_34" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:171px;top:61px;"><div style="display:inline-block;width:3px"> </div>million with a<div style="display:inline-block;width:2px"> </div>final payment of<div style="display:inline-block;width:2px"> </div>$</div><div id="a23512_64_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:346px;top:61px;">9.4</div><div id="a23512_67_69" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:363px;top:61px;"><div style="display:inline-block;width:3px"> </div>million at maturity. The<div style="display:inline-block;width:2px"> </div>2025 Note is<div style="display:inline-block;width:2px"> </div>guaranteed by the<div style="display:inline-block;width:2px"> </div>co-founders </div></div><div id="TextBlockContainer1686" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23525" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">of the Company. In addition, the Company incurred debt issuance costs of $</div><div id="a23525_74_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:410px;top:0px;">0.3</div><div id="a23525_77_57" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:426px;top:0px;"><div style="display:inline-block;width:3px"> </div>million, which are being amortized over the term of the </div><div id="a23527" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">loan. There are no financial covenants associated with the 2025 Note.<div style="display:inline-block;width:3px"> </div></div><div id="a23530" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">The carrying value of the 2025 Note is as follows (in thousands):</div></div><div id="TextBlockContainer1688" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:598px;height:16px;display:inline-block;"><div id="a23592" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">As of December 31, 2021, the remaining principal payments for the 2025 Note, are as follows (in thousands):</div></div><div id="TextBlockContainer1692" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:200px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23627" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">Interest expense<div style="display:inline-block;width:5px"> </div>associated with<div style="display:inline-block;width:5px"> </div>the 2025<div style="display:inline-block;width:5px"> </div>Note was<div style="display:inline-block;width:5px"> </div>$</div><div id="a23627_52_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:295px;top:0px;">0.4</div><div id="a23627_55_14" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:312px;top:0px;"><div style="display:inline-block;width:4px"> </div>million and<div style="display:inline-block;width:5px"> </div>$</div><div id="a23627_69_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:389px;top:0px;">0.2</div><div id="a23627_72_57" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:406px;top:0px;"><div style="display:inline-block;width:4px"> </div>million for<div style="display:inline-block;width:5px"> </div>the years<div style="display:inline-block;width:5px"> </div>ended December 31,<div style="display:inline-block;width:5px"> </div>2021 and<div style="display:inline-block;width:5px"> </div>2020, </div><div id="a23629" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">respectively. As of December 31, 2021, accrued interest of less than $</div><div id="a23629_70_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:377px;top:15px;">0.1</div><div id="a23629_73_64" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:394px;top:15px;"><div style="display:inline-block;width:3px"> </div>million was included in accrued expenses and other liabilities </div><div id="a23632" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">in the accompanying consolidated balance sheets. </div><div id="a23636" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:61px;">Note Payable—Paycheck Protection Program </div><div id="a23641" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">The Company<div style="display:inline-block;width:5px"> </div>applied for<div style="display:inline-block;width:5px"> </div>and received<div style="display:inline-block;width:5px"> </div>a loan,<div style="display:inline-block;width:5px"> </div>which is<div style="display:inline-block;width:5px"> </div>in the<div style="display:inline-block;width:5px"> </div>form of<div style="display:inline-block;width:5px"> </div>a note<div style="display:inline-block;width:5px"> </div>dated May<div style="display:inline-block;width:5px"> </div>5, 2020,<div style="display:inline-block;width:5px"> </div>from HSBC<div style="display:inline-block;width:5px"> </div>Bank USA,<div style="display:inline-block;width:5px"> </div>National </div><div id="a23642" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">Association (“HSBC”) in the<div style="display:inline-block;width:5px"> </div>aggregate amount of approximately<div style="display:inline-block;width:5px"> </div>$</div><div id="a23642_63_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:367px;top:107px;">0.3</div><div id="a23642_66_63" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:383px;top:107px;"><div style="display:inline-block;width:4px"> </div>million (the “PPP Loan”),<div style="display:inline-block;width:5px"> </div>pursuant to the Paycheck<div style="display:inline-block;width:5px"> </div>Protection </div><div id="a23644" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">Program (“PPP”). The<div style="display:inline-block;width:5px"> </div>PPP,<div style="display:inline-block;width:5px"> </div>established as part<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>Coronavirus Aid, Relief<div style="display:inline-block;width:5px"> </div>and Economic Security<div style="display:inline-block;width:5px"> </div>Act (“CARES Act”),<div style="display:inline-block;width:5px"> </div>provides </div><div id="a23646" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">for loans to qualifying businesses for<div style="display:inline-block;width:2px"> </div>amounts up to 2.5 times of<div style="display:inline-block;width:2px"> </div>the average monthly payroll expenses<div style="display:inline-block;width:2px"> </div>of the qualifying business. As of </div><div id="a23648" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">December 31, 2021, there were no events of default under the PPP Loan.<div style="display:inline-block;width:3px"> </div></div><div id="a23653" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">The Company paid off the PPP Loan in full, including all accrued but unpaid interest to the repayment date, in August 2021.</div></div><div id="TextBlockContainer1681" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:192px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23377" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:455px;top:0px;">2018 Related Notes and 2019 Executive Note </div><div id="a23380" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:445px;top:21px;">Related Party </div><div id="a23381" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:458px;top:37px;">Principal </div><div id="a23384" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:557px;top:21px;">Accrued </div><div id="a23385" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:559px;top:37px;">Interest </div><div id="a23388" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:656px;top:37px;">Balance </div><div id="a23390" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:54px;">December 31, 2019 </div><div id="a23392" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:54px;">$ </div><div id="a23394" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:491px;top:54px;">2,100</div><div id="a23397" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:54px;">$ </div><div id="a23399" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:54px;">88</div><div id="a23402" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:54px;">$ </div><div id="a23404" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:54px;">2,188</div><div id="a23406" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:71px;">Additions </div><div id="a23409" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:508px;top:71px;">—</div><div id="a23413" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:598px;top:71px;">106</div><div id="a23417" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:71px;">106</div><div id="a23419" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:89px;">December 31, 2020 </div><div id="a23422" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:491px;top:89px;">2,100</div><div id="a23426" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:598px;top:89px;">194</div><div id="a23430" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:89px;">2,294</div><div id="a23432" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:107px;">Accrued interest </div><div id="a23435" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:508px;top:107px;">—</div><div id="a23439" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:107px;">19</div><div id="a23443" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:107px;">19</div><div id="a23445" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:124px;">Repayment </div><div id="a23448" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:496px;top:124px;display:flex;">(100)</div><div id="a23452" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:124px;">—</div><div id="a23456" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:124px;display:flex;">(100)</div><div id="a23458" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:141px;">Interest paid </div><div id="a23461" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:508px;top:141px;">—</div><div id="a23465" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:607px;top:141px;display:flex;">(8)</div><div id="a23469" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:704px;top:141px;display:flex;">(8)</div><div id="a23471" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:158px;">Conversion </div><div id="a23474" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:486px;top:158px;display:flex;">(2,000)</div><div id="a23478" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:158px;display:flex;">(205)</div><div id="a23482" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:158px;display:flex;">(2,205)</div><div id="a23484" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:176px;">December 31, 2021 </div><div id="a23486" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:176px;">$ </div><div id="a23488" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:508px;top:176px;">—</div><div id="a23491" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:176px;">$ </div><div id="a23493" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:176px;">—</div><div id="a23496" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:176px;">$ </div><div id="a23498" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:176px;">—</div></div>
2000000.0
0.05
100000
100000
100000
0.05
<div id="TextBlockContainer1682" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:192px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1680_XBRL_TS_a9943394d9f54428950151ea7d0044c9" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1681" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:192px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23377" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:455px;top:0px;">2018 Related Notes and 2019 Executive Note </div><div id="a23380" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:445px;top:21px;">Related Party </div><div id="a23381" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:458px;top:37px;">Principal </div><div id="a23384" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:557px;top:21px;">Accrued </div><div id="a23385" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:559px;top:37px;">Interest </div><div id="a23388" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:656px;top:37px;">Balance </div><div id="a23390" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:54px;">December 31, 2019 </div><div id="a23392" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:54px;">$ </div><div id="a23394" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:491px;top:54px;">2,100</div><div id="a23397" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:54px;">$ </div><div id="a23399" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:54px;">88</div><div id="a23402" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:54px;">$ </div><div id="a23404" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:54px;">2,188</div><div id="a23406" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:71px;">Additions </div><div id="a23409" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:508px;top:71px;">—</div><div id="a23413" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:598px;top:71px;">106</div><div id="a23417" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:71px;">106</div><div id="a23419" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:89px;">December 31, 2020 </div><div id="a23422" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:491px;top:89px;">2,100</div><div id="a23426" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:598px;top:89px;">194</div><div id="a23430" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:89px;">2,294</div><div id="a23432" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:107px;">Accrued interest </div><div id="a23435" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:508px;top:107px;">—</div><div id="a23439" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:107px;">19</div><div id="a23443" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:107px;">19</div><div id="a23445" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:124px;">Repayment </div><div id="a23448" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:496px;top:124px;display:flex;">(100)</div><div id="a23452" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:124px;">—</div><div id="a23456" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:124px;display:flex;">(100)</div><div id="a23458" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:141px;">Interest paid </div><div id="a23461" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:508px;top:141px;">—</div><div id="a23465" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:607px;top:141px;display:flex;">(8)</div><div id="a23469" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:704px;top:141px;display:flex;">(8)</div><div id="a23471" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:158px;">Conversion </div><div id="a23474" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:486px;top:158px;display:flex;">(2,000)</div><div id="a23478" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:158px;display:flex;">(205)</div><div id="a23482" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:158px;display:flex;">(2,205)</div><div id="a23484" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:176px;">December 31, 2021 </div><div id="a23486" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:444px;top:176px;">$ </div><div id="a23488" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:508px;top:176px;">—</div><div id="a23491" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:176px;">$ </div><div id="a23493" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:176px;">—</div><div id="a23496" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:176px;">$ </div><div id="a23498" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:176px;">—</div></div></div></div>
2100000
88000
2188000
0
106000
106000
2100000
194000
2294000
0
19000
19000
100000
0
100000
0
8000
8000
2000000
205000
2205000
0
0
0
11500000
0.034
70000.00
9400000
300000
10883000
11298000
-184000
-237000
10699000
11061000
376000
362000
10323000
10699000
<div id="TextBlockContainer1690" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23598" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:658px;top:0px;">Amount </div><div id="a23600" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:18px;">2022 </div><div id="a23602" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:18px;">$ </div><div id="a23604" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:18px;">429</div><div id="a23606" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">2023 </div><div id="a23609" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:35px;">444</div><div id="a23611" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">2024 </div><div id="a23614" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:52px;">458</div><div id="a23616" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">2025 </div><div id="a23619" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:69px;">9,552</div><div id="a23622" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:87px;">$ </div><div id="a23624" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:87px;">10,883</div></div>
429000
444000
458000
9552000
10883000
400000
200000
100000
300000
<div id="TextBlockContainer1694" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:737px;height:215px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23657" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">10. Convertible Preferred Stock </div><div id="a23665" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">In connection with the Reorganization, each<div style="display:inline-block;width:5px"> </div>UNS convertible preferred share was exchanged for </div><div id="a23665_94_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:527px;top:31px;">0.2191</div><div id="a23665_100_31" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:564px;top:31px;"><div style="display:inline-block;width:4px"> </div>shares of Vaxxinity<div style="display:inline-block;width:5px"> </div>preferred </div><div id="a23668" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">stock and each<div style="display:inline-block;width:5px"> </div>share of COVAXX<div style="display:inline-block;width:6px"> </div>convertible preferred stock was<div style="display:inline-block;width:5px"> </div>exchanged for </div><div id="a23668_77_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:449px;top:46px;">3.4233</div><div id="a23668_83_45" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:485px;top:46px;"><div style="display:inline-block;width:4px"> </div>shares of Vaxxinity<div style="display:inline-block;width:6px"> </div>preferred stock. During </div><div id="a23670" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">the first<div style="display:inline-block;width:5px"> </div>and second quarters<div style="display:inline-block;width:5px"> </div>of 2021,<div style="display:inline-block;width:5px"> </div>the Company raised<div style="display:inline-block;width:5px"> </div>gross proceeds of<div style="display:inline-block;width:5px"> </div>$</div><div id="a23670_77_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:428px;top:61px;">122.8</div><div id="a23670_82_51" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:458px;top:61px;"><div style="display:inline-block;width:4px"> </div>million in connection<div style="display:inline-block;width:5px"> </div>with its<div style="display:inline-block;width:5px"> </div>Series B preferred </div><div id="a23674" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">stock financing. The Company issued<div style="display:inline-block;width:5px"> </div>a total of </div><div id="a23674_47_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:263px;top:77px;">15,365,574</div><div id="a23674_57_23" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:323px;top:77px;"><div style="display:inline-block;width:4px"> </div>shares at a price of<div style="display:inline-block;width:5px"> </div>$</div><div id="a23674_80_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:438px;top:77px;">8.00</div><div id="a23674_84_49" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:462px;top:77px;"><div style="display:inline-block;width:4px"> </div>per share. All shares<div style="display:inline-block;width:5px"> </div>of the Company’s<div style="display:inline-block;width:5px"> </div>Series B </div><div id="a23676" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">preferred stock<div style="display:inline-block;width:2px"> </div>converted into<div style="display:inline-block;width:1px"> </div>shares of<div style="display:inline-block;width:2px"> </div>the Company’s Class<div style="display:inline-block;width:1px"> </div>A common<div style="display:inline-block;width:2px"> </div>stock concurrently<div style="display:inline-block;width:2px"> </div>with the<div style="display:inline-block;width:2px"> </div>closing of<div style="display:inline-block;width:2px"> </div>the initial<div style="display:inline-block;width:1px"> </div>public offering.<div style="display:inline-block;width:3px"> </div></div><div id="a23680" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">As of December 31,<div style="display:inline-block;width:5px"> </div>2021, Vaxxinity’s<div style="display:inline-block;width:7px"> </div>Amended and Restated<div style="display:inline-block;width:5px"> </div>Certificate of Incorporation<div style="display:inline-block;width:5px"> </div>authorized </div><div id="a23680_98_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:559px;top:123px;">50,000,000</div><div id="a23680_108_21" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:123px;"><div style="display:inline-block;width:4px"> </div>shares of preferred </div><div id="a23683" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">stock with a par value of $</div><div id="a23683_27_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:146px;top:138px;">0.0001</div><div id="a23683_33_12" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:183px;top:138px;"><div style="display:inline-block;width:3px"> </div>per share. </div><div id="a23686" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">The table below<div style="display:inline-block;width:5px"> </div>details the Company's<div style="display:inline-block;width:5px"> </div>Class A common<div style="display:inline-block;width:5px"> </div>stock which was<div style="display:inline-block;width:5px"> </div>issued upon conversion<div style="display:inline-block;width:5px"> </div>of Series A<div style="display:inline-block;width:5px"> </div>and Series B<div style="display:inline-block;width:5px"> </div>preferred </div><div id="a23688" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">stock concurrently with the<div style="display:inline-block;width:5px"> </div>closing of the IPO<div style="display:inline-block;width:5px"> </div>in November 2021. The<div style="display:inline-block;width:5px"> </div>common stock issued upon<div style="display:inline-block;width:5px"> </div>conversion reflects the application </div><div id="a23690" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">of the stock split described in Note 1.</div></div>
0.2191
3.4233
122800000
15365574
8.00
50000000
0.0001
62223095
39989083
5441863
3497338
9923711
6377699
77588669
49864120
<div id="TextBlockContainer1696" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:675px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23746" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">11.<div style="display:inline-block;width:4px"> </div>Simple Agreement for Future Equity—SAFE </div><div id="a23752" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">During the years<div style="display:inline-block;width:5px"> </div>ended December 31, 2021<div style="display:inline-block;width:5px"> </div>and 2020, the<div style="display:inline-block;width:5px"> </div>Company executed SAFE<div style="display:inline-block;width:5px"> </div>arrangements. The SAFEs were<div style="display:inline-block;width:5px"> </div>not mandatorily </div><div id="a23755" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">redeemable,<div style="display:inline-block;width:5px"> </div>nor<div style="display:inline-block;width:5px"> </div>did<div style="display:inline-block;width:5px"> </div>they<div style="display:inline-block;width:5px"> </div>require<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>repurchase<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>fixed<div style="display:inline-block;width:5px"> </div>number<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>shares.<div style="display:inline-block;width:5px"> </div>The<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>determined<div style="display:inline-block;width:5px"> </div>that<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>SAFEs </div><div id="a23756" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">contained a liquidity<div style="display:inline-block;width:5px"> </div>event provision that<div style="display:inline-block;width:5px"> </div>embodied an obligation<div style="display:inline-block;width:5px"> </div>indexed to the<div style="display:inline-block;width:5px"> </div>fair value of<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:5px"> </div>equity shares and<div style="display:inline-block;width:5px"> </div>could </div><div id="a23759" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">require the Company to settle the SAFE obligation by transferring assets or cash. For this reason, the Company recorded the SAFEs as </div><div id="a23761" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">a liability<div style="display:inline-block;width:5px"> </div>under ASC<div style="display:inline-block;width:5px"> </div>480 and<div style="display:inline-block;width:5px"> </div>re-measured the<div style="display:inline-block;width:5px"> </div>fair value<div style="display:inline-block;width:5px"> </div>at the<div style="display:inline-block;width:5px"> </div>end of<div style="display:inline-block;width:5px"> </div>each reporting<div style="display:inline-block;width:5px"> </div>period, with<div style="display:inline-block;width:5px"> </div>changes in<div style="display:inline-block;width:5px"> </div>fair value<div style="display:inline-block;width:5px"> </div>reported in </div><div id="a23766" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">earnings. </div><div id="a23769" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">In<div style="display:inline-block;width:5px"> </div>March<div style="display:inline-block;width:5px"> </div>2020,<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>issued<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>SAFE<div style="display:inline-block;width:5px"> </div>(“SAFE<div style="display:inline-block;width:5px"> </div>1”)<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>$</div><div id="a23769_57_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:358px;top:138px;">0.4</div><div id="a23769_60_31" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:374px;top:138px;"><div style="display:inline-block;width:5px"> </div>million,<div style="display:inline-block;width:5px"> </div>which<div style="display:inline-block;width:5px"> </div>converted<div style="display:inline-block;width:5px"> </div>into </div><div id="a23770" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:547px;top:138px;">463,162</div><div id="a23771" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:590px;top:138px;"><div style="display:inline-block;width:5px"> </div>shares<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>Series<div style="display:inline-block;width:5px"> </div>Seed-2 </div><div id="a23775" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">convertible preferred stock at </div><div id="a23777" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:165px;top:153px;">$</div><div id="a23777_1_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:172px;top:153px;">0.7773</div><div id="a23778" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:209px;top:153px;"><div style="display:inline-block;width:3px"> </div>per share in April 2020. In June, July,<div style="display:inline-block;width:5px"> </div>and August 2020, the Company issued a series of SAFEs </div><div id="a23780" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">(“SAFE 2”) for $</div><div id="a23780_16_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:96px;top:169px;">14.7</div><div id="a23780_20_31" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:119px;top:169px;"><div style="display:inline-block;width:3px"> </div>million, which converted into </div><div id="a23781" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:283px;top:169px;">6,307,690</div><div id="a23782" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:336px;top:169px;"><div style="display:inline-block;width:3px"> </div>shares of Series A-2 convertible<div style="display:inline-block;width:2px"> </div>preferred stock (“Series A-2 preferred”) </div><div id="a23788" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">at </div><div id="a23789" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:17px;top:184px;">$</div><div id="a23789_1_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#231F20;left:24px;top:184px;">2.3241</div><div id="a23790" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:61px;top:184px;"><div style="display:inline-block;width:3px"> </div>per share in August 2020. </div><div id="a23795" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">The Company determined the fair value<div style="display:inline-block;width:2px"> </div>of SAFE 2 investment on the<div style="display:inline-block;width:2px"> </div>date of conversion and recognized the<div style="display:inline-block;width:2px"> </div>difference between the fair </div><div id="a23797" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">value on the date of conversion and the initial fair value of SAFE 2 investment in the consolidated statements of operations.<div style="display:inline-block;width:2px"> </div></div><div id="a23801" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">In December 2020, the Company<div style="display:inline-block;width:5px"> </div>issued a series of SAFEs<div style="display:inline-block;width:5px"> </div>(collectively, “SAFE<div style="display:inline-block;width:5px"> </div>3”) for $</div><div id="a23801_85_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:486px;top:261px;">24.3</div><div id="a23801_89_39" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:510px;top:261px;"><div style="display:inline-block;width:4px"> </div>million. In January 2021, the<div style="display:inline-block;width:5px"> </div>Company </div><div id="a23803" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">issued additional SAFEs for $</div><div id="a23803_29_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:164px;top:276px;">2.9</div><div id="a23803_32_86" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:181px;top:276px;"><div style="display:inline-block;width:3px"> </div>million which had the same terms as SAFE 3. Key provisions of SAFE 3 are as follows: </div><div id="a23808" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:307px;">Equity Financing</div><div id="a23809" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:104px;top:307px;">—Upon initial closing of a<div style="display:inline-block;width:5px"> </div>qualified financing of at least<div style="display:inline-block;width:5px"> </div>$</div><div id="a23809_60_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:420px;top:307px;">50.0</div><div id="a23809_64_53" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:443px;top:307px;"><div style="display:inline-block;width:4px"> </div>million, SAFE 3 will automatically<div style="display:inline-block;width:5px"> </div>convert into the </div><div id="a23813" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:322px;">greater of (1) the number of<div style="display:inline-block;width:2px"> </div>shares of SAFE 3 preferred stock<div style="display:inline-block;width:2px"> </div>equal to the purchase amount<div style="display:inline-block;width:2px"> </div>divided by the SAFE 3 price,<div style="display:inline-block;width:2px"> </div>defined as the </div><div id="a23815" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:337px;">price per share equal<div style="display:inline-block;width:2px"> </div>to the post-money valuation<div style="display:inline-block;width:2px"> </div>divided by all<div style="display:inline-block;width:2px"> </div>shares outstanding, all convertible<div style="display:inline-block;width:2px"> </div>securities, all issued,<div style="display:inline-block;width:2px"> </div>outstanding and </div><div id="a23819" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:353px;">promised options, and<div style="display:inline-block;width:5px"> </div>the unissued option<div style="display:inline-block;width:5px"> </div>pool, or (2)<div style="display:inline-block;width:5px"> </div>the number of<div style="display:inline-block;width:5px"> </div>shares of SAFE<div style="display:inline-block;width:5px"> </div>3 preferred stock<div style="display:inline-block;width:5px"> </div>equal to the<div style="display:inline-block;width:5px"> </div>purchase amount </div><div id="a23821" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:368px;">divided by the discount<div style="display:inline-block;width:5px"> </div>price, defined as the price<div style="display:inline-block;width:5px"> </div>per share of the<div style="display:inline-block;width:5px"> </div>standard preferred stock sold in<div style="display:inline-block;width:5px"> </div>a qualified financing multiplied by </div><div id="a23823" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:383px;">eighty percent (80%). </div><div id="a23826" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:414px;">Liquidity Event</div><div id="a23827" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:95px;top:414px;">—If there is a liquidity<div style="display:inline-block;width:5px"> </div>event, as defined, before the<div style="display:inline-block;width:5px"> </div>termination of SAFE 3, SAFE 3<div style="display:inline-block;width:5px"> </div>will automatically be entitled to </div><div id="a23829" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:429px;">receive a<div style="display:inline-block;width:5px"> </div>portion of<div style="display:inline-block;width:5px"> </div>proceeds, subject<div style="display:inline-block;width:5px"> </div>to the<div style="display:inline-block;width:5px"> </div>liquidation priority<div style="display:inline-block;width:5px"> </div>set forth<div style="display:inline-block;width:5px"> </div>in the<div style="display:inline-block;width:5px"> </div>agreement, due<div style="display:inline-block;width:5px"> </div>and payable<div style="display:inline-block;width:5px"> </div>immediately prior<div style="display:inline-block;width:5px"> </div>to, or </div><div id="a23831" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:445px;">concurrent with, the consummation of such<div style="display:inline-block;width:2px"> </div>liquidity event, equal to the greater<div style="display:inline-block;width:2px"> </div>of (i) the purchase amount or (ii)<div style="display:inline-block;width:2px"> </div>the amount payable on </div><div id="a23836" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:460px;">the number of shares of common stock equal to the purchase amount divided by the liquidity price, as outlined in the agreements. </div><div id="a23840" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:491px;">Dissolution Event</div><div id="a23841" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:105px;top:491px;">—If there is a dissolution event, as described in the agreements, before the<div style="display:inline-block;width:5px"> </div>termination of SAFE 3, the investor will </div><div id="a23844" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:506px;">automatically be<div style="display:inline-block;width:6px"> </div>entitled, subject<div style="display:inline-block;width:6px"> </div>to the<div style="display:inline-block;width:6px"> </div>liquidation priority<div style="display:inline-block;width:6px"> </div>set forth<div style="display:inline-block;width:6px"> </div>in the<div style="display:inline-block;width:6px"> </div>agreement, to<div style="display:inline-block;width:6px"> </div>receive a<div style="display:inline-block;width:6px"> </div>portion of<div style="display:inline-block;width:6px"> </div>proceeds equal<div style="display:inline-block;width:6px"> </div>to the </div><div id="a23846" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:521px;">purchase amount, due and payable to the investor immediately prior to the consummation of the dissolution event. </div><div id="a23850" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:552px;">Termination</div><div id="a23851" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:76px;top:552px;">—SAFE 3 will automatically terminate immediately following the<div style="display:inline-block;width:5px"> </div>earliest to occur of: (i) the issuance<div style="display:inline-block;width:5px"> </div>of capital stock to </div><div id="a23853" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:567px;">the investor pursuant<div style="display:inline-block;width:5px"> </div>to the automatic<div style="display:inline-block;width:5px"> </div>conversion provisions of<div style="display:inline-block;width:5px"> </div>SAFE 3 or<div style="display:inline-block;width:5px"> </div>(ii) the payment,<div style="display:inline-block;width:5px"> </div>or setting aside<div style="display:inline-block;width:5px"> </div>for payment, of<div style="display:inline-block;width:5px"> </div>amounts </div><div id="a23855" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:583px;">due the investor.<div style="display:inline-block;width:6px"> </div>In connection with<div style="display:inline-block;width:5px"> </div>the Contribution and<div style="display:inline-block;width:5px"> </div>Exchange Agreement, the<div style="display:inline-block;width:5px"> </div>holders of SAFEs agreed<div style="display:inline-block;width:5px"> </div>to convert such<div style="display:inline-block;width:5px"> </div>SAFEs </div><div id="a23857" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:598px;">into shares of Series A-3 preferred stock of COVAXX,<div style="display:inline-block;width:5px"> </div>which shares were then exchanged for shares of Vaxxinity’s<div style="display:inline-block;width:4px"> </div>preferred stock. </div><div id="a23863" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:629px;">The<div style="display:inline-block;width:6px"> </div>SAFEs<div style="display:inline-block;width:6px"> </div>were<div style="display:inline-block;width:6px"> </div>converted<div style="display:inline-block;width:6px"> </div>into<div style="display:inline-block;width:6px"> </div>shares<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>Company’s<div style="display:inline-block;width:7px"> </div>Series<div style="display:inline-block;width:6px"> </div>A<div style="display:inline-block;width:6px"> </div>preferred<div style="display:inline-block;width:6px"> </div>stock<div style="display:inline-block;width:6px"> </div>pursuant<div style="display:inline-block;width:6px"> </div>to<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>Contribution<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>Exchange </div><div id="a23864" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:644px;">Agreement. Prior to the Reorganization,<div style="display:inline-block;width:5px"> </div>all the holders of outstanding COVAXX<div style="display:inline-block;width:6px"> </div>SAFEs agreed to convert such SAFEs<div style="display:inline-block;width:5px"> </div>into shares of </div><div id="a23866" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:659px;">Series A-3 preferred stock of COVAXX,<div style="display:inline-block;width:5px"> </div>which shares were then exchanged for shares of the Company’s Series A preferred stock.</div></div>
400000
463162
0.7773
14700000
6307690
2.3241
24300000
2900000
50000000.0
<div id="TextBlockContainer1698" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:215px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23873" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">12. Common Stock </div><div id="a23879" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">As explained<div style="display:inline-block;width:5px"> </div>in Note<div style="display:inline-block;width:5px"> </div>1, in<div style="display:inline-block;width:5px"> </div>accordance with<div style="display:inline-block;width:5px"> </div>the Contribution<div style="display:inline-block;width:5px"> </div>and Exchange<div style="display:inline-block;width:5px"> </div>Agreement, on<div style="display:inline-block;width:5px"> </div>March 2,<div style="display:inline-block;width:5px"> </div>2021, all<div style="display:inline-block;width:5px"> </div>outstanding shares<div style="display:inline-block;width:5px"> </div>of </div><div id="a23881" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">common<div style="display:inline-block;width:6px"> </div>stock<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>UNS<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>COVAXX<div style="display:inline-block;width:8px"> </div>were<div style="display:inline-block;width:6px"> </div>contributed<div style="display:inline-block;width:6px"> </div>to<div style="display:inline-block;width:6px"> </div>Vaxxinity<div style="display:inline-block;width:7px"> </div>and<div style="display:inline-block;width:6px"> </div>exchanged<div style="display:inline-block;width:6px"> </div>for<div style="display:inline-block;width:6px"> </div>an<div style="display:inline-block;width:6px"> </div>aggregate<div style="display:inline-block;width:6px"> </div>of </div><div id="a23881_95_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:608px;top:46px;">60,360,523</div><div id="a23881_105_11" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:668px;top:46px;"><div style="display:inline-block;width:6px"> </div>shares<div style="display:inline-block;width:6px"> </div>of </div><div id="a23882" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">Vaxxinity’s<div style="display:inline-block;width:6px"> </div>Class A common<div style="display:inline-block;width:5px"> </div>stock and </div><div id="a23882_37_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:223px;top:61px;">10,999,149</div><div id="a23882_47_76" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:283px;top:61px;"><div style="display:inline-block;width:4px"> </div>shares of Vaxxinity’s<div style="display:inline-block;width:7px"> </div>Class B common<div style="display:inline-block;width:5px"> </div>stock. Each UNS<div style="display:inline-block;width:5px"> </div>share of common<div style="display:inline-block;width:5px"> </div>stock </div><div id="a23885" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">was exchanged for </div><div id="a23885_18_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:109px;top:77px;">0.2191</div><div id="a23885_24_90" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:146px;top:77px;"><div style="display:inline-block;width:4px"> </div>shares of Vaxxinity<div style="display:inline-block;width:6px"> </div>common stock and<div style="display:inline-block;width:5px"> </div>each share of COVAXX<div style="display:inline-block;width:7px"> </div>common stock was exchanged<div style="display:inline-block;width:5px"> </div>for </div><div id="a23885_114_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:688px;top:77px;">3.4233</div><div id="a23886" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">shares of Vaxxinity<div style="display:inline-block;width:5px"> </div>common stock.<div style="display:inline-block;width:3px"> </div></div><div id="a23889" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">In June 2021, the Company converted </div><div id="a23889_36_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:211px;top:123px;">2,874,983</div><div id="a23889_45_82" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:264px;top:123px;"><div style="display:inline-block;width:3px"> </div>shares of Class A common stock held by the Company’s Chief Executive Officer and </div><div id="a23891" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">Executive Chairman on a one-to-one basis for shares of Class B common stock.<div style="display:inline-block;width:2px"> </div></div><div id="a23898" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">As of December 31, 2021,<div style="display:inline-block;width:2px"> </div>Vaxxinity’s<div style="display:inline-block;width:5px"> </div>Amended and Restated Certificate<div style="display:inline-block;width:2px"> </div>of Incorporation authorized </div><div id="a23898_98_13" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:548px;top:169px;">1,100,000,000</div><div id="a23898_111_18" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:624px;top:169px;"><div style="display:inline-block;width:3px"> </div>shares of common </div><div id="a23903" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">stock<div style="display:inline-block;width:5px"> </div>with<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>par<div style="display:inline-block;width:5px"> </div>value<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>$</div><div id="a23903_27_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:157px;top:184px;">0.0001</div><div id="a23903_33_21" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:194px;top:184px;"><div style="display:inline-block;width:5px"> </div>per<div style="display:inline-block;width:5px"> </div>share,<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>which </div><div id="a23903_54_13" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:312px;top:184px;">1,000,000,000</div><div id="a23903_67_57" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:388px;top:184px;"><div style="display:inline-block;width:5px"> </div>shares<div style="display:inline-block;width:5px"> </div>have<div style="display:inline-block;width:5px"> </div>been<div style="display:inline-block;width:5px"> </div>designated<div style="display:inline-block;width:5px"> </div>as<div style="display:inline-block;width:5px"> </div>Class<div style="display:inline-block;width:5px"> </div>A<div style="display:inline-block;width:5px"> </div>common<div style="display:inline-block;width:5px"> </div>stock<div style="display:inline-block;width:5px"> </div>and </div><div id="a23907" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">100,000,000</div><div id="a23907_11_55" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:71px;top:199px;"><div style="display:inline-block;width:3px"> </div>shares have been designated as Class B common stock.<div style="display:inline-block;width:3px"> </div></div></div><div id="TextBlockContainer1700" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:326px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23918" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">Holders of Class<div style="display:inline-block;width:2px"> </div>A common stock<div style="display:inline-block;width:1px"> </div>and Class B<div style="display:inline-block;width:1px"> </div>common stock have<div style="display:inline-block;width:1px"> </div>identical rights,<div style="display:inline-block;width:2px"> </div>except with respect<div style="display:inline-block;width:1px"> </div>to voting and<div style="display:inline-block;width:1px"> </div>conversion. Except </div><div id="a23921" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">as otherwise expressly provided<div style="display:inline-block;width:2px"> </div>in Vaxxinity’s<div style="display:inline-block;width:5px"> </div>Amended and Restated Certificate<div style="display:inline-block;width:2px"> </div>of Incorporation or Bylaws,<div style="display:inline-block;width:2px"> </div>or required by applicable </div><div id="a23923" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">law,<div style="display:inline-block;width:5px"> </div>holders of<div style="display:inline-block;width:5px"> </div>Class A<div style="display:inline-block;width:6px"> </div>common stock<div style="display:inline-block;width:5px"> </div>will be<div style="display:inline-block;width:6px"> </div>entitled to<div style="display:inline-block;width:5px"> </div>one vote<div style="display:inline-block;width:6px"> </div>per share<div style="display:inline-block;width:5px"> </div>on all<div style="display:inline-block;width:6px"> </div>matters submitted<div style="display:inline-block;width:5px"> </div>to a<div style="display:inline-block;width:6px"> </div>vote of<div style="display:inline-block;width:6px"> </div>stockholders and </div><div id="a23926" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">holders of our Class B common stock will be entitled to ten votes per share on all matters submitted to a vote of stockholders.<div style="display:inline-block;width:2px"> </div></div><div id="a23930" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">Holders of<div style="display:inline-block;width:6px"> </div>Class A<div style="display:inline-block;width:6px"> </div>common stock<div style="display:inline-block;width:6px"> </div>and Class<div style="display:inline-block;width:6px"> </div>B common<div style="display:inline-block;width:6px"> </div>stock vote<div style="display:inline-block;width:6px"> </div>together as<div style="display:inline-block;width:6px"> </div>a single<div style="display:inline-block;width:6px"> </div>class on<div style="display:inline-block;width:6px"> </div>all matters<div style="display:inline-block;width:6px"> </div>submitted to<div style="display:inline-block;width:6px"> </div>a vote<div style="display:inline-block;width:6px"> </div>of </div><div id="a23932" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">stockholders, except (i) amendments to Vaxxinity’s<div style="display:inline-block;width:5px"> </div>Amended and Restated<div style="display:inline-block;width:3px"> </div></div><div id="a23935" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">Certificate of Incorporation to increase or decrease the par value of a class of capital stock, in which case the applicable class would be </div><div id="a23937" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">required to vote separately to approve the proposed amendment and (ii) amendments to Vaxxinity’s<div style="display:inline-block;width:5px"> </div>Amended and Restated Certificate </div><div id="a23939" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">of Incorporation<div style="display:inline-block;width:6px"> </div>that alter<div style="display:inline-block;width:6px"> </div>or change<div style="display:inline-block;width:6px"> </div>the powers,<div style="display:inline-block;width:6px"> </div>preferences or<div style="display:inline-block;width:6px"> </div>special rights<div style="display:inline-block;width:5px"> </div>of a<div style="display:inline-block;width:6px"> </div>class of<div style="display:inline-block;width:6px"> </div>capital stock<div style="display:inline-block;width:6px"> </div>in a<div style="display:inline-block;width:6px"> </div>manner that<div style="display:inline-block;width:6px"> </div>affects its </div><div id="a23941" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">holders adversely, in which case the applicable class would be required to vote separately to approve the proposed amendment.<div style="display:inline-block;width:3px"> </div></div><div id="a23945" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">Holders of common stock are<div style="display:inline-block;width:5px"> </div>entitled to receive, ratably,<div style="display:inline-block;width:5px"> </div>dividends as may be declared<div style="display:inline-block;width:5px"> </div>by Vaxxinity’s<div style="display:inline-block;width:6px"> </div>board of directors out of<div style="display:inline-block;width:5px"> </div>funds </div><div id="a23947" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">legally available therefor if the board of directors, in its discretion, determines to issue dividends.<div style="display:inline-block;width:2px"> </div></div><div id="a23950" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">The voting,<div style="display:inline-block;width:6px"> </div>dividend, and<div style="display:inline-block;width:6px"> </div>liquidation rights<div style="display:inline-block;width:6px"> </div>of the<div style="display:inline-block;width:6px"> </div>holders of<div style="display:inline-block;width:6px"> </div>common stock<div style="display:inline-block;width:6px"> </div>are subject<div style="display:inline-block;width:6px"> </div>to and<div style="display:inline-block;width:6px"> </div>qualified by<div style="display:inline-block;width:6px"> </div>the rights,<div style="display:inline-block;width:6px"> </div>powers, and </div><div id="a23952" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">preferences of the holders of Vaxxinity’s<div style="display:inline-block;width:5px"> </div>preferred stock.<div style="display:inline-block;width:3px"> </div></div><div id="a23955" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:310px;">The Company has reserved shares of common stock for issuance for the following purposes:</div></div><div id="TextBlockContainer1704" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:188px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1702_XBRL_TS_0fb9ce13b678409cabb7abd08dc0af77" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1703" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:188px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23959" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:586px;top:0px;">December 31, </div><div id="a23964" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:559px;top:18px;">2021 </div><div id="a23967" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:664px;top:18px;">2020 </div><div id="a23969" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Series Seed preferred </div><div id="a23971" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:35px;">— </div><div id="a23974" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:35px;">7,831,528</div><div id="a23976" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Series Seed-1 preferred </div><div id="a23980" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:52px;">— </div><div id="a23983" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:661px;top:52px;">22,876,457</div><div id="a23985" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Series Seed-2 preferred </div><div id="a23989" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:69px;">— </div><div id="a23992" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:661px;top:69px;">14,615,399</div><div id="a23994" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Series A-1 preferred </div><div id="a23998" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:86px;">— </div><div id="a24001" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:86px;">1,871,511</div><div id="a24003" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Series A-2 preferred </div><div id="a24007" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:103px;">— </div><div id="a24010" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:103px;">6,307,690</div><div id="a24012" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:120px;">Options issued and outstanding </div><div id="a24014" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:556px;top:120px;">21,387,909</div><div id="a24017" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:120px;">9,276,399</div><div id="a24019" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:137px;">Options available for future grants </div><div id="a24021" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:562px;top:137px;">7,209,538</div><div id="a24024" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:137px;">1,897,049</div><div id="a24026" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:154px;">Warrants issued and outstanding </div><div id="a24028" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:562px;top:154px;">1,928,020</div><div id="a24031" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:154px;">86,186</div><div id="a24034" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:525px;top:171px;"><div style="display:inline-block;width:33px"> </div></div><div id="a24034_10_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:558px;top:171px;">30,525,467</div><div id="a24038" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:661px;top:171px;">64,762,219</div></div></div></div>
60360523
10999149
0.2191
3.4233
2874983
1100000000
0.0001
1000000000
100000000
<div id="TextBlockContainer1703" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:188px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23959" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:586px;top:0px;">December 31, </div><div id="a23964" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:559px;top:18px;">2021 </div><div id="a23967" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:664px;top:18px;">2020 </div><div id="a23969" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Series Seed preferred </div><div id="a23971" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:35px;">— </div><div id="a23974" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:35px;">7,831,528</div><div id="a23976" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Series Seed-1 preferred </div><div id="a23980" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:52px;">— </div><div id="a23983" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:661px;top:52px;">22,876,457</div><div id="a23985" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Series Seed-2 preferred </div><div id="a23989" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:69px;">— </div><div id="a23992" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:661px;top:69px;">14,615,399</div><div id="a23994" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Series A-1 preferred </div><div id="a23998" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:86px;">— </div><div id="a24001" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:86px;">1,871,511</div><div id="a24003" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Series A-2 preferred </div><div id="a24007" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:602px;top:103px;">— </div><div id="a24010" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:103px;">6,307,690</div><div id="a24012" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:120px;">Options issued and outstanding </div><div id="a24014" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:556px;top:120px;">21,387,909</div><div id="a24017" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:120px;">9,276,399</div><div id="a24019" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:137px;">Options available for future grants </div><div id="a24021" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:562px;top:137px;">7,209,538</div><div id="a24024" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:137px;">1,897,049</div><div id="a24026" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:154px;">Warrants issued and outstanding </div><div id="a24028" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:562px;top:154px;">1,928,020</div><div id="a24031" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:154px;">86,186</div><div id="a24034" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:525px;top:171px;"><div style="display:inline-block;width:33px"> </div></div><div id="a24034_10_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:558px;top:171px;">30,525,467</div><div id="a24038" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:661px;top:171px;">64,762,219</div></div>
7831528
22876457
14615399
1871511
6307690
21387909
9276399
7209538
1897049
1928020
86186
30525467
64762219
21593830
6362455
8700000
7209538
15025454
6362455
8652630
4786936
7209538
<div id="TextBlockContainer1712" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:731px;height:236px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1710_XBRL_TS_55e43292d3e74bfbb1d0b682d7ea9285" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1711" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:731px;height:236px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24155" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:302px;top:0px;">Number of Stock </div><div id="a24156" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:328px;top:15px;">Options </div><div id="a24157" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:315px;top:31px;">Outstanding </div><div id="a24160" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:415px;top:15px;">Weighted Price </div><div id="a24161" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:431px;top:31px;">Per Share </div><div id="a24164" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:537px;top:0px;">Weighted </div><div id="a24165" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:530px;top:15px;">Contractual </div><div id="a24166" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:527px;top:31px;">Term (years) </div><div id="a24169" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:644px;top:0px;">Aggregate </div><div id="a24170" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:631px;top:15px;">Intrinsic Value </div><div id="a24172" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:633px;top:31px;">(in thousands) </div><div id="a24184" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:65px;">Balance at December 31, 2019 </div><div id="a24186" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:343px;top:65px;">7,610,289</div><div id="a24189" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:411px;top:65px;">$ </div><div id="a24191" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:65px;">0.33</div><div id="a24194" style="position:absolute;font-family:'Times New Roman';left:590px;top:65px;">8.6</div><div id="a24197" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:621px;top:65px;">$ </div><div id="a24199" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:693px;top:65px;">2,357</div><div id="a24201" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:82px;">Granted </div><div id="a24203" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:343px;top:82px;">2,672,152</div><div id="a24207" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:82px;">1.17</div><div id="a24214" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:99px;">Exercised </div><div id="a24216" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:348px;top:99px;display:flex;">(283,290)</div><div id="a24220" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:99px;">0.29</div><div id="a24227" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:116px;">Forfeited </div><div id="a24229" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:348px;top:116px;display:flex;">(722,752)</div><div id="a24233" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:116px;">0.29</div><div id="a24240" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:133px;">Balance at December 31, 2020 </div><div id="a24242" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:343px;top:133px;">9,276,399</div><div id="a24245" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:411px;top:133px;">$ </div><div id="a24247" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:133px;">0.60</div><div id="a24250" style="position:absolute;font-family:'Times New Roman';left:590px;top:133px;">7.6</div><div id="a24253" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:621px;top:133px;">$ </div><div id="a24255" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:693px;top:133px;">8,415</div><div id="a24257" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:151px;">Granted </div><div id="a24259" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:336px;top:151px;">13,482,915</div><div id="a24263" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:151px;">8.20</div><div id="a24270" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:168px;">Exercised </div><div id="a24272" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:348px;top:168px;display:flex;">(186,204)</div><div id="a24276" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:168px;">0.91</div><div id="a24283" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:185px;">Forfeited </div><div id="a24285" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:338px;top:185px;display:flex;">(1,185,201)</div><div id="a24289" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:185px;">2.98</div><div id="a24296" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:203px;">Balance at December 31, 2021 </div><div id="a24298" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:336px;top:203px;">21,387,909</div><div id="a24301" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:411px;top:203px;">$ </div><div id="a24303" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:203px;">5.25</div><div id="a24306" style="position:absolute;font-family:'Times New Roman';left:590px;top:203px;">7.4</div><div id="a24309" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:621px;top:203px;">$ </div><div id="a24311" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:203px;">49,684</div><div id="a24313" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:220px;">Options vested and exercisable at December 31, 2021 </div><div id="a24315" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:336px;top:220px;">13,439,566</div><div id="a24318" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:411px;top:220px;">$ </div><div id="a24320" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:220px;">4.40</div><div id="a24323" style="position:absolute;font-family:'Times New Roman';left:590px;top:220px;">6.8</div><div id="a24326" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:621px;top:220px;">$ </div><div id="a24328" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:220px;">37,969</div></div></div></div>
7610289
0.33
P8Y7M6D
2357000
2672152
1.17
283290
0.29
722752
0.29
9276399
0.60
P7Y7M6D
8415000
13482915
8.20
186204
0.91
1185201
2.98
21387909
5.25
P7Y4M24D
49684000
13439566
4.40
P6Y9M18D
37969000
100000
100000
4.21
0.50
24500000
800000
<div id="TextBlockContainer1720" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1718_XBRL_TS_953bc536e4f1400ab1af11cc6e95ec14" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1719" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24381" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:576px;top:0px;">December 31, </div><div id="a24386" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:544px;top:17px;">2021 </div><div id="a24389" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:659px;top:17px;">2020 </div><div id="a24391" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Risk-free interest rate </div><div id="a24395" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:517px;top:35px;">0.59% - 1.35% </div><div id="a24401" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:632px;top:35px;">0.34% - 0.38% </div><div id="a24406" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Expected term (in years) </div><div id="a24408" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:528px;top:52px;">5.00 - 6.30 </div><div id="a24414" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:643px;top:52px;">5.60 - 6.08 </div><div id="a24419" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Expected volatility </div><div id="a24421" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:510px;top:69px;">71.60% - 93.40% </div><div id="a24427" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:625px;top:69px;">70.90% - 86.84% </div><div id="a24432" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Expected dividend yield </div><div id="a24434" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:540px;top:86px;">0.00% </div><div id="a24437" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:655px;top:86px;">0.00%</div></div></div></div><div id="TextBlockContainer1711" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:731px;height:236px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24155" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:302px;top:0px;">Number of Stock </div><div id="a24156" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:328px;top:15px;">Options </div><div id="a24157" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:315px;top:31px;">Outstanding </div><div id="a24160" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:415px;top:15px;">Weighted Price </div><div id="a24161" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:431px;top:31px;">Per Share </div><div id="a24164" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:537px;top:0px;">Weighted </div><div id="a24165" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:530px;top:15px;">Contractual </div><div id="a24166" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:527px;top:31px;">Term (years) </div><div id="a24169" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:644px;top:0px;">Aggregate </div><div id="a24170" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:631px;top:15px;">Intrinsic Value </div><div id="a24172" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:633px;top:31px;">(in thousands) </div><div id="a24184" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:65px;">Balance at December 31, 2019 </div><div id="a24186" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:343px;top:65px;">7,610,289</div><div id="a24189" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:411px;top:65px;">$ </div><div id="a24191" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:65px;">0.33</div><div id="a24194" style="position:absolute;font-family:'Times New Roman';left:590px;top:65px;">8.6</div><div id="a24197" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:621px;top:65px;">$ </div><div id="a24199" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:693px;top:65px;">2,357</div><div id="a24201" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:82px;">Granted </div><div id="a24203" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:343px;top:82px;">2,672,152</div><div id="a24207" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:82px;">1.17</div><div id="a24214" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:99px;">Exercised </div><div id="a24216" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:348px;top:99px;display:flex;">(283,290)</div><div id="a24220" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:99px;">0.29</div><div id="a24227" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:116px;">Forfeited </div><div id="a24229" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:348px;top:116px;display:flex;">(722,752)</div><div id="a24233" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:116px;">0.29</div><div id="a24240" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:133px;">Balance at December 31, 2020 </div><div id="a24242" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:343px;top:133px;">9,276,399</div><div id="a24245" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:411px;top:133px;">$ </div><div id="a24247" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:133px;">0.60</div><div id="a24250" style="position:absolute;font-family:'Times New Roman';left:590px;top:133px;">7.6</div><div id="a24253" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:621px;top:133px;">$ </div><div id="a24255" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:693px;top:133px;">8,415</div><div id="a24257" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:151px;">Granted </div><div id="a24259" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:336px;top:151px;">13,482,915</div><div id="a24263" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:151px;">8.20</div><div id="a24270" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:168px;">Exercised </div><div id="a24272" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:348px;top:168px;display:flex;">(186,204)</div><div id="a24276" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:168px;">0.91</div><div id="a24283" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:185px;">Forfeited </div><div id="a24285" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:338px;top:185px;display:flex;">(1,185,201)</div><div id="a24289" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:185px;">2.98</div><div id="a24296" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:203px;">Balance at December 31, 2021 </div><div id="a24298" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:336px;top:203px;">21,387,909</div><div id="a24301" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:411px;top:203px;">$ </div><div id="a24303" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:203px;">5.25</div><div id="a24306" style="position:absolute;font-family:'Times New Roman';left:590px;top:203px;">7.4</div><div id="a24309" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:621px;top:203px;">$ </div><div id="a24311" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:203px;">49,684</div><div id="a24313" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:220px;">Options vested and exercisable at December 31, 2021 </div><div id="a24315" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:336px;top:220px;">13,439,566</div><div id="a24318" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:411px;top:220px;">$ </div><div id="a24320" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:480px;top:220px;">4.40</div><div id="a24323" style="position:absolute;font-family:'Times New Roman';left:590px;top:220px;">6.8</div><div id="a24326" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:621px;top:220px;">$ </div><div id="a24328" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:220px;">37,969</div></div><div id="TextBlockContainer1731" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:727px;height:130px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24606" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:550px;top:46px;">Number of </div><div id="a24607" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:562px;top:61px;">Shares </div><div id="a24610" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:650px;top:0px;">Weighted </div><div id="a24611" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:654px;top:15px;">Average </div><div id="a24612" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:645px;top:31px;">Grant Date </div><div id="a24613" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:647px;top:46px;">Fair Value </div><div id="a24614" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:649px;top:61px;">Per Share </div><div id="a24616" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:79px;">Unvested at December 31, 2020 </div><div id="a24618" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:581px;top:79px;">15,405</div><div id="a24621" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:637px;top:79px;">$ </div><div id="a24623" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:79px;">0.50</div><div id="a24625" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:96px;">Vested </div><div id="a24627" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:576px;top:96px;display:flex;">(15,405)</div><div id="a24631" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:96px;display:flex;">(0.50)</div><div id="a24633" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:115px;">Unvested at December 31, 2021 </div><div id="a24635" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:115px;">— </div><div id="a24638" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:637px;top:115px;">$ </div><div id="a24640" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:115px;">—</div></div><div id="TextBlockContainer1737" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24674" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:555px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a24677" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:17px;">2021 </div><div id="a24680" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:17px;">2020 </div><div id="a24682" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Research and development </div><div id="a24684" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:35px;">$ </div><div id="a24686" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:35px;">1,343</div><div id="a24689" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:35px;">$ </div><div id="a24691" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:35px;">243</div><div id="a24693" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">General and administrative </div><div id="a24696" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:52px;">29,069</div><div id="a24700" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:52px;">771</div><div id="a24702" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:70px;">Total stock-based compensation expense </div><div id="a24706" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:70px;">$ </div><div id="a24708" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:70px;">30,412</div><div id="a24711" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:70px;">$ </div><div id="a24713" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:70px;">1,014</div></div><div id="TextBlockContainer1706" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:341px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24044" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">13. Equity Incentive Plan </div><div id="a24052" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:31px;">Stock Options </div><div id="a24055" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">In March 2021, the<div style="display:inline-block;width:2px"> </div>Company replaced the 2017<div style="display:inline-block;width:2px"> </div>and 2020 Stock Option<div style="display:inline-block;width:2px"> </div>and Grant Plans with<div style="display:inline-block;width:2px"> </div>the newly-adopted 2021 Stock<div style="display:inline-block;width:2px"> </div>Option and </div><div id="a24059" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">Grant<div style="display:inline-block;width:5px"> </div>Plan<div style="display:inline-block;width:5px"> </div>(the “Existing<div style="display:inline-block;width:6px"> </div>2021<div style="display:inline-block;width:5px"> </div>Plan”), which<div style="display:inline-block;width:6px"> </div>provided for<div style="display:inline-block;width:6px"> </div>the Company<div style="display:inline-block;width:6px"> </div>to grant<div style="display:inline-block;width:6px"> </div>qualified<div style="display:inline-block;width:5px"> </div>incentive options,<div style="display:inline-block;width:6px"> </div>nonqualified options, </div><div id="a24061" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">restricted<div style="display:inline-block;width:6px"> </div>stock<div style="display:inline-block;width:6px"> </div>awards,<div style="display:inline-block;width:6px"> </div>unrestricted<div style="display:inline-block;width:6px"> </div>stock<div style="display:inline-block;width:6px"> </div>awards,<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>restricted<div style="display:inline-block;width:6px"> </div>stock<div style="display:inline-block;width:6px"> </div>units<div style="display:inline-block;width:6px"> </div>to<div style="display:inline-block;width:6px"> </div>employees<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>non-employees<div style="display:inline-block;width:6px"> </div>to<div style="display:inline-block;width:6px"> </div>purchase<div style="display:inline-block;width:6px"> </div>the </div><div id="a24065" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">Company’s<div style="display:inline-block;width:5px"> </div>Class A<div style="display:inline-block;width:5px"> </div>common stock.<div style="display:inline-block;width:5px"> </div>The Existing<div style="display:inline-block;width:5px"> </div>2021 Plan<div style="display:inline-block;width:5px"> </div>authorized the<div style="display:inline-block;width:5px"> </div>issuance of<div style="display:inline-block;width:5px"> </div>up to </div><div id="a24065_88_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:514px;top:107px;">21,593,830</div><div id="a24065_98_26" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:574px;top:107px;"><div style="display:inline-block;width:4px"> </div>shares of<div style="display:inline-block;width:5px"> </div>Class A<div style="display:inline-block;width:5px"> </div>common </div><div id="a24066" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">stock pursuant to awards. </div><div id="a24069" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">In<div style="display:inline-block;width:5px"> </div>August<div style="display:inline-block;width:5px"> </div>2021,<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>canceled<div style="display:inline-block;width:5px"> </div>existing<div style="display:inline-block;width:5px"> </div>options<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>purchase,<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>aggregate, </div><div id="a24069_81_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:468px;top:153px;">6,362,455</div><div id="a24069_90_35" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:521px;top:153px;"><div style="display:inline-block;width:5px"> </div>shares<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>Class<div style="display:inline-block;width:5px"> </div>A<div style="display:inline-block;width:5px"> </div>common<div style="display:inline-block;width:5px"> </div>stock<div style="display:inline-block;width:5px"> </div>in </div><div id="a24072" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">exchange for an equal number of options to purchase shares of Class B common stock. The Company accounted for this exchange as a </div><div id="a24074" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">stock option modification.<div style="display:inline-block;width:3px"> </div></div><div id="a24077" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">In November 2021,<div style="display:inline-block;width:2px"> </div>the Company replaced<div style="display:inline-block;width:2px"> </div>the Existing 2021<div style="display:inline-block;width:2px"> </div>Plan with the<div style="display:inline-block;width:2px"> </div>2021 Omnibus Incentive<div style="display:inline-block;width:2px"> </div>Compensation Plan (the<div style="display:inline-block;width:2px"> </div>“New 2021 </div><div id="a24080" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">Plan”), which<div style="display:inline-block;width:6px"> </div>provides for<div style="display:inline-block;width:6px"> </div>the Company<div style="display:inline-block;width:6px"> </div>to grant<div style="display:inline-block;width:6px"> </div>nonqualified stock<div style="display:inline-block;width:6px"> </div>options,<div style="display:inline-block;width:5px"> </div>incentive (qualified)<div style="display:inline-block;width:6px"> </div>stock options,<div style="display:inline-block;width:6px"> </div>stock<div style="display:inline-block;width:5px"> </div>appreciation </div><div id="a24082" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">rights,<div style="display:inline-block;width:6px"> </div>restricted<div style="display:inline-block;width:6px"> </div>share<div style="display:inline-block;width:6px"> </div>awards,<div style="display:inline-block;width:6px"> </div>restricted<div style="display:inline-block;width:6px"> </div>stock<div style="display:inline-block;width:6px"> </div>units,<div style="display:inline-block;width:6px"> </div>performance<div style="display:inline-block;width:6px"> </div>awards,<div style="display:inline-block;width:6px"> </div>cash<div style="display:inline-block;width:6px"> </div>incentive<div style="display:inline-block;width:6px"> </div>awards<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>other<div style="display:inline-block;width:6px"> </div>equity-based<div style="display:inline-block;width:6px"> </div>awards </div><div id="a24086" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">(including fully<div style="display:inline-block;width:2px"> </div>vested shares).<div style="display:inline-block;width:2px"> </div>The New<div style="display:inline-block;width:2px"> </div>2021 Plan<div style="display:inline-block;width:2px"> </div>replaced the<div style="display:inline-block;width:2px"> </div>Existing 2021<div style="display:inline-block;width:2px"> </div>Plan and<div style="display:inline-block;width:2px"> </div>no further<div style="display:inline-block;width:2px"> </div>grants will<div style="display:inline-block;width:2px"> </div>be made<div style="display:inline-block;width:2px"> </div>under the<div style="display:inline-block;width:2px"> </div>Existing </div><div id="a24088" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">2021 Plan. The following is a summary of certain terms and conditions of the New 2021 Plan. </div><div id="a24093" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:310px;">The maximum number of<div style="display:inline-block;width:5px"> </div>shares of common stock<div style="display:inline-block;width:5px"> </div>that can be issued under<div style="display:inline-block;width:5px"> </div>the New 2021 Plan<div style="display:inline-block;width:5px"> </div>is </div><div id="a24093_91_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:533px;top:310px;">8,700,000</div><div id="a24093_100_27" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:586px;top:310px;"><div style="display:inline-block;width:4px"> </div>shares of Class A<div style="display:inline-block;width:5px"> </div>shares. </div><div id="a24095" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:325px;">As<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>December<div style="display:inline-block;width:5px"> </div>31,<div style="display:inline-block;width:5px"> </div>2021, </div><div id="a24095_25_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:157px;top:325px;">7,209,538</div><div id="a24095_34_96" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:211px;top:325px;"><div style="display:inline-block;width:5px"> </div>shares<div style="display:inline-block;width:5px"> </div>were<div style="display:inline-block;width:5px"> </div>available<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>future<div style="display:inline-block;width:5px"> </div>grant.<div style="display:inline-block;width:5px"> </div>Shares<div style="display:inline-block;width:5px"> </div>that<div style="display:inline-block;width:5px"> </div>are<div style="display:inline-block;width:5px"> </div>forfeited,<div style="display:inline-block;width:5px"> </div>canceled,<div style="display:inline-block;width:5px"> </div>reacquired<div style="display:inline-block;width:5px"> </div>by<div style="display:inline-block;width:5px"> </div>the </div></div><div id="TextBlockContainer1708" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:307px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24105" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">Company prior to vesting, satisfied without the issuance<div style="display:inline-block;width:2px"> </div>of stock, withheld to cover the exercise<div style="display:inline-block;width:2px"> </div>price or tax withholdings, or otherwise </div><div id="a24107" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">terminated, other than by exercise, shall be added back to the Shares available for issuance under the New 2021 Plan. </div><div id="a24111" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">The exercise<div style="display:inline-block;width:5px"> </div>price for<div style="display:inline-block;width:5px"> </div>grants made<div style="display:inline-block;width:5px"> </div>pursuant to<div style="display:inline-block;width:5px"> </div>the terms<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>New 2021<div style="display:inline-block;width:5px"> </div>Plan is<div style="display:inline-block;width:5px"> </div>determined in<div style="display:inline-block;width:5px"> </div>the applicable grant<div style="display:inline-block;width:5px"> </div>by the<div style="display:inline-block;width:5px"> </div>board of </div><div id="a24113" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">directors. Any incentive options granted to persons possessing less than 10% of the total combined voting power of all classes of stock </div><div id="a24115" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">may not have an exercise price<div style="display:inline-block;width:2px"> </div>of less than 100% of the fair<div style="display:inline-block;width:2px"> </div>market value of the common stock<div style="display:inline-block;width:2px"> </div>on the grant date. Any incentive options </div><div id="a24117" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">granted to persons possessing more than 10% of the total combined voting power of all classes of stock may not have an exercise price </div><div id="a24120" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">of less than 110% of the fair market value of the common stock on the grant date.<div style="display:inline-block;width:3px"> </div></div><div id="a24123" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">The option term for incentive awards may not be greater than ten years from the date of the grant. Incentive options granted to persons </div><div id="a24125" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">possessing more than 10% of<div style="display:inline-block;width:5px"> </div>the total combined voting power<div style="display:inline-block;width:5px"> </div>of all classes of stock<div style="display:inline-block;width:5px"> </div>may not have an option<div style="display:inline-block;width:5px"> </div>term of greater than five </div><div id="a24127" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">years from the date of the grant. The vesting period for equity-based awards is determined at the discretion of the board of directors.<div style="display:inline-block;width:2px"> </div></div><div id="a24133" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">As of December<div style="display:inline-block;width:5px"> </div>31, 2021 there<div style="display:inline-block;width:5px"> </div>were options for </div><div id="a24133_47_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:272px;top:199px;">15,025,454</div><div id="a24133_57_53" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:332px;top:199px;"><div style="display:inline-block;width:4px"> </div>shares of Class<div style="display:inline-block;width:5px"> </div>A stock outstanding<div style="display:inline-block;width:5px"> </div>and options for </div><div id="a24133_110_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:199px;">6,362,455</div><div id="a24133_119_11" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:672px;top:199px;"><div style="display:inline-block;width:4px"> </div>shares of </div><div id="a24135" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">Class B stock outstanding,<div style="display:inline-block;width:5px"> </div>of which </div><div id="a24135_36_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:202px;top:215px;">8,652,630</div><div id="a24135_45_13" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:256px;top:215px;"><div style="display:inline-block;width:4px"> </div>Class A and </div><div id="a24135_58_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:328px;top:215px;">4,786,936</div><div id="a24135_67_63" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:382px;top:215px;"><div style="display:inline-block;width:4px"> </div>Class B shares were<div style="display:inline-block;width:5px"> </div>exercisable, respectively.<div style="display:inline-block;width:5px"> </div>As of December </div><div id="a24144" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">31, 2021, the maximum number of stock options awards available for future issuance under the Company’s plans is </div><div id="a24144_112_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:624px;top:230px;">7,209,538</div><div id="a24144_121_2" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:678px;top:230px;">. </div><div id="a24147" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:261px;">Stock Option Activity </div><div id="a24150" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">The following table summarizes stock option activity for the years ended December 31, 2021 and 2020:</div></div><div id="TextBlockContainer1714" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:200px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24331" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">The aggregate intrinsic value of options<div style="display:inline-block;width:2px"> </div>is calculated as the difference between<div style="display:inline-block;width:2px"> </div>the exercise price of the<div style="display:inline-block;width:2px"> </div>options and the fair value of<div style="display:inline-block;width:2px"> </div>the </div><div id="a24334" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">common stock for those options that had exercise prices lower than the fair value of the common stock. </div><div id="a24337" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">The intrinsic value of options exercised during each of the years ended December 31, 2021 and 2020 were less than $</div><div id="a24337_115_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:631px;top:46px;">0.1</div><div id="a24337_118_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:648px;top:46px;"><div style="display:inline-block;width:3px"> </div>million. </div><div id="a24344" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">The weighted-average grant-date fair<div style="display:inline-block;width:2px"> </div>value per share of options<div style="display:inline-block;width:2px"> </div>granted during the years ended<div style="display:inline-block;width:2px"> </div>December 31, 2021 and 2020<div style="display:inline-block;width:2px"> </div>was $</div><div id="a24344_127_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:77px;">4.21</div><div id="a24349" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">and $</div><div id="a24349_5_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:34px;top:92px;">0.50</div><div id="a24349_9_16" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:57px;top:92px;">, respectively. </div><div id="a24352" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">The<div style="display:inline-block;width:6px"> </div>total<div style="display:inline-block;width:5px"> </div>fair<div style="display:inline-block;width:5px"> </div>value<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>options<div style="display:inline-block;width:5px"> </div>vested<div style="display:inline-block;width:5px"> </div>during<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>years<div style="display:inline-block;width:5px"> </div>ended<div style="display:inline-block;width:5px"> </div>December<div style="display:inline-block;width:5px"> </div>31,<div style="display:inline-block;width:5px"> </div>2021<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>2020<div style="display:inline-block;width:5px"> </div>was<div style="display:inline-block;width:5px"> </div>$</div><div id="a24352_94_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:556px;top:123px;">24.5</div><div id="a24352_98_14" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:580px;top:123px;"><div style="display:inline-block;width:6px"> </div>million<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>$</div><div id="a24352_112_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:660px;top:123px;">0.8</div><div id="a24352_115_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:677px;top:123px;"><div style="display:inline-block;width:6px"> </div>million, </div><div id="a24354" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">respectively. </div><div id="a24357" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:italic;color:#000000;left:4px;top:169px;">Valuation<div style="display:inline-block;width:5px"> </div>of Stock Options Granted that Contain Service Conditions Only</div><div id="a24358" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:400px;top:169px;"><div style="display:inline-block;width:3px"> </div></div></div><div id="TextBlockContainer1716" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24369" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">The fair<div style="display:inline-block;width:5px"> </div>value of<div style="display:inline-block;width:5px"> </div>each option<div style="display:inline-block;width:5px"> </div>award granted<div style="display:inline-block;width:5px"> </div>with service-based<div style="display:inline-block;width:5px"> </div>vesting is<div style="display:inline-block;width:5px"> </div>estimated on<div style="display:inline-block;width:5px"> </div>the date<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>grant using<div style="display:inline-block;width:5px"> </div>the Black-Scholes </div><div id="a24375" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">option valuation model<div style="display:inline-block;width:5px"> </div>based on the<div style="display:inline-block;width:5px"> </div>assumptions noted in<div style="display:inline-block;width:5px"> </div>the table below<div style="display:inline-block;width:5px"> </div>for those options<div style="display:inline-block;width:5px"> </div>granted in the<div style="display:inline-block;width:5px"> </div>years ended December<div style="display:inline-block;width:5px"> </div>31, </div><div id="a24377" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">2021 and 2020:</div></div><div id="TextBlockContainer1722" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:246px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24440" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">In August 2021, the<div style="display:inline-block;width:2px"> </div>Company canceled 378,786<div style="display:inline-block;width:2px"> </div>existing Class A common<div style="display:inline-block;width:2px"> </div>stock options with service-based<div style="display:inline-block;width:2px"> </div>conditions held by Mei<div style="display:inline-block;width:2px"> </div>Mei </div><div id="a24444" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">Hu in exchange<div style="display:inline-block;width:2px"> </div>for an equal number<div style="display:inline-block;width:2px"> </div>of options to purchase<div style="display:inline-block;width:2px"> </div>shares of Class B<div style="display:inline-block;width:2px"> </div>common stock. The Company<div style="display:inline-block;width:2px"> </div>accounted for this<div style="display:inline-block;width:2px"> </div>exchange </div><div id="a24446" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">as a stock option modification.<div style="display:inline-block;width:5px"> </div>There was no incremental stock-based<div style="display:inline-block;width:2px"> </div>compensation expense as a result<div style="display:inline-block;width:2px"> </div>of this modification as the fair-</div><div id="a24452" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">value-based measures<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>modified award<div style="display:inline-block;width:5px"> </div>immediately after<div style="display:inline-block;width:5px"> </div>the modification<div style="display:inline-block;width:5px"> </div>were less<div style="display:inline-block;width:5px"> </div>than the<div style="display:inline-block;width:5px"> </div>fair-value-based measures<div style="display:inline-block;width:5px"> </div>of the </div><div id="a24459" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">original award immediately before the modification. </div><div id="a24463" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:italic;color:#000000;left:4px;top:92px;">Stock Options Granted to Employees that Contain Performance and Market Conditions</div><div id="a24466" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">Included in<div style="display:inline-block;width:5px"> </div>the stock<div style="display:inline-block;width:5px"> </div>options granted<div style="display:inline-block;width:5px"> </div>during the<div style="display:inline-block;width:5px"> </div>year ended<div style="display:inline-block;width:5px"> </div>December 31,<div style="display:inline-block;width:5px"> </div>2021 were<div style="display:inline-block;width:5px"> </div>stock options<div style="display:inline-block;width:5px"> </div>to purchase </div><div id="a24466_109_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:618px;top:123px;">6,799,625</div><div id="a24466_118_11" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:671px;top:123px;"><div style="display:inline-block;width:4px"> </div>shares of </div><div id="a24469" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">Class A<div style="display:inline-block;width:5px"> </div>common stock that<div style="display:inline-block;width:5px"> </div>contain performance- and<div style="display:inline-block;width:5px"> </div>market-based vesting conditions<div style="display:inline-block;width:5px"> </div>granted to<div style="display:inline-block;width:5px"> </div>the Mei Mei<div style="display:inline-block;width:5px"> </div>Hu, Louis Reese,<div style="display:inline-block;width:5px"> </div>and </div><div id="a24476" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">Peter Diamandis. </div><div id="a24479" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">In August 2021, the stock option awards for the Mei Mei Hu and Louis Reese totaling </div><div id="a24479_84_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:466px;top:184px;">5,983,670</div><div id="a24479_93_39" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:519px;top:184px;"><div style="display:inline-block;width:3px"> </div>shares were cancelled in exchange for </div><div id="a24481" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">an equal number of options to purchase shares<div style="display:inline-block;width:5px"> </div>of Class B common stock. The Company accounted for<div style="display:inline-block;width:5px"> </div>this exchange as a stock option </div><div id="a24485" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">modification. The fair value of the<div style="display:inline-block;width:5px"> </div>awards granted to Mei Mei Hu<div style="display:inline-block;width:5px"> </div>and Louis Reese at the modification date<div style="display:inline-block;width:5px"> </div>was $</div><div id="a24485_111_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:616px;top:215px;">23.8</div><div id="a24485_115_17" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:215px;"><div style="display:inline-block;width:4px"> </div>million, valued </div><div id="a24488" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">using the Monte-Carlo simulation model. The assumptions used in the Monte-Carlo simulation model were as follows:</div></div><div id="TextBlockContainer1724" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24519" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">The stock option awards for Peter Diamandis totaling </div><div id="a24519_53_7" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:294px;top:0px;">815,955</div><div id="a24519_60_40" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:337px;top:0px;"><div style="display:inline-block;width:3px"> </div>shares had a grant date fair value of $</div><div id="a24519_100_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:0px;">0.3</div><div id="a24519_103_31" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:558px;top:0px;"><div style="display:inline-block;width:3px"> </div>million. The assumptions used </div><div id="a24522" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">in the Monte-Carlo simulation model were as follows:</div></div><div id="TextBlockContainer1726" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:185px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24550" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">The compensation<div style="display:inline-block;width:5px"> </div>expense for<div style="display:inline-block;width:5px"> </div>these awards<div style="display:inline-block;width:5px"> </div>is recognized<div style="display:inline-block;width:5px"> </div>when the<div style="display:inline-block;width:5px"> </div>vesting condition<div style="display:inline-block;width:5px"> </div>is met<div style="display:inline-block;width:5px"> </div>for the<div style="display:inline-block;width:5px"> </div>performance-based criteria,<div style="display:inline-block;width:5px"> </div>and </div><div id="a24553" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">over the derived service period for the market-based criteria. </div><div id="a24558" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">The<div style="display:inline-block;width:5px"> </div>condition<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>performance-based<div style="display:inline-block;width:5px"> </div>criteria<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>stock<div style="display:inline-block;width:5px"> </div>options<div style="display:inline-block;width:5px"> </div>was<div style="display:inline-block;width:5px"> </div>based<div style="display:inline-block;width:5px"> </div>on<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company's<div style="display:inline-block;width:5px"> </div>completion<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>its<div style="display:inline-block;width:5px"> </div>IPO,<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>the </div><div id="a24562" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">condition for the market-based criteria in the stock options was based on the future price of the Company's common stock trading at or </div><div id="a24565" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">above a<div style="display:inline-block;width:2px"> </div>specified threshold.<div style="display:inline-block;width:2px"> </div>During the<div style="display:inline-block;width:2px"> </div>year ended<div style="display:inline-block;width:2px"> </div>December 31,<div style="display:inline-block;width:2px"> </div>2021, stock<div style="display:inline-block;width:2px"> </div>options for<div style="display:inline-block;width:2px"> </div>an aggregate<div style="display:inline-block;width:2px"> </div>of </div><div id="a24565_104_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:556px;top:77px;">5,439,700</div><div id="a24565_113_14" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:77px;"><div style="display:inline-block;width:3px"> </div>of the<div style="display:inline-block;width:2px"> </div>total </div><div id="a24565_127_9" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:671px;top:77px;">6,799,625</div><div id="a24567" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">shares containing performance-<div style="display:inline-block;width:5px"> </div>and market-based vesting<div style="display:inline-block;width:5px"> </div>conditions were vested<div style="display:inline-block;width:5px"> </div>following the satisfaction<div style="display:inline-block;width:5px"> </div>of the performance-based </div><div id="a24575" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">condition achieved through the Company’s<div style="display:inline-block;width:5px"> </div>completion of its IPO. As<div style="display:inline-block;width:5px"> </div>of December 31, 2021, the market-based<div style="display:inline-block;width:5px"> </div>vesting conditions had </div><div id="a24579" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">not been achieved. </div><div id="a24582" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:153px;">Restricted Stock </div></div><div id="TextBlockContainer1728" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:610px;height:16px;display:inline-block;"><div id="a24595" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">The following table summarizes the Company’s restricted stock activity for the year ended December 31, 2021:</div></div><div id="TextBlockContainer1734" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:139px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24643" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">The aggregate fair value of restricted stock that vested was less than $</div><div id="a24643_72_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:378px;top:0px;">0.1</div><div id="a24643_75_57" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:394px;top:0px;"><div style="display:inline-block;width:3px"> </div>million for the years ended December 31, 2021 and 2020. </div><div id="a24650" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">Stock-based compensation expense<div style="display:inline-block;width:5px"> </div>recognized on vested<div style="display:inline-block;width:5px"> </div>restricted stock was<div style="display:inline-block;width:5px"> </div>immaterial for the<div style="display:inline-block;width:5px"> </div>years ended December<div style="display:inline-block;width:5px"> </div>31, 2021 and </div><div id="a24654" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">2020. </div><div id="a24657" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:77px;">Stock-Based Compensation Expense </div><div id="a24667" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">The<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>recorded<div style="display:inline-block;width:5px"> </div>stock-based<div style="display:inline-block;width:5px"> </div>compensation<div style="display:inline-block;width:5px"> </div>expense<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>following<div style="display:inline-block;width:5px"> </div>expense<div style="display:inline-block;width:5px"> </div>categories<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>accompanying<div style="display:inline-block;width:5px"> </div>consolidated </div><div id="a24670" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">statements of operations (in thousands):</div></div><div id="TextBlockContainer1740" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:32px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24716" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">As of December 31, 2021, total<div style="display:inline-block;width:5px"> </div>unrecognized compensation cost related to the<div style="display:inline-block;width:5px"> </div>unvested stock-based awards was $</div><div id="a24716_110_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:0px;">26.8</div><div id="a24716_114_16" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:643px;top:0px;"><div style="display:inline-block;width:4px"> </div>million, which </div><div id="a24722" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">is expected to be recognized over a weighted average period of </div><div id="a24722_63_3" style="position:absolute;font-family:'Times New Roman';left:344px;top:15px;">3.3</div><div id="a24722_66_7" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:361px;top:15px;"><div style="display:inline-block;width:3px"> </div>years.</div></div>
<div id="TextBlockContainer1719" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24381" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:576px;top:0px;">December 31, </div><div id="a24386" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:544px;top:17px;">2021 </div><div id="a24389" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:659px;top:17px;">2020 </div><div id="a24391" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Risk-free interest rate </div><div id="a24395" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:517px;top:35px;">0.59% - 1.35% </div><div id="a24401" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:632px;top:35px;">0.34% - 0.38% </div><div id="a24406" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Expected term (in years) </div><div id="a24408" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:528px;top:52px;">5.00 - 6.30 </div><div id="a24414" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:643px;top:52px;">5.60 - 6.08 </div><div id="a24419" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Expected volatility </div><div id="a24421" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:510px;top:69px;">71.60% - 93.40% </div><div id="a24427" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:625px;top:69px;">70.90% - 86.84% </div><div id="a24432" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Expected dividend yield </div><div id="a24434" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:540px;top:86px;">0.00% </div><div id="a24437" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:655px;top:86px;">0.00%</div></div>
6799625
5983670
23800000
P4Y6M
10.07
815955
300000
P1Y
4.12
5439700
6799625
<div id="TextBlockContainer1732" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:727px;height:130px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1730_XBRL_TS_0500d4f2aba944818b744d1a7f40d5f1" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1731" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:727px;height:130px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24606" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:550px;top:46px;">Number of </div><div id="a24607" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:562px;top:61px;">Shares </div><div id="a24610" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:650px;top:0px;">Weighted </div><div id="a24611" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:654px;top:15px;">Average </div><div id="a24612" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:645px;top:31px;">Grant Date </div><div id="a24613" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:647px;top:46px;">Fair Value </div><div id="a24614" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:649px;top:61px;">Per Share </div><div id="a24616" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:79px;">Unvested at December 31, 2020 </div><div id="a24618" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:581px;top:79px;">15,405</div><div id="a24621" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:637px;top:79px;">$ </div><div id="a24623" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:79px;">0.50</div><div id="a24625" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:96px;">Vested </div><div id="a24627" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:576px;top:96px;display:flex;">(15,405)</div><div id="a24631" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:96px;display:flex;">(0.50)</div><div id="a24633" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:115px;">Unvested at December 31, 2021 </div><div id="a24635" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:115px;">— </div><div id="a24638" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:637px;top:115px;">$ </div><div id="a24640" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:115px;">—</div></div></div></div>
15405
0.50
15405
0.50
100000
100000
<div id="TextBlockContainer1738" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1736_XBRL_TS_32d6bb741aee4c3193cc4fb8835e605c" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1737" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24674" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:555px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a24677" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:17px;">2021 </div><div id="a24680" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:17px;">2020 </div><div id="a24682" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Research and development </div><div id="a24684" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:35px;">$ </div><div id="a24686" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:35px;">1,343</div><div id="a24689" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:35px;">$ </div><div id="a24691" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:35px;">243</div><div id="a24693" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">General and administrative </div><div id="a24696" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:52px;">29,069</div><div id="a24700" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:52px;">771</div><div id="a24702" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:70px;">Total stock-based compensation expense </div><div id="a24706" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:70px;">$ </div><div id="a24708" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:70px;">30,412</div><div id="a24711" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:70px;">$ </div><div id="a24713" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:70px;">1,014</div></div></div></div>
1343000
243000
29069000
771000
30412000
1014000
26800000
P3Y3M18D
<div id="TextBlockContainer1742" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24727" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">14. Income Taxes </div><div id="a24733" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The sources of<div style="display:inline-block;width:2px"> </div>losses from continuing<div style="display:inline-block;width:2px"> </div>operations, before income<div style="display:inline-block;width:2px"> </div>taxes, classified between<div style="display:inline-block;width:2px"> </div>domestic entities and those<div style="display:inline-block;width:2px"> </div>entities domiciled </div><div id="a24738" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">outside of the U.S., are as follows (in thousands):</div></div><div id="TextBlockContainer1745" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:729px;height:89px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24742" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:555px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a24744" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:19px;">Losses before taxes </div><div id="a24746" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:19px;">2021 </div><div id="a24749" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:19px;">2020 </div><div id="a24751" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:37px;">Domestic entities </div><div id="a24753" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:37px;">$ </div><div id="a24755" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:575px;top:37px;display:flex;">(128,538)</div><div id="a24758" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:37px;">$ </div><div id="a24760" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:37px;display:flex;">(31,053)</div><div id="a24762" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:54px;">Entities outside the U.S. </div><div id="a24765" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:54px;display:flex;">(8,636)</div><div id="a24769" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:54px;display:flex;">(8,904)</div><div id="a24773" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:575px;top:73px;display:flex;">(137,175)</div><div id="a24776" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:73px;">$ </div><div id="a24778" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:73px;display:flex;">(39,957)</div></div><div id="TextBlockContainer1751" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:729px;height:222px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24798" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:545px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a24801" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:554px;top:17px;">2021 </div><div id="a24804" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:665px;top:17px;">2020 </div><div id="a24806" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Current: </div><div id="a24813" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Federal </div><div id="a24815" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:521px;top:52px;">$ </div><div id="a24817" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:52px;">— </div><div id="a24820" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:633px;top:52px;">$ </div><div id="a24822" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:52px;">— </div><div id="a24824" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">State and local </div><div id="a24827" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:69px;">— </div><div id="a24831" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:69px;">— </div><div id="a24833" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Foreign </div><div id="a24836" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:86px;">— </div><div id="a24840" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:86px;">— </div><div id="a24842" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Total current tax expense </div><div id="a24845" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:103px;">— </div><div id="a24849" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:103px;">— </div><div id="a24857" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:137px;">Deferred tax (benefit): </div><div id="a24864" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:154px;">Federal </div><div id="a24867" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:154px;">— </div><div id="a24871" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:154px;">— </div><div id="a24873" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:171px;">State and local </div><div id="a24876" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:171px;">— </div><div id="a24880" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:171px;">— </div><div id="a24882" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:188px;">Foreign </div><div id="a24885" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:188px;">— </div><div id="a24889" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:188px;">— </div><div id="a24891" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:206px;">Total deferred tax (benefit) </div><div id="a24894" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:206px;">— </div><div id="a24898" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:206px;">—</div></div><div id="TextBlockContainer1757" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:170px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24921" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:543px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a24924" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:550px;top:17px;">2021 </div><div id="a24927" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:665px;top:17px;">2020 </div><div id="a24929" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Income taxes at statutory rate </div><div id="a24931" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:559px;top:35px;">21.00</div><div id="a24933" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:35px;">% </div><div id="a24936" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:35px;">21.00</div><div id="a24938" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:35px;">% </div><div id="a24940" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">State income taxes, net of federal benefit </div><div id="a24942" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:565px;top:52px;">0.50</div><div id="a24944" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:52px;">% </div><div id="a24947" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:52px;">0.29</div><div id="a24949" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:52px;">% </div><div id="a24951" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Stock compensation </div><div id="a24953" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:561px;top:69px;">(3.65)</div><div id="a24955" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:69px;">% </div><div id="a24958" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:681px;top:69px;"><div style="display:inline-block;width:3px"> </div>0.00 </div><div id="a24961" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:69px;">% </div><div id="a24963" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Foreign rate differential </div><div id="a24966" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:561px;top:86px;display:flex;">(0.74)</div><div id="a24968" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:86px;">% </div><div id="a24971" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:676px;top:86px;display:flex;">(4.06)</div><div id="a24973" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:86px;">% </div><div id="a24975" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Uncertain tax positions </div><div id="a24977_1_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:569px;top:103px;">0.00</div><div id="a24980" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:103px;">% </div><div id="a24983_1_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:103px;">0.00</div><div id="a24986" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:103px;">% </div><div id="a24988" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:120px;">Other </div><div id="a24990" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:561px;top:120px;display:flex;">(1.90)</div><div id="a24992" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:120px;">% </div><div id="a24995" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:676px;top:120px;display:flex;">(0.36)</div><div id="a24997" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:120px;">% </div><div id="a24999" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:137px;">Change in valuation allowance </div><div id="a25001" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:554px;top:137px;display:flex;">(15.21)</div><div id="a25003" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:137px;">% </div><div id="a25006" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:669px;top:137px;display:flex;">(16.87)</div><div id="a25008" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:137px;">% </div><div id="a25010" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:154px;">Provision for income taxes </div><div id="a25012" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:569px;top:154px;">0.00</div><div id="a25014" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:154px;">% </div><div id="a25017" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:154px;">0.00</div><div id="a25019" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:154px;">%</div></div><div id="TextBlockContainer1763" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:240px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25069" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:575px;top:0px;">As of December 31, </div><div id="a25072" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:568px;top:17px;">2021 </div><div id="a25075" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:665px;top:17px;">2020 </div><div id="a25077" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Deferred tax assets: </div><div id="a25084" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Net operating loss carryforwards </div><div id="a25086" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:52px;">$ </div><div id="a25088" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:582px;top:52px;">32,405</div><div id="a25091" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:52px;">$ </div><div id="a25093" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:52px;">12,373</div><div id="a25095" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Compensation accruals </div><div id="a25098" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:588px;top:69px;">1,735</div><div id="a25102" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:69px;">377</div><div id="a25104" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Other </div><div id="a25107" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:86px;">27</div><div id="a25111" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:86px;">627</div><div id="a25113" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Total deferred tax assets </div><div id="a25116" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:582px;top:103px;">34,167</div><div id="a25120" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:103px;">13,377</div><div id="a25122" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:120px;">Less: valuation allowance </div><div id="a25125" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:577px;top:120px;display:flex;">(34,106)</div><div id="a25129" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:120px;display:flex;">(13,247)</div><div id="a25131" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">Net deferred tax assets </div><div id="a25133" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:138px;">$ </div><div id="a25135" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:138px;">61</div><div id="a25138" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:138px;">$ </div><div id="a25140" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:138px;">130</div><div id="a25148" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:172px;">Deferred tax liabilities: </div><div id="a25155" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:189px;">Depreciation </div><div id="a25157" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:189px;">$ </div><div id="a25159" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:600px;top:189px;display:flex;">(61)</div><div id="a25162" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:189px;">$ </div><div id="a25164" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:189px;display:flex;">(130)</div><div id="a25166" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:207px;">Net deferred tax liabilities </div><div id="a25169" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:600px;top:207px;display:flex;">(61)</div><div id="a25173" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:207px;display:flex;">(130)</div><div id="a25175" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:224px;">Net deferred income taxes </div><div id="a25177" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:224px;">$ </div><div id="a25179" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:224px;">— </div><div id="a25182" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:224px;">$ </div><div id="a25184" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:224px;">—</div></div><div id="TextBlockContainer1769" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:729px;height:86px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25255" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:548px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a25258" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:556px;top:17px;">2021 </div><div id="a25261" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:669px;top:17px;">2020 </div><div id="a25263" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Uncertain tax position liability at the beginning of the year </div><div id="a25265" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:526px;top:35px;">$ </div><div id="a25267" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:35px;">652</div><div id="a25270" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:35px;">$ </div><div id="a25272" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:35px;">646</div><div id="a25274" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:52px;">Increases (decreases) related to tax positions taken during current period </div><div id="a25277" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:52px;">—</div><div id="a25281" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:714px;top:52px;">6</div><div id="a25283" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:70px;">Uncertain tax position liability at the end of the year </div><div id="a25286" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:526px;top:70px;">$ </div><div id="a25288" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:70px;">652</div><div id="a25291" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:70px;">$ </div><div id="a25293" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:70px;">652</div></div><div id="TextBlockContainer1748" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:708px;height:46px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24781" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Tax Expense (Benefit) </div><div id="a24785" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The components of the provision for income taxes are as follows for the years ended December 31, 2021 and 2020 (in thousands):</div></div><div id="TextBlockContainer1754" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:92px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24901" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Tax Rate Reconciliation </div><div id="a24904" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company’s effective tax rate for the years ended December 31, 2021 and 2020 was </div><div id="a24904_84_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:476px;top:31px;">0.00</div><div id="a24904_88_6" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:499px;top:31px;">% and </div><div id="a24904_94_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:537px;top:31px;">0.00</div><div id="a24904_98_17" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:560px;top:31px;">%, respectively. </div><div id="a24914" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">A reconciliation<div style="display:inline-block;width:2px"> </div>of the<div style="display:inline-block;width:2px"> </div>provision for<div style="display:inline-block;width:2px"> </div>income taxes<div style="display:inline-block;width:2px"> </div>at the<div style="display:inline-block;width:2px"> </div>statutory rate<div style="display:inline-block;width:2px"> </div>to the<div style="display:inline-block;width:2px"> </div>amount reflected<div style="display:inline-block;width:2px"> </div>in the<div style="display:inline-block;width:2px"> </div>consolidated statements<div style="display:inline-block;width:2px"> </div>of operations </div><div id="a24917" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">is as follows (in thousands):</div></div><div id="TextBlockContainer1760" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:215px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25022" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Deferred Tax Assets (Liabilities)</div><div id="a25023" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:183px;top:0px;"><div style="display:inline-block;width:3px"> </div></div><div id="a25026" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company computes income taxes using<div style="display:inline-block;width:2px"> </div>the liability method. This method requires<div style="display:inline-block;width:2px"> </div>recognition of deferred tax assets and<div style="display:inline-block;width:2px"> </div>liabilities, </div><div id="a25028" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">measured by enacted rates, attributable<div style="display:inline-block;width:2px"> </div>to temporary differences between the<div style="display:inline-block;width:2px"> </div>financial statements and the income<div style="display:inline-block;width:2px"> </div>tax basis of assets and </div><div id="a25030" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">liabilities. In<div style="display:inline-block;width:5px"> </div>assessing the<div style="display:inline-block;width:5px"> </div>realizability of<div style="display:inline-block;width:5px"> </div>deferred tax<div style="display:inline-block;width:5px"> </div>assets, the<div style="display:inline-block;width:5px"> </div>Company considers<div style="display:inline-block;width:5px"> </div>whether it<div style="display:inline-block;width:5px"> </div>is more<div style="display:inline-block;width:5px"> </div>likely than<div style="display:inline-block;width:5px"> </div>not that<div style="display:inline-block;width:6px"> </div>certain </div><div id="a25032" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">deferred tax<div style="display:inline-block;width:5px"> </div>assets will be<div style="display:inline-block;width:5px"> </div>realized. The<div style="display:inline-block;width:5px"> </div>ultimate realization of<div style="display:inline-block;width:5px"> </div>deferred tax<div style="display:inline-block;width:5px"> </div>assets is dependent<div style="display:inline-block;width:5px"> </div>upon the<div style="display:inline-block;width:5px"> </div>generation of future<div style="display:inline-block;width:5px"> </div>taxable </div><div id="a25034" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">income<div style="display:inline-block;width:5px"> </div>in those<div style="display:inline-block;width:6px"> </div>specific jurisdictions<div style="display:inline-block;width:6px"> </div>prior to<div style="display:inline-block;width:6px"> </div>the dates<div style="display:inline-block;width:6px"> </div>on<div style="display:inline-block;width:5px"> </div>which such<div style="display:inline-block;width:6px"> </div>net operating<div style="display:inline-block;width:6px"> </div>losses expire.<div style="display:inline-block;width:6px"> </div>The Company<div style="display:inline-block;width:6px"> </div>maintained a<div style="display:inline-block;width:6px"> </div>full </div><div id="a25037" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">valuation allowance against its net deferred tax assets for December 31, 2021<div style="display:inline-block;width:5px"> </div>and 2020 because the Company has determined that it is </div><div id="a25041" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">more likely than not that these assets will not be fully realized based on a current evaluation of expected future<div style="display:inline-block;width:5px"> </div>taxable income and the </div><div id="a25043" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">Company is in a cumulative loss<div style="display:inline-block;width:2px"> </div>position. The valuation allowance increased by<div style="display:inline-block;width:2px"> </div>$</div><div id="a25043_80_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:440px;top:138px;">6.7</div><div id="a25043_83_49" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:457px;top:138px;"><div style="display:inline-block;width:3px"> </div>million during the year ended<div style="display:inline-block;width:2px"> </div>December 31, 2020 </div><div id="a25047" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">and $</div><div id="a25047_5_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:34px;top:153px;">20.9</div><div id="a25047_9_126" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:57px;top:153px;"><div style="display:inline-block;width:4px"> </div>million during the year ended December 31, 2021, primarily as a result of net<div style="display:inline-block;width:5px"> </div>operating losses generated during the periods. </div><div id="a25053" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">The Company reevaluates the positive and negative evidence at each reporting period. </div><div id="a25057" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):</div></div><div id="TextBlockContainer1766" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:475px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25193" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Net Operating Losses </div><div id="a25196" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company had total net<div style="display:inline-block;width:5px"> </div>operating loss carryforwards for U.S.<div style="display:inline-block;width:5px"> </div>federal income tax purposes of<div style="display:inline-block;width:5px"> </div>$</div><div id="a25196_96_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:535px;top:31px;">134.6</div><div id="a25196_101_15" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:565px;top:31px;"><div style="display:inline-block;width:4px"> </div>million, and $</div><div id="a25196_116_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:644px;top:31px;">44.5</div><div id="a25196_120_12" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:667px;top:31px;"><div style="display:inline-block;width:4px"> </div>million as </div><div id="a25199" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">of December 31, 2021 and 2020, respectively, that have no expiration date. The Company has foreign net operating loss carryforwards </div><div id="a25201" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">of $</div><div id="a25201_4_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:26px;top:61px;">24.0</div><div id="a25201_8_14" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:61px;"><div style="display:inline-block;width:3px"> </div>million and $</div><div id="a25201_22_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:123px;top:61px;">20.2</div><div id="a25201_26_54" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:147px;top:61px;"><div style="display:inline-block;width:3px"> </div>million, respectively, that have no expiration date. </div><div id="a25204" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">Utilization<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>NOL<div style="display:inline-block;width:6px"> </div>carryforwards<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:6px"> </div>credits<div style="display:inline-block;width:6px"> </div>may<div style="display:inline-block;width:5px"> </div>be<div style="display:inline-block;width:6px"> </div>subject<div style="display:inline-block;width:6px"> </div>to<div style="display:inline-block;width:6px"> </div>a<div style="display:inline-block;width:6px"> </div>substantial<div style="display:inline-block;width:5px"> </div>annual<div style="display:inline-block;width:6px"> </div>limitation<div style="display:inline-block;width:5px"> </div>due<div style="display:inline-block;width:6px"> </div>to<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>ownership<div style="display:inline-block;width:5px"> </div>change </div><div id="a25206" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">limitations provided by<div style="display:inline-block;width:5px"> </div>the Internal Revenue<div style="display:inline-block;width:5px"> </div>Code Sections 382<div style="display:inline-block;width:5px"> </div>and 383 (the<div style="display:inline-block;width:5px"> </div>“Code”), as amended,<div style="display:inline-block;width:5px"> </div>and similar state<div style="display:inline-block;width:5px"> </div>provisions. The </div><div id="a25208" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">Company has not<div style="display:inline-block;width:2px"> </div>completed a study<div style="display:inline-block;width:2px"> </div>to assess whether<div style="display:inline-block;width:2px"> </div>an ownership<div style="display:inline-block;width:2px"> </div>change has occurred<div style="display:inline-block;width:1px"> </div>or whether there<div style="display:inline-block;width:2px"> </div>have been multiple<div style="display:inline-block;width:1px"> </div>ownership </div><div id="a25210" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">changes since<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:6px"> </div>formation due<div style="display:inline-block;width:5px"> </div>to the<div style="display:inline-block;width:5px"> </div>complexity and<div style="display:inline-block;width:5px"> </div>cost associated<div style="display:inline-block;width:5px"> </div>with such<div style="display:inline-block;width:5px"> </div>a study,<div style="display:inline-block;width:6px"> </div>and the<div style="display:inline-block;width:5px"> </div>fact that<div style="display:inline-block;width:5px"> </div>there may<div style="display:inline-block;width:5px"> </div>be </div><div id="a25212" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">additional ownership changes<div style="display:inline-block;width:2px"> </div>in the future. If<div style="display:inline-block;width:2px"> </div>the Company experienced<div style="display:inline-block;width:2px"> </div>an ownership change at<div style="display:inline-block;width:2px"> </div>any time since its<div style="display:inline-block;width:2px"> </div>formation, utilization </div><div id="a25214" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">of the<div style="display:inline-block;width:5px"> </div>NOL or<div style="display:inline-block;width:5px"> </div>tax credit<div style="display:inline-block;width:5px"> </div>carryforwards to<div style="display:inline-block;width:5px"> </div>offset future<div style="display:inline-block;width:5px"> </div>taxable income<div style="display:inline-block;width:5px"> </div>and taxes,<div style="display:inline-block;width:5px"> </div>respectively,<div style="display:inline-block;width:5px"> </div>would be<div style="display:inline-block;width:5px"> </div>subject to<div style="display:inline-block;width:5px"> </div>annual limitation </div><div id="a25216" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">under the Code. The annual limitation may result in the expiration of the<div style="display:inline-block;width:5px"> </div>NOL and credits before utilization. If impaired, the NOL and </div><div id="a25218" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">credit carryforwards would be removed from<div style="display:inline-block;width:2px"> </div>the deferred tax asset schedule with<div style="display:inline-block;width:2px"> </div>a corresponding reduction in the valuation<div style="display:inline-block;width:2px"> </div>allowance. </div><div id="a25223" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">On March 27, 2020, the President of the United States signed into law the CARES Act, which, along with earlier issued IRS guidance, </div><div id="a25225" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">contains numerous provisions that may benefit the Company,<div style="display:inline-block;width:5px"> </div>including the deferral of certain taxes. There is no material impact to the </div><div id="a25228" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">Company. The CARES Act did not have a material impact on the Company’s tax provision for the year ended December 31, 2021. </div><div id="a25231" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">The Consolidated Appropriations Act, 2021, which was enacted on December 27, 2020, has expanded, extended, and clarified selected </div><div id="a25233" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:307px;">CARES Act provisions, specifically on Paycheck Protection Program loan<div style="display:inline-block;width:5px"> </div>and Employee Retention Tax<div style="display:inline-block;width:5px"> </div>Credit, 100% deductibility of </div><div id="a25235" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:322px;">business meals as well as<div style="display:inline-block;width:5px"> </div>other tax extenders. The Consolidated Appropriations Act<div style="display:inline-block;width:5px"> </div>did not have a material<div style="display:inline-block;width:5px"> </div>impact on the Company’s </div><div id="a25237" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:337px;">tax provision for the year ended December 31, 2021. </div><div id="a25240" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:368px;">The Company<div style="display:inline-block;width:5px"> </div>is subject<div style="display:inline-block;width:5px"> </div>to tax<div style="display:inline-block;width:5px"> </div>in the<div style="display:inline-block;width:5px"> </div>United States<div style="display:inline-block;width:5px"> </div>and many<div style="display:inline-block;width:5px"> </div>state and<div style="display:inline-block;width:5px"> </div>local jurisdictions. The<div style="display:inline-block;width:5px"> </div>Company,<div style="display:inline-block;width:5px"> </div>with certain<div style="display:inline-block;width:5px"> </div>exceptions, is </div><div id="a25242" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:383px;">subject to income tax examinations by U.S. federal, state and local for tax years 2017 and future periods. The company is not currently </div><div id="a25244" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:399px;">under audit for any US federal or state or foreign income tax audits. </div><div id="a25247" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:429px;">Uncertain Tax Positions </div><div id="a25250" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:460px;">A summary of the Company’s unrecognized tax benefits activity and related information is presented as follows (in thousands):</div></div><div id="TextBlockContainer1772" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25296" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">The unrecognized tax benefits<div style="display:inline-block;width:2px"> </div>for U.S. jurisdiction of<div style="display:inline-block;width:2px"> </div>$</div><div id="a25296_56_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:297px;top:0px;">0.6</div><div id="a25296_59_77" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:314px;top:0px;"><div style="display:inline-block;width:3px"> </div>million, if recognized, would<div style="display:inline-block;width:2px"> </div>not have an impact<div style="display:inline-block;width:2px"> </div>on the Company’s effective </div><div id="a25299" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">tax<div style="display:inline-block;width:5px"> </div>rate<div style="display:inline-block;width:5px"> </div>assuming<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>continues<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>maintain<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>full<div style="display:inline-block;width:5px"> </div>valuation<div style="display:inline-block;width:5px"> </div>allowance<div style="display:inline-block;width:5px"> </div>position<div style="display:inline-block;width:5px"> </div>against<div style="display:inline-block;width:5px"> </div>its<div style="display:inline-block;width:5px"> </div>U.S.<div style="display:inline-block;width:5px"> </div>deferred<div style="display:inline-block;width:5px"> </div>tax<div style="display:inline-block;width:5px"> </div>assets.<div style="display:inline-block;width:5px"> </div>The </div><div id="a25302" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">remaining unrecognized tax benefits<div style="display:inline-block;width:2px"> </div>of less than $</div><div id="a25302_50_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:271px;top:31px;">0.1</div><div id="a25302_53_84" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:287px;top:31px;"><div style="display:inline-block;width:3px"> </div>million, if recognized, will<div style="display:inline-block;width:2px"> </div>have an impact on<div style="display:inline-block;width:2px"> </div>the effective tax rate. The<div style="display:inline-block;width:2px"> </div>Company </div></div><div id="TextBlockContainer1774" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25315" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">recognizes accrued interest<div style="display:inline-block;width:2px"> </div>and penalties related<div style="display:inline-block;width:2px"> </div>to unrecognized tax<div style="display:inline-block;width:2px"> </div>benefits in income<div style="display:inline-block;width:2px"> </div>tax expense. We accrued $</div><div id="a25315_114_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:611px;top:0px;">0.2</div><div id="a25315_117_21" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:628px;top:0px;"><div style="display:inline-block;width:3px"> </div>million in interest </div><div id="a25318" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">and penalties related to prior year’s tax filings, as of December 31, 2021.<div style="display:inline-block;width:3px"> </div></div><div id="a25323" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">The Company<div style="display:inline-block;width:6px"> </div>is subject<div style="display:inline-block;width:6px"> </div>to U.S.<div style="display:inline-block;width:6px"> </div>federal income<div style="display:inline-block;width:6px"> </div>tax as<div style="display:inline-block;width:6px"> </div>well as<div style="display:inline-block;width:6px"> </div>income<div style="display:inline-block;width:5px"> </div>tax of<div style="display:inline-block;width:6px"> </div>various foreign<div style="display:inline-block;width:6px"> </div>jurisdictions. Generally,<div style="display:inline-block;width:7px"> </div>the statute<div style="display:inline-block;width:6px"> </div>of </div><div id="a25325" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">limitations for examination<div style="display:inline-block;width:5px"> </div>of the Company’s<div style="display:inline-block;width:6px"> </div>U.S. federal and<div style="display:inline-block;width:5px"> </div>foreign income tax<div style="display:inline-block;width:5px"> </div>filings are open<div style="display:inline-block;width:5px"> </div>for the years<div style="display:inline-block;width:5px"> </div>ended December 31, </div><div id="a25328" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">2017 and future periods.</div></div>
<div id="TextBlockContainer1746" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:729px;height:89px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1744_XBRL_TS_0b5dac64ba1940529363485c421f7c1b" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1745" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:729px;height:89px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24742" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:555px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a24744" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:19px;">Losses before taxes </div><div id="a24746" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:19px;">2021 </div><div id="a24749" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:19px;">2020 </div><div id="a24751" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:37px;">Domestic entities </div><div id="a24753" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:37px;">$ </div><div id="a24755" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:575px;top:37px;display:flex;">(128,538)</div><div id="a24758" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:37px;">$ </div><div id="a24760" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:37px;display:flex;">(31,053)</div><div id="a24762" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:54px;">Entities outside the U.S. </div><div id="a24765" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:54px;display:flex;">(8,636)</div><div id="a24769" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:54px;display:flex;">(8,904)</div><div id="a24773" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:575px;top:73px;display:flex;">(137,175)</div><div id="a24776" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:73px;">$ </div><div id="a24778" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:73px;display:flex;">(39,957)</div></div></div></div>
-128538000
-31053000
-8636000
-8904000
-137175000
-39957000
<div id="TextBlockContainer1752" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:729px;height:222px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1750_XBRL_TS_3b8032f45d8c40b6a4e3694c6bc88b30" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1751" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:729px;height:222px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24798" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:545px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a24801" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:554px;top:17px;">2021 </div><div id="a24804" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:665px;top:17px;">2020 </div><div id="a24806" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Current: </div><div id="a24813" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Federal </div><div id="a24815" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:521px;top:52px;">$ </div><div id="a24817" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:52px;">— </div><div id="a24820" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:633px;top:52px;">$ </div><div id="a24822" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:52px;">— </div><div id="a24824" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">State and local </div><div id="a24827" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:69px;">— </div><div id="a24831" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:69px;">— </div><div id="a24833" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Foreign </div><div id="a24836" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:86px;">— </div><div id="a24840" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:86px;">— </div><div id="a24842" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Total current tax expense </div><div id="a24845" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:103px;">— </div><div id="a24849" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:103px;">— </div><div id="a24857" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:137px;">Deferred tax (benefit): </div><div id="a24864" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:154px;">Federal </div><div id="a24867" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:154px;">— </div><div id="a24871" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:154px;">— </div><div id="a24873" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:171px;">State and local </div><div id="a24876" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:171px;">— </div><div id="a24880" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:171px;">— </div><div id="a24882" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:188px;">Foreign </div><div id="a24885" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:188px;">— </div><div id="a24889" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:188px;">— </div><div id="a24891" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:206px;">Total deferred tax (benefit) </div><div id="a24894" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:596px;top:206px;">— </div><div id="a24898" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:206px;">—</div></div></div></div>
0.0000
0.0000
<div id="TextBlockContainer1758" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:170px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1756_XBRL_TS_21e486bc5f5c490899488f008dcbaa52" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1757" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:170px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24921" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:543px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a24924" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:550px;top:17px;">2021 </div><div id="a24927" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:665px;top:17px;">2020 </div><div id="a24929" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Income taxes at statutory rate </div><div id="a24931" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:559px;top:35px;">21.00</div><div id="a24933" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:35px;">% </div><div id="a24936" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:35px;">21.00</div><div id="a24938" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:35px;">% </div><div id="a24940" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">State income taxes, net of federal benefit </div><div id="a24942" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:565px;top:52px;">0.50</div><div id="a24944" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:52px;">% </div><div id="a24947" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:680px;top:52px;">0.29</div><div id="a24949" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:52px;">% </div><div id="a24951" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Stock compensation </div><div id="a24953" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:561px;top:69px;">(3.65)</div><div id="a24955" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:69px;">% </div><div id="a24958" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:681px;top:69px;"><div style="display:inline-block;width:3px"> </div>0.00 </div><div id="a24961" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:69px;">% </div><div id="a24963" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Foreign rate differential </div><div id="a24966" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:561px;top:86px;display:flex;">(0.74)</div><div id="a24968" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:86px;">% </div><div id="a24971" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:676px;top:86px;display:flex;">(4.06)</div><div id="a24973" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:86px;">% </div><div id="a24975" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Uncertain tax positions </div><div id="a24977_1_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:569px;top:103px;">0.00</div><div id="a24980" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:103px;">% </div><div id="a24983_1_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:103px;">0.00</div><div id="a24986" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:103px;">% </div><div id="a24988" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:120px;">Other </div><div id="a24990" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:561px;top:120px;display:flex;">(1.90)</div><div id="a24992" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:120px;">% </div><div id="a24995" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:676px;top:120px;display:flex;">(0.36)</div><div id="a24997" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:120px;">% </div><div id="a24999" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:137px;">Change in valuation allowance </div><div id="a25001" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:554px;top:137px;display:flex;">(15.21)</div><div id="a25003" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:137px;">% </div><div id="a25006" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:669px;top:137px;display:flex;">(16.87)</div><div id="a25008" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:137px;">% </div><div id="a25010" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:154px;">Provision for income taxes </div><div id="a25012" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:569px;top:154px;">0.00</div><div id="a25014" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:154px;">% </div><div id="a25017" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:154px;">0.00</div><div id="a25019" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:154px;">%</div></div></div></div>
0.2100
0.2100
0.0050
0.0029
-0.0074
-0.0406
0.0000
0.0000
-0.0190
-0.0036
-0.1521
-0.1687
0.0000
0.0000
6700000
20900000
<div id="TextBlockContainer1764" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:240px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1762_XBRL_TS_8e0b2e4e0d57471ab9900663e141873e" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1763" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:728px;height:240px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25069" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:575px;top:0px;">As of December 31, </div><div id="a25072" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:568px;top:17px;">2021 </div><div id="a25075" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:665px;top:17px;">2020 </div><div id="a25077" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Deferred tax assets: </div><div id="a25084" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:52px;">Net operating loss carryforwards </div><div id="a25086" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:52px;">$ </div><div id="a25088" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:582px;top:52px;">32,405</div><div id="a25091" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:52px;">$ </div><div id="a25093" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:52px;">12,373</div><div id="a25095" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:69px;">Compensation accruals </div><div id="a25098" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:588px;top:69px;">1,735</div><div id="a25102" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:69px;">377</div><div id="a25104" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:86px;">Other </div><div id="a25107" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:86px;">27</div><div id="a25111" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:86px;">627</div><div id="a25113" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:103px;">Total deferred tax assets </div><div id="a25116" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:582px;top:103px;">34,167</div><div id="a25120" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:679px;top:103px;">13,377</div><div id="a25122" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:120px;">Less: valuation allowance </div><div id="a25125" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:577px;top:120px;display:flex;">(34,106)</div><div id="a25129" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:674px;top:120px;display:flex;">(13,247)</div><div id="a25131" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">Net deferred tax assets </div><div id="a25133" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:138px;">$ </div><div id="a25135" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:138px;">61</div><div id="a25138" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:138px;">$ </div><div id="a25140" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:695px;top:138px;">130</div><div id="a25148" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:172px;">Deferred tax liabilities: </div><div id="a25155" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:189px;">Depreciation </div><div id="a25157" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:189px;">$ </div><div id="a25159" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:600px;top:189px;display:flex;">(61)</div><div id="a25162" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:189px;">$ </div><div id="a25164" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:189px;display:flex;">(130)</div><div id="a25166" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:207px;">Net deferred tax liabilities </div><div id="a25169" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:600px;top:207px;display:flex;">(61)</div><div id="a25173" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:690px;top:207px;display:flex;">(130)</div><div id="a25175" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:224px;">Net deferred income taxes </div><div id="a25177" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:541px;top:224px;">$ </div><div id="a25179" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:605px;top:224px;">— </div><div id="a25182" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:224px;">$ </div><div id="a25184" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:702px;top:224px;">—</div></div></div></div>
32405000
12373000
1735000
377000
27000
627000
34167000
13377000
34106000
13247000
61000
130000
61000
130000
61000
130000
134600000
44500000
24000000.0
20200000
<div id="TextBlockContainer1770" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:729px;height:86px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1768_XBRL_TS_2836ec57b4dc4937916e8d02c6930532" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1769" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:729px;height:86px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25255" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:548px;top:0px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a25258" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:556px;top:17px;">2021 </div><div id="a25261" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:669px;top:17px;">2020 </div><div id="a25263" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Uncertain tax position liability at the beginning of the year </div><div id="a25265" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:526px;top:35px;">$ </div><div id="a25267" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:35px;">652</div><div id="a25270" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:35px;">$ </div><div id="a25272" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:35px;">646</div><div id="a25274" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:13px;top:52px;">Increases (decreases) related to tax positions taken during current period </div><div id="a25277" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:52px;">—</div><div id="a25281" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:714px;top:52px;">6</div><div id="a25283" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:70px;">Uncertain tax position liability at the end of the year </div><div id="a25286" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:526px;top:70px;">$ </div><div id="a25288" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:70px;">652</div><div id="a25291" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:640px;top:70px;">$ </div><div id="a25293" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:70px;">652</div></div></div></div>
652000
646000
0
6000
652000
652000
600000
100000
200000
<div id="TextBlockContainer1776" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:154px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25333" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">15. Net Loss Per Share </div><div id="a25343" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company’s unvested restricted common shares have been excluded from the computation of basic net loss per share.<div style="display:inline-block;width:3px"> </div></div><div id="a25346" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">The<div style="display:inline-block;width:7px"> </div>Company’s<div style="display:inline-block;width:7px"> </div>potentially<div style="display:inline-block;width:7px"> </div>dilutive<div style="display:inline-block;width:7px"> </div>securities,<div style="display:inline-block;width:7px"> </div>which<div style="display:inline-block;width:7px"> </div>include<div style="display:inline-block;width:7px"> </div>options,<div style="display:inline-block;width:7px"> </div>unvested<div style="display:inline-block;width:7px"> </div>restricted<div style="display:inline-block;width:7px"> </div>stock,<div style="display:inline-block;width:7px"> </div>convertible<div style="display:inline-block;width:7px"> </div>notes<div style="display:inline-block;width:7px"> </div>payable<div style="display:inline-block;width:7px"> </div>and </div><div id="a25348" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">convertible preferred stock, have been excluded from the computation of diluted net loss per share as the effect<div style="display:inline-block;width:5px"> </div>would be to reduce the </div><div id="a25351" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">net loss per share. Therefore, the weighted<div style="display:inline-block;width:5px"> </div>average number of common shares outstanding used<div style="display:inline-block;width:5px"> </div>to calculate both basic and diluted net </div><div id="a25354" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">loss per share is the same. The Company<div style="display:inline-block;width:5px"> </div>excluded the following potential common shares, presented based on amounts outstanding<div style="display:inline-block;width:5px"> </div>at </div><div id="a25356" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">each period end, from the<div style="display:inline-block;width:5px"> </div>computation of diluted net loss per<div style="display:inline-block;width:5px"> </div>share as of December 31, 2021<div style="display:inline-block;width:5px"> </div>and 2020 because including them<div style="display:inline-block;width:5px"> </div>would </div><div id="a25361" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">have had an anti-dilutive effect:</div></div><div id="TextBlockContainer1780" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:193px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1778_XBRL_TS_a0e024a27dbc41b6b99038f41d087678" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1779" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:193px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25367" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:603px;top:0px;">December 31, </div><div id="a25372" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:584px;top:18px;">2021 </div><div id="a25375" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:673px;top:18px;">2020 </div><div id="a25377" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:36px;">Series Seed preferred </div><div id="a25379" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:36px;">—</div><div id="a25382" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:668px;top:36px;">7,831,528</div><div id="a25384" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:54px;">Series Seed-1 preferred </div><div id="a25388" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:54px;">—</div><div id="a25391" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:662px;top:54px;">22,876,457</div><div id="a25393" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:71px;">Series Seed-2 preferred </div><div id="a25397" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:71px;">—</div><div id="a25400" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:662px;top:71px;">14,615,399</div><div id="a25402" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:89px;">Series A-1 preferred </div><div id="a25406" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:89px;">—</div><div id="a25409" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:668px;top:89px;">1,871,511</div><div id="a25411" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:106px;">Series A-2 preferred </div><div id="a25415" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:106px;">—</div><div id="a25418" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:668px;top:106px;">6,307,690</div><div id="a25420" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:124px;">Unvested restricted stock </div><div id="a25422" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:124px;">—</div><div id="a25425" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:124px;">23,970</div><div id="a25427" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:142px;">Options and RSUs issued and outstanding </div><div id="a25429" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:573px;top:142px;">21,387,909</div><div id="a25432" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:662px;top:142px;">14,434,095</div><div id="a25434" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:159px;">Warrants issued and outstanding stock </div><div id="a25436" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:579px;top:159px;">1,928,020</div><div id="a25439" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:678px;top:159px;">134,106</div><div id="a25442" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:573px;top:178px;">23,315,929</div><div id="a25445" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:662px;top:178px;">68,094,756</div></div></div></div>
<div id="TextBlockContainer1779" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:193px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25367" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:603px;top:0px;">December 31, </div><div id="a25372" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:584px;top:18px;">2021 </div><div id="a25375" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:673px;top:18px;">2020 </div><div id="a25377" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:36px;">Series Seed preferred </div><div id="a25379" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:36px;">—</div><div id="a25382" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:668px;top:36px;">7,831,528</div><div id="a25384" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:54px;">Series Seed-1 preferred </div><div id="a25388" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:54px;">—</div><div id="a25391" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:662px;top:54px;">22,876,457</div><div id="a25393" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:71px;">Series Seed-2 preferred </div><div id="a25397" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:71px;">—</div><div id="a25400" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:662px;top:71px;">14,615,399</div><div id="a25402" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:89px;">Series A-1 preferred </div><div id="a25406" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:89px;">—</div><div id="a25409" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:668px;top:89px;">1,871,511</div><div id="a25411" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:106px;">Series A-2 preferred </div><div id="a25415" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:106px;">—</div><div id="a25418" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:668px;top:106px;">6,307,690</div><div id="a25420" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:124px;">Unvested restricted stock </div><div id="a25422" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:619px;top:124px;">—</div><div id="a25425" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:685px;top:124px;">23,970</div><div id="a25427" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:142px;">Options and RSUs issued and outstanding </div><div id="a25429" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:573px;top:142px;">21,387,909</div><div id="a25432" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:662px;top:142px;">14,434,095</div><div id="a25434" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:159px;">Warrants issued and outstanding stock </div><div id="a25436" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:579px;top:159px;">1,928,020</div><div id="a25439" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:678px;top:159px;">134,106</div><div id="a25442" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:573px;top:178px;">23,315,929</div><div id="a25445" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:662px;top:178px;">68,094,756</div></div>
0
7831528
0
22876457
0
14615399
0
1871511
0
6307690
0
23970
21387909
14434095
1928020
134106
23315929
68094756
<div id="TextBlockContainer1782" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:414px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25448" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">16. Commitments and Contingencies </div><div id="a25454" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:31px;">Contractual Obligations<div style="display:inline-block;width:3px"> </div></div><div id="a25457" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">The Company<div style="display:inline-block;width:5px"> </div>enters into<div style="display:inline-block;width:5px"> </div>agreements with<div style="display:inline-block;width:5px"> </div>contract research<div style="display:inline-block;width:5px"> </div>organizations (“CROs”)<div style="display:inline-block;width:5px"> </div>to conduct<div style="display:inline-block;width:5px"> </div>clinical trials<div style="display:inline-block;width:5px"> </div>and preclinical<div style="display:inline-block;width:5px"> </div>studies </div><div id="a25459" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">and contract manufacturing organizations (“CMOs”) to produce vaccines and other potential product candidates. Contracts with CROs </div><div id="a25461" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">and CMOs are generally cancellable, with notice, at the Company’s option.<div style="display:inline-block;width:3px"> </div></div><div id="a25464" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">As of December 31, 2021, the Company had remaining prepayments to CROs of $</div><div id="a25464_75_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:447px;top:123px;">1.6</div><div id="a25464_78_46" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:463px;top:123px;"><div style="display:inline-block;width:3px"> </div>million and remaining prepayments to CMOs of </div><div id="a25467" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">$</div><div id="a25467_1_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:11px;top:138px;">2.5</div><div id="a25467_4_135" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:138px;"><div style="display:inline-block;width:4px"> </div>million for activities associated with the conduct of its<div style="display:inline-block;width:5px"> </div>clinical trials and for the production of the Company’s<div style="display:inline-block;width:5px"> </div>anticipated vaccine </div><div id="a25469" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">product candidate.<div style="display:inline-block;width:3px"> </div></div><div id="a25471" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:183px;">Michael J. Fox Foundation Grant</div><div id="a25473" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;"><div style="display:inline-block;width:3px"> </div></div><div id="a25475" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:214px;">On November 3, 2021, the<div style="display:inline-block;width:5px"> </div>Company was awarded a grant from<div style="display:inline-block;width:5px"> </div>the Michael J. Fox Foundation<div style="display:inline-block;width:5px"> </div>for Parkinson’s Research<div style="display:inline-block;width:5px"> </div>(“MJFF”) in </div><div id="a25477" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:229px;">the amount of $</div><div id="a25477_15_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:89px;top:229px;">0.8</div><div id="a25477_18_116" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:106px;top:229px;"><div style="display:inline-block;width:4px"> </div>million to be used in a<div style="display:inline-block;width:5px"> </div>project for the exploration of markers<div style="display:inline-block;width:5px"> </div>for target engagement in individuals immunized<div style="display:inline-block;width:5px"> </div>with </div><div id="a25479" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">UB-312, an<div style="display:inline-block;width:5px"> </div>active </div><div id="a25482" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:108px;top:245px;">a</div><div id="a25483" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:115px;top:245px;">-Synuclein immunotherapy.<div style="display:inline-block;width:6px"> </div>The Company<div style="display:inline-block;width:5px"> </div>will oversee<div style="display:inline-block;width:5px"> </div>sample management,<div style="display:inline-block;width:5px"> </div>sample preparation<div style="display:inline-block;width:5px"> </div>(IgG fractions) </div><div id="a25486" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:260px;">and<div style="display:inline-block;width:5px"> </div>distribution,<div style="display:inline-block;width:5px"> </div>as<div style="display:inline-block;width:5px"> </div>well<div style="display:inline-block;width:5px"> </div>as<div style="display:inline-block;width:5px"> </div>characterize<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>binding<div style="display:inline-block;width:5px"> </div>properties<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>antibodies<div style="display:inline-block;width:5px"> </div>against<div style="display:inline-block;width:5px"> </div>pathological<div style="display:inline-block;width:5px"> </div>forms<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>aSyn.<div style="display:inline-block;width:5px"> </div>As<div style="display:inline-block;width:5px"> </div>funding<div style="display:inline-block;width:5px"> </div>is </div><div id="a25488" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:275px;">expected to<div style="display:inline-block;width:2px"> </div>be utilized<div style="display:inline-block;width:2px"> </div>over a<div style="display:inline-block;width:2px"> </div>two-year period,<div style="display:inline-block;width:2px"> </div>as cash<div style="display:inline-block;width:2px"> </div>is received,<div style="display:inline-block;width:2px"> </div>the amount<div style="display:inline-block;width:2px"> </div>expected to<div style="display:inline-block;width:2px"> </div>the utilized<div style="display:inline-block;width:2px"> </div>within twelve<div style="display:inline-block;width:2px"> </div>months is<div style="display:inline-block;width:2px"> </div>recognized </div><div id="a25492" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">to short-term<div style="display:inline-block;width:5px"> </div>restricted cash/deposits, with<div style="display:inline-block;width:5px"> </div>a corresponding<div style="display:inline-block;width:5px"> </div>short-term accrued liability,<div style="display:inline-block;width:6px"> </div>which is<div style="display:inline-block;width:5px"> </div>released as<div style="display:inline-block;width:5px"> </div>the related expenses<div style="display:inline-block;width:5px"> </div>are </div><div id="a25497" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:306px;">offset. The Company recognizes payments from MJFF as a reduction of research<div style="display:inline-block;width:5px"> </div>and development expenses, in the same period as the </div><div id="a25500" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:321px;">expenses that<div style="display:inline-block;width:2px"> </div>the grant<div style="display:inline-block;width:2px"> </div>is intended<div style="display:inline-block;width:2px"> </div>to reimburse<div style="display:inline-block;width:2px"> </div>are incurred.<div style="display:inline-block;width:2px"> </div>The remaining<div style="display:inline-block;width:1px"> </div>balance of<div style="display:inline-block;width:2px"> </div>cash received<div style="display:inline-block;width:2px"> </div>is recognized<div style="display:inline-block;width:2px"> </div>to long-term<div style="display:inline-block;width:2px"> </div>restricted </div><div id="a25503" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:337px;">cash/deposits,<div style="display:inline-block;width:6px"> </div>with<div style="display:inline-block;width:6px"> </div>a<div style="display:inline-block;width:6px"> </div>corresponding<div style="display:inline-block;width:6px"> </div>long-term<div style="display:inline-block;width:6px"> </div>accrued<div style="display:inline-block;width:6px"> </div>liability.<div style="display:inline-block;width:7px"> </div>As<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>December<div style="display:inline-block;width:6px"> </div>31,<div style="display:inline-block;width:6px"> </div>2021,<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>balance<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>short-term<div style="display:inline-block;width:6px"> </div>restricted </div><div id="a25509" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:352px;">cash/deposits and the<div style="display:inline-block;width:5px"> </div>corresponding short-term accrued<div style="display:inline-block;width:5px"> </div>liability was $</div><div id="a25509_70_1" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:385px;top:352px;">0</div><div id="a25509_71_63" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:392px;top:352px;"><div style="display:inline-block;width:4px"> </div>and the balance<div style="display:inline-block;width:5px"> </div>of long-term restricted<div style="display:inline-block;width:5px"> </div>cash/deposits and the </div><div id="a25514" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:367px;">corresponding<div style="display:inline-block;width:5px"> </div>long-term<div style="display:inline-block;width:5px"> </div>accrued<div style="display:inline-block;width:5px"> </div>liability<div style="display:inline-block;width:5px"> </div>was<div style="display:inline-block;width:5px"> </div>$</div><div id="a25514_47_1" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:268px;top:367px;">0</div><div id="a25514_48_74" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:274px;top:367px;">.<div style="display:inline-block;width:5px"> </div>For<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>year<div style="display:inline-block;width:5px"> </div>ended<div style="display:inline-block;width:5px"> </div>December<div style="display:inline-block;width:5px"> </div>31,<div style="display:inline-block;width:5px"> </div>2021,<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company recognized<div style="display:inline-block;width:6px"> </div>less<div style="display:inline-block;width:5px"> </div>than<div style="display:inline-block;width:5px"> </div>$</div><div id="a25514_122_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:708px;top:367px;">0.1</div><div id="a25518" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:383px;">million as a reduction of research and development expenses for amounts reimbursed through the grant. </div></div><div id="TextBlockContainer1784" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:905px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25529" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:0px;">Lease Agreements</div><div id="a25530" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:105px;top:0px;"><div style="display:inline-block;width:3px"> </div></div><div id="a25533" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company has multiple operating lease agreements for office and laboratory space that extend through August 2022. The Company </div><div id="a25535" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">records total expense on a straight-line basis over the term of the lease agreement. One of the Company’s<div style="display:inline-block;width:5px"> </div>leases requires the Company </div><div id="a25538" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">to provide a security deposit in the amount of less than $</div><div id="a25538_58_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:306px;top:61px;">0.1</div><div id="a25538_61_76" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:323px;top:61px;"><div style="display:inline-block;width:3px"> </div>million. The Company is also required to pay certain operating costs under </div><div id="a25540" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">its leases.<div style="display:inline-block;width:3px"> </div></div><div id="a25543" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">Rent expense<div style="display:inline-block;width:2px"> </div>for each<div style="display:inline-block;width:2px"> </div>of the<div style="display:inline-block;width:2px"> </div>years ended<div style="display:inline-block;width:2px"> </div>December 31,<div style="display:inline-block;width:2px"> </div>2021 and<div style="display:inline-block;width:2px"> </div>2020 amounted<div style="display:inline-block;width:2px"> </div>to less<div style="display:inline-block;width:2px"> </div>than $</div><div id="a25543_91_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:501px;top:107px;">0.1</div><div id="a25543_94_15" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:517px;top:107px;"><div style="display:inline-block;width:3px"> </div>million, and<div style="display:inline-block;width:2px"> </div>$</div><div id="a25543_109_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:593px;top:107px;">0.1</div><div id="a25543_112_24" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:107px;"><div style="display:inline-block;width:3px"> </div>million, respectively. </div><div id="a25551" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">In August 2021,<div style="display:inline-block;width:5px"> </div>the Company entered<div style="display:inline-block;width:5px"> </div>into a lease<div style="display:inline-block;width:5px"> </div>for </div><div id="a25551_53_5" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:301px;top:123px;">5,012</div><div id="a25551_58_74" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:331px;top:123px;"><div style="display:inline-block;width:4px"> </div>square feet of<div style="display:inline-block;width:5px"> </div>lab space with<div style="display:inline-block;width:5px"> </div>Space Florida in<div style="display:inline-block;width:5px"> </div>Exploration Park, Florida </div><div id="a25554" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">commencing August<div style="display:inline-block;width:2px"> </div>12, 2021. The<div style="display:inline-block;width:1px"> </div>lease has<div style="display:inline-block;width:2px"> </div>an initial one-year<div style="display:inline-block;width:1px"> </div>term with an<div style="display:inline-block;width:1px"> </div>annual lease<div style="display:inline-block;width:2px"> </div>obligation of $</div><div id="a25554_103_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:555px;top:138px;">0.2</div><div id="a25554_106_32" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:572px;top:138px;"><div style="display:inline-block;width:3px"> </div>million, after Lessee<div style="display:inline-block;width:1px"> </div>credits. </div><div id="a25561" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:169px;">License Agreements</div><div id="a25564" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">In October 2014, the Company<div style="display:inline-block;width:2px"> </div>entered into a contribution<div style="display:inline-block;width:2px"> </div>agreement with UBI, whereby<div style="display:inline-block;width:2px"> </div>UBI contributed and assigned<div style="display:inline-block;width:2px"> </div>to the Company </div><div id="a25566" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">assets and<div style="display:inline-block;width:2px"> </div>granted a non-exclusive<div style="display:inline-block;width:1px"> </div>license to<div style="display:inline-block;width:2px"> </div>certain technologies<div style="display:inline-block;width:2px"> </div>deemed necessary<div style="display:inline-block;width:2px"> </div>or reasonably<div style="display:inline-block;width:2px"> </div>useful in<div style="display:inline-block;width:2px"> </div>the utilization<div style="display:inline-block;width:2px"> </div>of the licensed </div><div id="a25570" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">intellectual property.<div style="display:inline-block;width:6px"> </div>In consideration,<div style="display:inline-block;width:5px"> </div>the Company<div style="display:inline-block;width:5px"> </div>issued </div><div id="a25570_60_10" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:331px;top:230px;">32,505,306</div><div id="a25570_70_58" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:391px;top:230px;"><div style="display:inline-block;width:4px"> </div>shares of<div style="display:inline-block;width:5px"> </div>common stock<div style="display:inline-block;width:5px"> </div>to UBI.<div style="display:inline-block;width:5px"> </div>The agreement<div style="display:inline-block;width:5px"> </div>allowed for </div><div id="a25572" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">exploitation of all<div style="display:inline-block;width:2px"> </div>diagnostic, prophylactic, and therapeutic<div style="display:inline-block;width:1px"> </div>uses and indications in<div style="display:inline-block;width:2px"> </div>humans in the<div style="display:inline-block;width:2px"> </div>field of neurology. The agreement<div style="display:inline-block;width:2px"> </div>was </div><div id="a25574" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">amended in<div style="display:inline-block;width:5px"> </div>August 2019<div style="display:inline-block;width:5px"> </div>to provide<div style="display:inline-block;width:5px"> </div>the Company<div style="display:inline-block;width:5px"> </div>with exclusivity<div style="display:inline-block;width:5px"> </div>(except as<div style="display:inline-block;width:5px"> </div>to UBI)<div style="display:inline-block;width:5px"> </div>in the<div style="display:inline-block;width:5px"> </div>field of<div style="display:inline-block;width:5px"> </div>neurology and<div style="display:inline-block;width:5px"> </div>the flexibility<div style="display:inline-block;width:5px"> </div>to </div><div id="a25576" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">pursue indications outside the initial field limitations.<div style="display:inline-block;width:3px"> </div></div><div id="a25579" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:307px;">In connection with the amendment,<div style="display:inline-block;width:5px"> </div>the Company agreed to execute<div style="display:inline-block;width:5px"> </div>an exclusive, worldwide license agreement for<div style="display:inline-block;width:5px"> </div>any product that is </div><div id="a25581" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:322px;">developed by the Company outside the original<div style="display:inline-block;width:5px"> </div>field. The terms and conditions are<div style="display:inline-block;width:5px"> </div>to be negotiated in good faith<div style="display:inline-block;width:5px"> </div>and mutually agreed </div><div id="a25584" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:337px;">upon. The Company<div style="display:inline-block;width:5px"> </div>anticipates that if<div style="display:inline-block;width:5px"> </div>it is required<div style="display:inline-block;width:5px"> </div>to enter into<div style="display:inline-block;width:5px"> </div>an exclusive license<div style="display:inline-block;width:5px"> </div>agreement, it will<div style="display:inline-block;width:5px"> </div>be able to<div style="display:inline-block;width:5px"> </div>negotiate financial </div><div id="a25587" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:353px;">terms for the license at prevailing<div style="display:inline-block;width:5px"> </div>market rates within the pharmaceutical industry.<div style="display:inline-block;width:6px"> </div>Accordingly, the<div style="display:inline-block;width:5px"> </div>Company may be required to pay </div><div id="a25589" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:368px;">UBI upfront fees, revenue royalties, development milestones, commercial milestones, sublicense fees, and other related<div style="display:inline-block;width:2px"> </div>fees.<div style="display:inline-block;width:3px"> </div></div><div id="a25592" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:399px;">Vaxxinity’s<div style="display:inline-block;width:6px"> </div>COVAXX<div style="display:inline-block;width:5px"> </div>subsidiary was formed<div style="display:inline-block;width:5px"> </div>in March 2020<div style="display:inline-block;width:5px"> </div>through a transfer<div style="display:inline-block;width:5px"> </div>of technology from<div style="display:inline-block;width:5px"> </div>UBI, UBI IP<div style="display:inline-block;width:5px"> </div>Holdings, and UBI </div><div id="a25595" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:414px;">US Holdings, LLC, all<div style="display:inline-block;width:5px"> </div>related parties of the<div style="display:inline-block;width:5px"> </div>Company, whereby<div style="display:inline-block;width:5px"> </div>the Company,<div style="display:inline-block;width:5px"> </div>pursuant to an April<div style="display:inline-block;width:5px"> </div>2020 license agreement, obtained </div><div id="a25597" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:429px;">exclusive rights<div style="display:inline-block;width:6px"> </div>to intellectual<div style="display:inline-block;width:6px"> </div>property and<div style="display:inline-block;width:6px"> </div>technology related<div style="display:inline-block;width:6px"> </div>to the<div style="display:inline-block;width:6px"> </div>discovery of<div style="display:inline-block;width:6px"> </div>vaccines, diagnostic<div style="display:inline-block;width:6px"> </div>assays, and<div style="display:inline-block;width:6px"> </div>antigens for<div style="display:inline-block;width:6px"> </div>use </div><div id="a25599" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:445px;">against all coronaviruses<div style="display:inline-block;width:1px"> </div>including, without<div style="display:inline-block;width:2px"> </div>limitation, SARS,<div style="display:inline-block;width:2px"> </div>MERS, and<div style="display:inline-block;width:2px"> </div>COVID-19 in all<div style="display:inline-block;width:1px"> </div>strains in humans.<div style="display:inline-block;width:1px"> </div>The license<div style="display:inline-block;width:2px"> </div>is worldwide, </div><div id="a25602" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:460px;">perpetual, exclusive and fully paid-up.<div style="display:inline-block;width:2px"> </div>There are no future royalty<div style="display:inline-block;width:2px"> </div>or milestone payment obligations<div style="display:inline-block;width:2px"> </div>associated with the agreement.<div style="display:inline-block;width:2px"> </div>The </div><div id="a25606" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:475px;">Company has the right to grant sublicenses.<div style="display:inline-block;width:3px"> </div></div><div id="a25609" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:506px;">The<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>considered<div style="display:inline-block;width:5px"> </div>ASC<div style="display:inline-block;width:5px"> </div>805,<div style="display:inline-block;width:5px"> </div>“Business<div style="display:inline-block;width:5px"> </div>Combinations”<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>ASC<div style="display:inline-block;width:5px"> </div>730,<div style="display:inline-block;width:5px"> </div>“Research<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>Development”<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>determining<div style="display:inline-block;width:5px"> </div>how<div style="display:inline-block;width:5px"> </div>to </div><div id="a25610" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:521px;">account for the issuance of common<div style="display:inline-block;width:5px"> </div>stock. The license agreement is considered<div style="display:inline-block;width:5px"> </div>to be a common control transfer;<div style="display:inline-block;width:5px"> </div>however, the related </div><div id="a25612" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:537px;">party did not have any basis in the assets licensed, so there was no accounting impact for the Company.<div style="display:inline-block;width:3px"> </div></div><div id="a25615" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:567px;">In August 2021, Vaxxinity<div style="display:inline-block;width:6px"> </div>entered into a license<div style="display:inline-block;width:5px"> </div>agreement (the “Platform License<div style="display:inline-block;width:5px"> </div>Agreement”) with UBI and<div style="display:inline-block;width:5px"> </div>certain of its affiliates </div><div id="a25617" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:583px;">that<div style="display:inline-block;width:5px"> </div>expanded<div style="display:inline-block;width:5px"> </div>intellectual<div style="display:inline-block;width:5px"> </div>property<div style="display:inline-block;width:5px"> </div>rights<div style="display:inline-block;width:5px"> </div>previously<div style="display:inline-block;width:5px"> </div>licensed<div style="display:inline-block;width:5px"> </div>under<div style="display:inline-block;width:5px"> </div>previously<div style="display:inline-block;width:5px"> </div>issued<div style="display:inline-block;width:5px"> </div>license<div style="display:inline-block;width:5px"> </div>agreements<div style="display:inline-block;width:5px"> </div>with<div style="display:inline-block;width:5px"> </div>UBI.<div style="display:inline-block;width:5px"> </div>As<div style="display:inline-block;width:5px"> </div>part<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>the </div><div id="a25619" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:598px;">agreement, Vaxxinity<div style="display:inline-block;width:5px"> </div>obtained a worldwide, sublicensable (subject to certain conditions), perpetual, fully paid-up, royalty-free<div style="display:inline-block;width:5px"> </div>license </div><div id="a25625" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:613px;">to<div style="display:inline-block;width:5px"> </div>research,<div style="display:inline-block;width:5px"> </div>develop,<div style="display:inline-block;width:5px"> </div>make,<div style="display:inline-block;width:5px"> </div>have<div style="display:inline-block;width:5px"> </div>made,<div style="display:inline-block;width:5px"> </div>utilize,<div style="display:inline-block;width:5px"> </div>import,<div style="display:inline-block;width:5px"> </div>export,<div style="display:inline-block;width:5px"> </div>market,<div style="display:inline-block;width:5px"> </div>distribute,<div style="display:inline-block;width:5px"> </div>offer<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>sale,<div style="display:inline-block;width:5px"> </div>sell,<div style="display:inline-block;width:5px"> </div>have<div style="display:inline-block;width:5px"> </div>sold,<div style="display:inline-block;width:5px"> </div>commercialize<div style="display:inline-block;width:5px"> </div>or </div><div id="a25627" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:629px;">otherwise exploit peptide-based vaccines in the field<div style="display:inline-block;width:2px"> </div>of all human prophylactic and therapeutic uses,<div style="display:inline-block;width:2px"> </div>except for such vaccines related to </div><div id="a25631" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:644px;">human immunodeficiency virus (HIV), herpes<div style="display:inline-block;width:5px"> </div>simplex virus (HSE) and<div style="display:inline-block;width:5px"> </div>Immunoglobulin E (IgE). The patents<div style="display:inline-block;width:5px"> </div>and patent applications </div><div id="a25633" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:659px;">licensed under the Platform License<div style="display:inline-block;width:5px"> </div>Agreement include claims directed to<div style="display:inline-block;width:5px"> </div>a CpG delivery system, artificial<div style="display:inline-block;width:5px"> </div>T helper cell epitopes and </div><div id="a25635" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:675px;">certain designer<div style="display:inline-block;width:5px"> </div>peptides and<div style="display:inline-block;width:5px"> </div>proteins utilized in<div style="display:inline-block;width:5px"> </div>UB-612. As<div style="display:inline-block;width:5px"> </div>described above,<div style="display:inline-block;width:5px"> </div>in consideration for<div style="display:inline-block;width:5px"> </div>the Platform<div style="display:inline-block;width:5px"> </div>License Agreement, </div><div id="a25640" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:690px;">the Company issued to UBI a warrant to purchase Class A common stock (the “UBI Warrant”).<div style="display:inline-block;width:7px"> </div></div><div id="a25648" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:721px;">The Company considered ASC 805, “Business Combinations” (“ASC 805”) and ASC 730, “Research and Development” (“ASC 730”) </div><div id="a25653" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:736px;">in determining how<div style="display:inline-block;width:2px"> </div>to account for<div style="display:inline-block;width:2px"> </div>the issuance of<div style="display:inline-block;width:2px"> </div>the Class A common<div style="display:inline-block;width:1px"> </div>stock warrants. The<div style="display:inline-block;width:2px"> </div>Class A common<div style="display:inline-block;width:2px"> </div>stock warrants were<div style="display:inline-block;width:2px"> </div>issued </div><div id="a25655" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:751px;">to a related party in exchange for a license agreement. The majority of the voting interests in the related party and that of the Company </div><div id="a25658" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:767px;">were held by<div style="display:inline-block;width:5px"> </div>a group of<div style="display:inline-block;width:5px"> </div>immediate family members,<div style="display:inline-block;width:5px"> </div>at the time<div style="display:inline-block;width:5px"> </div>of the transaction,<div style="display:inline-block;width:5px"> </div>and as such<div style="display:inline-block;width:5px"> </div>the transaction constitutes<div style="display:inline-block;width:5px"> </div>a common </div><div id="a25661" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:782px;">control transaction,<div style="display:inline-block;width:5px"> </div>which requires<div style="display:inline-block;width:5px"> </div>the license<div style="display:inline-block;width:5px"> </div>to be<div style="display:inline-block;width:5px"> </div>accounted for<div style="display:inline-block;width:5px"> </div>at the<div style="display:inline-block;width:5px"> </div>carrying value<div style="display:inline-block;width:5px"> </div>in the<div style="display:inline-block;width:5px"> </div>books of<div style="display:inline-block;width:5px"> </div>the transferor.<div style="display:inline-block;width:5px"> </div>As the<div style="display:inline-block;width:5px"> </div>related </div><div id="a25663" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:797px;">party did not have any basis in the assets licensed, there was no accounting impact for the Company. </div><div id="a25667" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:828px;">In connection with<div style="display:inline-block;width:2px"> </div>preparing its financial<div style="display:inline-block;width:2px"> </div>statements for the<div style="display:inline-block;width:2px"> </div>fiscal year ended<div style="display:inline-block;width:2px"> </div>December 31, 2021,<div style="display:inline-block;width:2px"> </div>the Company identified<div style="display:inline-block;width:2px"> </div>an immaterial </div><div id="a25669" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:843px;">error relating to the recording of the UBI Warrant<div style="display:inline-block;width:6px"> </div>on its financial statements as of and for<div style="display:inline-block;width:5px"> </div>the nine months ended September 30, 2021. </div><div id="a25671" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:859px;">The UBI<div style="display:inline-block;width:6px"> </div>Warrant<div style="display:inline-block;width:6px"> </div>was recorded<div style="display:inline-block;width:6px"> </div>on<div style="display:inline-block;width:5px"> </div>the balance<div style="display:inline-block;width:6px"> </div>sheet as<div style="display:inline-block;width:6px"> </div>additional paid<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:5px"> </div>capital and<div style="display:inline-block;width:6px"> </div>recognized<div style="display:inline-block;width:5px"> </div>as an<div style="display:inline-block;width:6px"> </div>‘intangible asset<div style="display:inline-block;width:6px"> </div>–<div style="display:inline-block;width:5px"> </div>licensed </div><div id="a25675" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:874px;">intellectual property’<div style="display:inline-block;width:5px"> </div>in the<div style="display:inline-block;width:5px"> </div>amount of<div style="display:inline-block;width:5px"> </div>$</div><div id="a25675_41_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:222px;top:874px;">13.3</div><div id="a25675_45_15" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:246px;top:874px;"><div style="display:inline-block;width:4px"> </div>million, and<div style="display:inline-block;width:5px"> </div>$</div><div id="a25675_60_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:326px;top:874px;">0.1</div><div id="a25675_63_68" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:342px;top:874px;"><div style="display:inline-block;width:4px"> </div>million was<div style="display:inline-block;width:5px"> </div>amortized in<div style="display:inline-block;width:5px"> </div>the nine<div style="display:inline-block;width:5px"> </div>months ended<div style="display:inline-block;width:5px"> </div>September 30, 2021. </div><div id="a25683" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:889px;">However, as noted above, the UBI Warrant<div style="display:inline-block;width:5px"> </div>was issued to a related party whose basis in the rights and licenses received pursuant to the </div></div><div id="TextBlockContainer1786" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:737px;height:292px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25694" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:0px;">Platform License Agreement was zero. As a result, the<div style="display:inline-block;width:5px"> </div>transaction should not have resulted in any accounting impact to<div style="display:inline-block;width:5px"> </div>the Company.<div style="display:inline-block;width:4px"> </div></div><div id="a25701" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:15px;">The Company has concluded that the error is not material to any previously issued financial statements. </div><div id="a25706" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:46px;">Indemnification Agreements<div style="display:inline-block;width:3px"> </div></div><div id="a25709" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">In the ordinary<div style="display:inline-block;width:5px"> </div>course of business,<div style="display:inline-block;width:5px"> </div>the Company may<div style="display:inline-block;width:5px"> </div>provide indemnification of<div style="display:inline-block;width:5px"> </div>varying scope and<div style="display:inline-block;width:5px"> </div>terms to employees,<div style="display:inline-block;width:5px"> </div>consultants, </div><div id="a25712" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">vendors, lessors,<div style="display:inline-block;width:5px"> </div>business partners and<div style="display:inline-block;width:5px"> </div>other parties<div style="display:inline-block;width:5px"> </div>with respect<div style="display:inline-block;width:5px"> </div>to certain<div style="display:inline-block;width:5px"> </div>matters including, but<div style="display:inline-block;width:5px"> </div>not limited<div style="display:inline-block;width:5px"> </div>to, losses<div style="display:inline-block;width:5px"> </div>arising out<div style="display:inline-block;width:5px"> </div>of </div><div id="a25714" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">breach of such<div style="display:inline-block;width:2px"> </div>agreements or from<div style="display:inline-block;width:2px"> </div>intellectual property infringement<div style="display:inline-block;width:1px"> </div>claims made by<div style="display:inline-block;width:2px"> </div>third parties. In<div style="display:inline-block;width:2px"> </div>addition, the Company<div style="display:inline-block;width:1px"> </div>has entered </div><div id="a25716" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">into indemnification agreements<div style="display:inline-block;width:5px"> </div>with members of<div style="display:inline-block;width:5px"> </div>its board of<div style="display:inline-block;width:5px"> </div>directors and executive<div style="display:inline-block;width:5px"> </div>officers that<div style="display:inline-block;width:5px"> </div>will require<div style="display:inline-block;width:5px"> </div>the Company,<div style="display:inline-block;width:6px"> </div>among </div><div id="a25718" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:138px;">other things, to indemnify them against certain liabilities that may arise by reason of their status or<div style="display:inline-block;width:5px"> </div>service as directors or officers. The </div><div id="a25721" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">maximum potential amount of future payments<div style="display:inline-block;width:5px"> </div>the Company could be required to<div style="display:inline-block;width:5px"> </div>make under these indemnification agreements is,<div style="display:inline-block;width:5px"> </div>in </div><div id="a25723" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company is </div><div id="a25725" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">not aware of any indemnification arrangements that could have<div style="display:inline-block;width:5px"> </div>a material effect on its financial position,<div style="display:inline-block;width:5px"> </div>results of operations, or cash </div><div id="a25727" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">flows, and it has not accrued any liabilities related to such obligations as of December 31, 2021.<div style="display:inline-block;width:2px"> </div></div><div id="a25732" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:230px;">Legal Proceedings</div><div id="a25733" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:106px;top:230px;"><div style="display:inline-block;width:3px"> </div></div><div id="a25736" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">From<div style="display:inline-block;width:6px"> </div>time<div style="display:inline-block;width:6px"> </div>to<div style="display:inline-block;width:6px"> </div>time,<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>Company<div style="display:inline-block;width:6px"> </div>may<div style="display:inline-block;width:6px"> </div>become<div style="display:inline-block;width:6px"> </div>involved<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:6px"> </div>legal<div style="display:inline-block;width:6px"> </div>proceedings<div style="display:inline-block;width:6px"> </div>arising<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>ordinary<div style="display:inline-block;width:6px"> </div>course<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>business.<div style="display:inline-block;width:6px"> </div>As<div style="display:inline-block;width:6px"> </div>of </div><div id="a25738" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">December 31, 2021, the Company was not a party to any material legal matters or claims.</div></div>
1600000
2500000
800000
0
0
100000
100000
100000
100000
5012
200000
32505306
13300000
100000
<div id="TextBlockContainer1788" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:139px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25745" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">17. Benefit Plans </div><div id="a25751" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">In<div style="display:inline-block;width:5px"> </div>March<div style="display:inline-block;width:5px"> </div>2018,<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>established<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>defined<div style="display:inline-block;width:5px"> </div>contribution<div style="display:inline-block;width:5px"> </div>savings<div style="display:inline-block;width:5px"> </div>plan<div style="display:inline-block;width:5px"> </div>under<div style="display:inline-block;width:5px"> </div>Section<div style="display:inline-block;width:5px"> </div>401(k)<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Code.<div style="display:inline-block;width:5px"> </div>This<div style="display:inline-block;width:5px"> </div>plan<div style="display:inline-block;width:5px"> </div>covers </div><div id="a25753" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">substantially all<div style="display:inline-block;width:5px"> </div>U.S. employees<div style="display:inline-block;width:5px"> </div>who meet<div style="display:inline-block;width:5px"> </div>minimum age<div style="display:inline-block;width:5px"> </div>and service<div style="display:inline-block;width:5px"> </div>requirements and<div style="display:inline-block;width:5px"> </div>allows participants<div style="display:inline-block;width:5px"> </div>to defer<div style="display:inline-block;width:5px"> </div>a portion<div style="display:inline-block;width:5px"> </div>of their </div><div id="a25755" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">annual compensation on a pre-tax basis. The Company does not make matching contributions to the Plan. </div><div id="a25760" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">The Company offers its Ireland-based employees a<div style="display:inline-block;width:5px"> </div>Personal Retirement Savings Account (“PRSA”) that allows participants to<div style="display:inline-block;width:5px"> </div>defer a </div><div id="a25764" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">portion of their<div style="display:inline-block;width:2px"> </div>annual compensation. The<div style="display:inline-block;width:2px"> </div>Company provides contributions<div style="display:inline-block;width:2px"> </div>equal to </div><div id="a25764_82_1" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:452px;top:107px;">5</div><div id="a25764_83_51" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:459px;top:107px;">% of each<div style="display:inline-block;width:2px"> </div>participant’s annual salary. During both </div><div id="a25766" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">of the years ended December 31, 2021 and 2020, the Company contributed less than $</div><div id="a25766_82_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:464px;top:123px;">0.1</div><div id="a25766_85_26" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:481px;top:123px;"><div style="display:inline-block;width:3px"> </div>million to PRSA accounts.</div></div>
0.05
100000
<div id="TextBlockContainer1790" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:430px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25772" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">18. Related Party Transactions </div><div id="a25780" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company has<div style="display:inline-block;width:2px"> </div>a Related Party<div style="display:inline-block;width:2px"> </div>policy which defines<div style="display:inline-block;width:2px"> </div>related parties, and<div style="display:inline-block;width:2px"> </div>assigns oversight responsibility<div style="display:inline-block;width:2px"> </div>for related party transactions </div><div id="a25783" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">to<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company's Audit<div style="display:inline-block;width:6px"> </div>Committee.<div style="display:inline-block;width:9px"> </div>The<div style="display:inline-block;width:5px"> </div>Committee reviews<div style="display:inline-block;width:6px"> </div>in<div style="display:inline-block;width:5px"> </div>advance related<div style="display:inline-block;width:6px"> </div>party<div style="display:inline-block;width:5px"> </div>transactions, and<div style="display:inline-block;width:6px"> </div>considers multiple<div style="display:inline-block;width:6px"> </div>factors, </div><div id="a25785" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:61px;">including the<div style="display:inline-block;width:2px"> </div>proposed aggregate<div style="display:inline-block;width:2px"> </div>value of the<div style="display:inline-block;width:1px"> </div>transaction, or, in<div style="display:inline-block;width:2px"> </div>the case<div style="display:inline-block;width:2px"> </div>of indebtedness,<div style="display:inline-block;width:2px"> </div>the amount<div style="display:inline-block;width:2px"> </div>of principal that<div style="display:inline-block;width:1px"> </div>would be<div style="display:inline-block;width:2px"> </div>involved, </div><div id="a25787" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:77px;">the benefits<div style="display:inline-block;width:5px"> </div>to the<div style="display:inline-block;width:5px"> </div>Company of<div style="display:inline-block;width:5px"> </div>the proposed transaction,<div style="display:inline-block;width:5px"> </div>the availability of<div style="display:inline-block;width:5px"> </div>other sources of<div style="display:inline-block;width:5px"> </div>comparable products or<div style="display:inline-block;width:5px"> </div>services, and<div style="display:inline-block;width:5px"> </div>an </div><div id="a25789" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">assessment of whether<div style="display:inline-block;width:5px"> </div>the proposed transaction is<div style="display:inline-block;width:5px"> </div>on terms that<div style="display:inline-block;width:5px"> </div>are comparable to<div style="display:inline-block;width:5px"> </div>the terms available to<div style="display:inline-block;width:5px"> </div>or from, as<div style="display:inline-block;width:5px"> </div>the case may be, </div><div id="a25791" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">unrelated third parties.<div style="display:inline-block;width:9px"> </div>Under the policy,<div style="display:inline-block;width:6px"> </div>related party transactions<div style="display:inline-block;width:5px"> </div>are approved only<div style="display:inline-block;width:5px"> </div>if the Committee<div style="display:inline-block;width:5px"> </div>determines in good<div style="display:inline-block;width:5px"> </div>faith that </div><div id="a25793" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">the transaction is not inconsistent with the interests of the Company and its shareholders. </div><div id="a25797" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:153px;">The Company has related<div style="display:inline-block;width:2px"> </div>party arrangements with<div style="display:inline-block;width:2px"> </div>UBI and a number<div style="display:inline-block;width:2px"> </div>of its affiliated companies<div style="display:inline-block;width:2px"> </div>listed namely, United Biomedical, Inc., </div><div id="a25800" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:169px;">Asia (“UBI-Asia”), UBI Pharma, Inc. (“UBI-P”), United BioPharma, Inc (“UBP”) and UBI IP Holding (“UBI-IP”). </div><div id="a25820" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">As of<div style="display:inline-block;width:5px"> </div>December 31, 2021<div style="display:inline-block;width:5px"> </div>UBI owned </div><div id="a25820_34_2" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:215px;top:199px;">43</div><div id="a25820_36_91" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:229px;top:199px;">% of<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:6px"> </div>stock on<div style="display:inline-block;width:5px"> </div>an as<div style="display:inline-block;width:5px"> </div>converted basis.<div style="display:inline-block;width:5px"> </div>The majority<div style="display:inline-block;width:5px"> </div>of the<div style="display:inline-block;width:5px"> </div>voting interests<div style="display:inline-block;width:5px"> </div>in </div><div id="a25830" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">both UBI and the Company were held by a group of immediate family members, and as such the entities are under common control. </div><div id="a25836" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:245px;">These related parties are governed by various Master Services Agreements (“MSA”) detailed below.<div style="display:inline-block;width:3px"> </div></div><div id="a25846" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:276px;">UBI MSA - UBI provides research,<div style="display:inline-block;width:2px"> </div>development and clinical functions to<div style="display:inline-block;width:2px"> </div>the Company. There is also a purchase arrangement<div style="display:inline-block;width:2px"> </div>with </div><div id="a25851" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:291px;">UBI for the production and shipment of the Company’s diagnostic test kits. </div><div id="a25855" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:322px;">UBIA MSA - UBI-Asia for manufacturing, quality control, testing, validation, and supply services. </div><div id="a25863" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:353px;">UBP MSA - United BioPharma, Inc provide the Company with manufacturing, testing and validation. </div><div id="a25871" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:383px;">COVID MSA (“COVID MSA”)<div style="display:inline-block;width:5px"> </div>- COVID MSA<div style="display:inline-block;width:5px"> </div>provides that UBI acts<div style="display:inline-block;width:5px"> </div>as COVAXX’s<div style="display:inline-block;width:7px"> </div>agent with respect<div style="display:inline-block;width:5px"> </div>to matters relating<div style="display:inline-block;width:5px"> </div>the </div><div id="a25875" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:399px;">Company’s COVID-19 program and provides research, development, manufacturing and back office administrative services to the </div><div id="a25879" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:414px;">Company.<div style="display:inline-block;width:4px"> </div></div></div><div id="TextBlockContainer1792" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:353px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25890" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:15px;">COVID-19<div style="display:inline-block;width:6px"> </div>Relief<div style="display:inline-block;width:6px"> </div>MSA<div style="display:inline-block;width:6px"> </div>-<div style="display:inline-block;width:6px"> </div>A<div style="display:inline-block;width:6px"> </div>four-company<div style="display:inline-block;width:6px"> </div>MSA<div style="display:inline-block;width:6px"> </div>with<div style="display:inline-block;width:6px"> </div>UBI,<div style="display:inline-block;width:6px"> </div>UBI-Asia<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>UBP.<div style="display:inline-block;width:7px"> </div>The<div style="display:inline-block;width:6px"> </div>Company<div style="display:inline-block;width:6px"> </div>is<div style="display:inline-block;width:6px"> </div>an<div style="display:inline-block;width:6px"> </div>exclusive<div style="display:inline-block;width:6px"> </div>licensee<div style="display:inline-block;width:6px"> </div>of </div><div id="a25900" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:31px;">technologies related to diagnostics, vaccines, and therapies for COVID-19. The MSA established the terms under which UBI-Asia </div><div id="a25906" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:46px;">provides research, development, testing and manufacturing services to<div style="display:inline-block;width:5px"> </div>the Company and UBP provides contract development<div style="display:inline-block;width:5px"> </div>and </div><div id="a25907" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:28px;top:61px;">manufacturing services to the Company. </div><div id="a25910" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:92px;">Total amounts due to<div style="display:inline-block;width:2px"> </div>related parties were<div style="display:inline-block;width:1px"> </div>$</div><div id="a25910_43_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:231px;top:92px;">19.4</div><div id="a25910_47_14" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:255px;top:92px;"><div style="display:inline-block;width:3px"> </div>million and $</div><div id="a25910_61_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:328px;top:92px;">8.0</div><div id="a25910_64_71" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:344px;top:92px;"><div style="display:inline-block;width:3px"> </div>million as of<div style="display:inline-block;width:2px"> </div>December 31, 2021<div style="display:inline-block;width:2px"> </div>and 2020, respectively. Total amounts </div><div id="a25913" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:107px;">due from related<div style="display:inline-block;width:1px"> </div>parties were<div style="display:inline-block;width:2px"> </div>$</div><div id="a25913_31_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:168px;top:107px;">0.4</div><div id="a25913_34_14" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:184px;top:107px;"><div style="display:inline-block;width:3px"> </div>million and<div style="display:inline-block;width:2px"> </div>$</div><div id="a25913_48_3" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:257px;top:107px;">0.4</div><div id="a25913_51_85" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:273px;top:107px;"><div style="display:inline-block;width:3px"> </div>million as<div style="display:inline-block;width:2px"> </div>of December<div style="display:inline-block;width:2px"> </div>31, 2021 and<div style="display:inline-block;width:1px"> </div>December 31,<div style="display:inline-block;width:2px"> </div>2020, respectively.<div style="display:inline-block;width:6px"> </div>Total service </div><div id="a25915" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:123px;">fees incurred were $</div><div id="a25915_20_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:113px;top:123px;">35.4</div><div id="a25915_24_14" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:136px;top:123px;"><div style="display:inline-block;width:3px"> </div>million and $</div><div id="a25915_38_4" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:211px;top:123px;">18.2</div><div id="a25915_42_72" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:234px;top:123px;"><div style="display:inline-block;width:3px"> </div>million for the years ended December 31, 2021 and 2020, respectively.<div style="display:inline-block;width:4px"> </div></div><div id="a25919" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:italic;color:#000000;left:4px;top:153px;">Taiwan Centers for Disease Control Grant (“Taiwan<div style="display:inline-block;width:5px"> </div>CDC”)<div style="display:inline-block;width:3px"> </div></div><div id="a25922" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:184px;">UBI-Asia, which is responsible<div style="display:inline-block;width:2px"> </div>for applying for and managing<div style="display:inline-block;width:2px"> </div>grants on our behalf under<div style="display:inline-block;width:2px"> </div>the COVID-19 program, was awarded<div style="display:inline-block;width:2px"> </div>a grant </div><div id="a25931" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:199px;">by the Taiwan<div style="display:inline-block;width:5px"> </div>CDC for COVID-19 vaccine<div style="display:inline-block;width:5px"> </div>development. The Company contracted with<div style="display:inline-block;width:5px"> </div>UBI-Asia to conduct a<div style="display:inline-block;width:5px"> </div>two-phase study of a </div><div id="a25940" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:215px;">COVID-19 vaccine clinical trial<div style="display:inline-block;width:5px"> </div>in Taiwan.<div style="display:inline-block;width:5px"> </div>The grant provides that<div style="display:inline-block;width:5px"> </div>costs incurred to complete<div style="display:inline-block;width:5px"> </div>the two phases of<div style="display:inline-block;width:5px"> </div>the clinical trial will </div><div id="a25945" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:230px;">be reimbursed based on the achievement of certain milestones as provided in the agreement. </div><div id="a25948" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">The Company provides administrative services to UBI-IP.<div style="display:inline-block;width:5px"> </div>Under the arrangement, the Company issues vendor payments and provides </div><div id="a25951" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:276px;">technical services mostly for legal services on behalf UBI-IP.<div style="display:inline-block;width:6px"> </div>The Company bills UBI-IP for services based on the<div style="display:inline-block;width:5px"> </div>costs incurred with </div><div id="a25959" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:291px;">no markup. </div><div id="a25962" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:322px;">Total<div style="display:inline-block;width:5px"> </div>related party operating<div style="display:inline-block;width:5px"> </div>activity,<div style="display:inline-block;width:5px"> </div>including the activity<div style="display:inline-block;width:5px"> </div>described above, for<div style="display:inline-block;width:5px"> </div>the years ended<div style="display:inline-block;width:5px"> </div>December 31, 2021<div style="display:inline-block;width:5px"> </div>and 2020 are<div style="display:inline-block;width:5px"> </div>as </div><div id="a25968" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:337px;">follows (in thousands):</div></div><div id="TextBlockContainer1795" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:375px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25973" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a25976" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:17px;">2021 </div><div id="a25979" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:17px;">2020 </div><div id="a25981" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Consolidated balance sheet </div><div id="a25988" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:52px;">Assets </div><div id="a25995" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:69px;">Prepaid expenses and other current assets </div><div id="a25997" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:546px;top:69px;">$</div><div id="a25999" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:69px;">3,517</div><div id="a26002" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:69px;">$ </div><div id="a26004" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:69px;">2,867</div><div id="a26006" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:86px;">Property and equipment, net </div><div id="a26009" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:86px;">337</div><div id="a26013" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:86px;">725</div><div id="a26015" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:103px;">Accrued expenses </div><div id="a26018" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:103px;">—</div><div id="a26022" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:103px;">285</div><div id="a26024" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:120px;">Amounts due from related parties </div><div id="a26027" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:120px;">393</div><div id="a26031" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:120px;">361</div><div id="a26033" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:137px;">Liabilities </div><div id="a26040" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:154px;">Amounts due to related parties </div><div id="a26043" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:154px;">19,407</div><div id="a26047" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:154px;">8,004</div><div id="a26056" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:555px;top:188px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a26059" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:205px;">2021 </div><div id="a26062" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:205px;">2020 </div><div id="a26064" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:223px;">Consolidated statement of operations </div><div id="a26071" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:240px;">Revenue </div><div id="a26073" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:546px;top:240px;">$</div><div id="a26075" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:240px;">—</div><div id="a26078" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:240px;">$ </div><div id="a26080" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:240px;">162</div><div id="a26082" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:257px;">Cost of revenue </div><div id="a26085" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:257px;">—</div><div id="a26089" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:257px;">52</div><div id="a26091" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:274px;">Operating expenses </div><div id="a26098" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:291px;">Research and development </div><div id="a26106" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:308px;">Services provided by related parties </div><div id="a26109" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:308px;">41,430</div><div id="a26113" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:308px;">17,987</div><div id="a26115" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:325px;">Taiwan CDC grant reimbursement from related party </div><div id="a26118" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:325px;display:flex;">(7,199)</div><div id="a26122" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:325px;display:flex;">(2,948)</div><div id="a26124" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:342px;">General and administrative </div><div id="a26131" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:359px;">Services provided by related parties </div><div id="a26134" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:359px;">1,173</div><div id="a26138" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:359px;">3,147</div></div>
0.43
19400000
8000000.0
400000
400000
35400000
18200000
<div id="TextBlockContainer1796" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:375px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_1794_XBRL_TS_8d6e5a46fc6c494ca8c619621b4c0f15" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer1795" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:730px;height:375px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25973" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:594px;top:0px;">December 31, </div><div id="a25976" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:17px;">2021 </div><div id="a25979" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:17px;">2020 </div><div id="a25981" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:35px;">Consolidated balance sheet </div><div id="a25988" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:52px;">Assets </div><div id="a25995" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:69px;">Prepaid expenses and other current assets </div><div id="a25997" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:546px;top:69px;">$</div><div id="a25999" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:69px;">3,517</div><div id="a26002" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:69px;">$ </div><div id="a26004" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:69px;">2,867</div><div id="a26006" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:86px;">Property and equipment, net </div><div id="a26009" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:86px;">337</div><div id="a26013" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:86px;">725</div><div id="a26015" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:103px;">Accrued expenses </div><div id="a26018" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:103px;">—</div><div id="a26022" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:103px;">285</div><div id="a26024" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:120px;">Amounts due from related parties </div><div id="a26027" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:120px;">393</div><div id="a26031" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:120px;">361</div><div id="a26033" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:137px;">Liabilities </div><div id="a26040" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:154px;">Amounts due to related parties </div><div id="a26043" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:154px;">19,407</div><div id="a26047" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:154px;">8,004</div><div id="a26056" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:555px;top:188px;">Years<div style="display:inline-block;width:5px"> </div>Ended December 31, </div><div id="a26059" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:571px;top:205px;">2021 </div><div id="a26062" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:668px;top:205px;">2020 </div><div id="a26064" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:223px;">Consolidated statement of operations </div><div id="a26071" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:240px;">Revenue </div><div id="a26073" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:546px;top:240px;">$</div><div id="a26075" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:240px;">—</div><div id="a26078" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:638px;top:240px;">$ </div><div id="a26080" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:701px;top:240px;">162</div><div id="a26082" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:257px;">Cost of revenue </div><div id="a26085" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:610px;top:257px;">—</div><div id="a26089" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:707px;top:257px;">52</div><div id="a26091" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:274px;">Operating expenses </div><div id="a26098" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:291px;">Research and development </div><div id="a26106" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:308px;">Services provided by related parties </div><div id="a26109" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:587px;top:308px;">41,430</div><div id="a26113" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:684px;top:308px;">17,987</div><div id="a26115" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:325px;">Taiwan CDC grant reimbursement from related party </div><div id="a26118" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:325px;display:flex;">(7,199)</div><div id="a26122" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:686px;top:325px;display:flex;">(2,948)</div><div id="a26124" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:31px;top:342px;">General and administrative </div><div id="a26131" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:49px;top:359px;">Services provided by related parties </div><div id="a26134" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:594px;top:359px;">1,173</div><div id="a26138" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:691px;top:359px;">3,147</div></div></div></div>
3517000
2867000
337000
725000
0
285000
393000
361000
19407000
8004000
0
162000
0
52000
41430000
17987000
-7199000
-2948000
1173000
3147000
<div id="TextBlockContainer1798" style="position:relative;font-family:'Times New Roman';font-size:13.36px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a26144" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">19. Subsequent Events </div><div id="a26150" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:31px;">The Company has evaluated subsequent events<div style="display:inline-block;width:2px"> </div>through March 24, 2022 and has concluded<div style="display:inline-block;width:2px"> </div>that no events or transactions have<div style="display:inline-block;width:2px"> </div>occurred </div><div id="a26156" style="position:absolute;font-family:'Times New Roman';font-size:13.36px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:46px;">that require disclosure in the accompanying consolidated financial statements.</div></div>