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Unaudited Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (8,490) $ (3,873)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 22 3
Loss on disposal of assets 3 0
Stock-based compensation 1,400 4
Noncash interest – related parties 0 206
Amortization (accretion) of premiums/discounts on investments, net (35) 0
Increase in fair value of convertible promissory notes – related parties 0 1,735
Changes in operating assets and liabilities:    
Accounts receivable 7,625 0
Prepaid expenses and other current assets (includes related party amounts of $36 and $0, respectively) (1,789) 0
Accounts payable 37 167
Accrued expenses (includes related party amounts of $(544) and $37, respectively) 698 101
Deferred revenue (112) 0
Net cash used in operating activities (641) (1,657)
Cash flows from investing activities    
Purchases of property and equipment (232) 0
Purchases of short-term investments (142,518) 0
Net cash used in investing activities (142,750) 0
Cash flows from financing activities    
Proceeds from issuance of convertible promissory notes 0 2,500
Proceeds from exercise of vested and unvested common stock options 1,646 4
Proceeds from initial public offering, net of issuance costs 205,010 0
Net cash provided by financing activities 387,203 7,004
Net increase in cash and cash equivalents 243,812 5,347
Cash and cash equivalents – beginning of period 7,813 658
Cash and cash equivalents – end of period 251,625 6,005
Supplemental disclosure of noncash investing and financing activities    
Conversion of convertible preferred stock in connection with initial public offering 202,171 0
Conversion of convertible promissory notes and accrued interest into shares of convertible preferred stock 0 8,674
Vesting of restricted common stock 178 0
Unpaid equity issuance costs 873 39
Unrealized gain (loss) on short-term investments 17 0
Series Seed 2 Convertible Preferred Stock [Member]    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock, net of issuance costs 0 4,500
Series A Convertible Preferred Stock [Member]    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock, net of issuance costs 55,722 0
Series B Convertible Preferred Stock [Member]    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock, net of issuance costs $ 124,825 $ 0