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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss available to common stockholders $ (23,529) $ (24,645)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 500 452
Loss on equity issuance 4,171 0
Stock-based compensation expense 402 251
Loss on disposal of fixed assets 60 50
Milestone payments to Dynavax 1,000 1,000
Changes in operating assets and liabilities:    
Accounts receivable (1,477) (936)
Inventory (158) 6
Prepaid expenses 1,041 (1,306)
ROU assets 130 38
Trade payables, accrued expenses and other liabilities (2,772) 1,108
Net cash used in operating activities (41,196) (24,003)
Cash flows from investing activities:    
Purchases of property and equipment (216) (451)
Milestone payments to Dynavax (1,000) (1,000)
Cash paid for intellectual property and licenses (205) (63)
Net cash used in investing activities (1,421) (1,514)
Cash flows from financing activities:    
Proceeds from the issuance of preferred stock 9,189 3,499
Refundable prepayments for Series B-2 preferred stock 0 3,986
Proceeds from exercise of preferred stock warrants 9,630 0
Proceeds from Business Combination 36,854 0
Offering costs related to Business Combination (1,116) 0
Payments on finance lease liabilities (65) (4)
Cash proceeds from the exercise of stock options 94 73
Net cash provided by financing activities 54,586 7,554
Increase (decrease) in cash, cash equivalents and restricted cash 11,969 (17,963)
Cash, cash equivalents and restricted cash, beginning of period 9,664 30,301
Cash, cash equivalents and restricted cash, end of period 21,633 12,338
Supplemental disclosure of noncash items:    
Transfer of warrant liability to preferred stock upon exercise of warrants 25,409 0
Tranche and warrant liability    
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of derivative liability (660) (21)
Contingent earnout liability    
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of derivative liability $ (19,904) $ 0