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Unaudited Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (44,518) $ (26,160)
Adjustment to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization expense 1,420 463
Stock-based compensation expense 595 147
Reduction in the operating right of use assets 2,683 1,620
Amortization of debt discount 1,283 1,305
Change in fair value of derivative liability 84 701
Accretion on marketable securities (569) 0
Non-cash interest expense 68 4
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,210) (1,324)
Accounts payable 659 674
Accrued expenses (1,618) (484)
Deferred revenue (1,043) 45,447
Operating lease liabilities (1,915) (2,088)
Net cash (used in) provided by operating activities (44,081) 20,305
Cash flows from investing activities:    
Purchase of marketable securities (34,460) (42,103)
Proceeds from the sale of marketable securities 67,000 0
Purchases of property and equipment (382) (2,038)
Net cash provided by (used in) investing activities 32,158 (44,141)
Cash flows from financing activities:    
Cash, cash equivalents and restricted cash acquired in connection with the reverse recapitalization 37,903 0
Payment of reverse recapitalization finance costs (5,202) 0
Proceeds from the issuance of common stock in pre-closing financing 30,640 0
Payment of principal related to finance lease liabilities (213) (17)
Proceeds from failed sale-leaseback arrangement 1,020 0
Payment of finance liability from failed sale-leaseback arrangement (88) 0
Proceeds from issuance of convertible promissory note 0 35,000
Proceeds from the exercise of stock options 52 0
Net cash provided by financing activities 64,112 34,983
Net increase in cash, cash equivalents and restricted cash 52,189 11,147
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 76,383 39,698
Supplemental disclosures of cash flow information:    
Cash paid for interest 88 0
Supplemental disclosure of non-cash financing and investing activities:    
Conversion of convertible preferred stock and non-controlling interests upon Merger 122,204 0
Conversion of convertible promissory note, accrued interest and derivative liability upon Merger 42,447 0
Reverse recapitalization costs in accrued expenses 611 0
Unrealized gain (loss) on marketable securities 306 (197)
Deferred financing costs in accounts payable 86 0
Deferred financing costs in accrued expenses 60 0
Right-of-use assets obtained in exchange for new operating lease liabilities 908 6,437
Right-of-use assets obtained in exchange for new financing lease liabilities 0 268
Allocation of debt proceeds to derivative liability 0 3,820
Property and equipment in accounts payable $ 0 $ 993