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Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2023
Accounting Policies [Abstract]  
Summary of Effect of the Adoption of ASC 842 on Statement of Operation and Cash Flows

The following table summarizes the effect of the adoption of ASC 842 on the condensed consolidated statement of operation and statement of cash flows for the three months ended March 31, 2022 (in thousands):

 

 

 

Pre ASC 842 Three Months Ended
March 31, 2022

 

 

ASC 842 Adjustments

 

 

After ASC 842 Three Months Ended
March 31, 2022

 

Condensed Consolidated Statements of Operations

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Research and development

 

$

37,799

 

 

$

383

 

 

$

38,182

 

Other income (expense):

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(849

)

 

 

177

 

 

 

(672

)

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statements of Cash Flows

 

 

 

 

 

 

 

 

 

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

 

Depreciation expense

 

$

257

 

 

$

3

 

 

$

260

 

Non-cash lease expense

 

 

 

 

 

309

 

 

 

309

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

  Accrued expenses and other current liabilities

 

 

(538

)

 

 

(241

)

 

 

(779

)

Cash flows from financing activities

 

 

 

 

 

 

 

 

 

Other

 

 

(368

)

 

 

135

 

 

 

(233

)

Supplemental disclosure of noncash investing and financing activities:

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease liabilities

 

 

 

 

 

18,634

 

 

 

18,634