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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (72,012) $ (19,458)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,016 716
Loss on disposal of property and equipment 4 0
Change in fair value of derivative liability 0 1,581
Change in fair value of profits interest liability 0 (7,625)
Loss (Gain) on extinguishment of debt (690) 2,883
Stock-based compensation 21,307 0
Non-cash interest 0 525
Accrued interest 3 862
Deferred rent (221) (101)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,516) 25
Accounts payable and accrued expenses 10,844 1,307
Deferred revenue 0 (429)
Net cash used in operating activities (41,265) (22,328)
Cash flows from investing activities    
Purchases of property and equipment (835) (195)
Net cash used in investing activities (835) (195)
Cash flows from financing activities    
Noncontrolling interest 0 (19)
Proceeds from issuance of convertible debt 0 2,750
Proceeds from issuance of convertible preferred stock, net of issuance costs 0 72,283
Proceeds from issuance of PPP loan 0 682
Proceeds from initial public offering, net of issuance costs 0 (120)
Payment of initial public offering costs (1,911) 0
Proceeds from issuance of common stock 75,001 0
Proceeds from exercise of stock options 140 0
Proceeds from issuance of common stock under Employee Stock Purchase Plan 190 0
Net cash provided by financing activities 73,420 75,576
Net increase in cash and cash equivalents 31,320 53,053
Cash and cash equivalents, beginning of period 238,605 3,704
Cash and cash equivalents, end of period 269,925 56,757
Supplemental disclosure of non-cash investing and financing activities    
Property and equipment additions included in accounts payable and accrued expenses 8 0
Assumption of profits interest liability by affiliates 0 991
Equity issuance costs included in accounts payable and accrued expenses 3,947 5,082
Carrying value of convertible promissory notes settled in connection with Corporate Reorganization 0 27,711
Fair value of consideration issued in connection with settlement of convertible promissory notes $ 0 $ 30,594