XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net loss $ (26,606,000) $ (20,523,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 421,000 272,000
Stock-based compensation expense 1,133,000 827,000
Non-cash lease expense 854,000 589,000
Non-cash interest and other expense, net 267,000 516,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (336,000) 190,000
Accounts payable (89,000) 1,130,000
Accrued expenses and other liabilities 946,000 (363,000)
Interest payable 27,000 89,000
Operating lease liabilities (1,210,000) (699,000)
Cash used in operating activities (24,593,000) (17,972,000)
Investing activities:    
Purchase of property and equipment (206,000) (108,000)
Repayment of note receivable 0 38,000
Cash used in investing activities (206,000) (70,000)
Financing activities:    
Proceeds from the issuance of common stock, net of issuance costs 8,849,000 33,474,000
Proceeds from issuance of pre-funded warrants, net of issuance costs 7,280,000 0
Borrowings on loan payable 0 15,000,000
Payment of loan issuance costs 0 (93,000)
Cash acquired in connection with reverse recapitalization 0 17,045,000
Payment of reverse recapitalization transaction costs 0 (6,420,000)
Proceeds from option exercises 0 66,000
Cash provided by financing activities 16,129,000 59,072,000
Effect of exchange rate changes on cash 0 (89,000)
Net (decrease) increase in cash and cash equivalents (8,670,000) 40,941,000
Cash, cash equivalents and restricted cash at beginning of period 51,829,000 18,820,000
Cash, cash equivalents and restricted cash at end of period 43,159,000 59,761,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 893,000 682,000
Non-cash operating activities:    
Lease modification 884,000 0
Non-cash investing activities:    
Property and equipment in accounts payable 4,000 0
Non-cash financing activities:    
Vesting of early exercise stock options $ 0 $ 135,000