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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Net loss $ (34,506) $ (22,811)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization   5
Amortization of operating lease asset 195 178
Warrant inducement expense   4,829
Stock-based compensation 7,904 3,171
Deferred income taxes (2,354) (404)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (2,095) 39
Accounts payable and accrued expenses 2,143 (39)
Operating lease liability (200) (180)
Net cash used in operating activities (28,913) (15,212)
Investing activities    
Cash and cash equivalents received from acquisition   11,035
Net cash provided by investing activities   11,035
Financing activities    
Proceeds from issuance of common stock, net   9,000
Proceeds from issuance of non-voting preferred stock in connection with PIPE transaction, net   95,226
Proceeds from exercise of warrants, net   5,380
Proceeds from exercise of stock options 1  
Payment of offering costs in connection with PIPE transaction (450)  
Cash paid for cancellation of common stock in connection with reverse split   (25)
Net cash (used in) provided by financing activities (449) 109,581
Net change in cash and cash equivalents (29,362) 105,404
Cash and cash equivalents at beginning of year 114,195 8,791
Cash and cash equivalents at end of year 84,833 114,195
Supplemental disclosure of non-cash investing and financing activities    
Increase in operating lease asset and liability due to new and modified operating leases 825  
Common stock exchange for warrants $ 1  
Conversion of Series X1 non-voting convertible preferred stock into common stock   13
Issuance of common stock in acquisition   1,194
Issuance of Series X non-voting convertible preferred stock in acquisition   69,723
Fair value of options assumed in acquisition   2,950
Fair value of warrants assumed in acquisition   12,944
Accrued offering costs   $ 450