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Unaudited Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (24,642) $ (11,312)
Adjustment to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization expense 705 218
Stock-based compensation expense 265 89
Reduction in the operating right of use assets 1,329 381
Amortization of debt discount 1,283 623
Change in fair value of derivative liability 84 557
Accretion on marketable securities (163)  
Non-cash interest expense 41 59
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,623) (1,607)
Accounts payable 2,823 2,612
Accrued expenses (4,445) (2,259)
Deferred revenue (323) 45,619
Operating lease liabilities (868) (376)
Net cash (used in) provided by operating activities (25,534) 34,604
Cash flows from investing activities:    
Purchase of marketable securities (34,460) (63,244)
Proceeds from the sale of marketable securities 31,000  
Purchases of property and equipment (135) (1,007)
Net cash used in investing activities (3,595) (64,251)
Cash flows from financing activities:    
Cash, cash equivalents and restricted cash acquired in connection with the reverse recapitalization 37,903  
Payment of reverse recapitalization finance costs (1,742)  
Proceeds from the issuance of common stock in pre-closing financing 30,640  
Payment of principal related to finance lease liabilities (106)  
Proceeds from failed sale-leaseback arrangement 1,092  
Payment of finance liability from failed sale-leaseback arrangement (45)  
Proceeds from issuance of convertible promissory note   35,000
Net cash provided by financing activities 67,742 35,000
Net increase in cash and cash equivalents 38,613 5,353
Cash, cash equivalents and restricted cash at beginning of the period 24,194 28,551
Cash, cash equivalents and restricted cash at end of the period 62,807 33,904
Supplemental disclosures of cash flow information    
Cash paid for interest 45  
Supplemental disclosure of non-cash financing and investing activities    
Conversion of convertible preferred stock and non-controlling interests upon Merger 122,204  
Conversion of convertible promissory note, accrued interest and derivative liability upon Merger 42,447  
Reverse recapitalization costs in accrued expenses 4,071  
Unrealized gain (loss) on marketable securities 177 (158)
Right-of-use assets obtained in exchange for new operating lease liabilities   3,072
Allocation of debt proceeds to derivative liability   3,820
Property and equipment in accounts payable $ 49 $ 103