Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (48,380) $ (3,623)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 451 133
Stock-based compensation expense 3,232 1,528
Accretion of short-term investment discount (90)  
Amortization of debt issuance costs and discount 1,194 937
Change in fair value of warrant liabilities (13,215) (35,378)
Change in fair value of derivative liabilities (1,120) (1,772)
Noncash operating lease expense for right-of-use asset 155 149
Loss on extinguishment of debt 0 2,725
Changes in operating assets and liabilities:    
Prepaid expenses, accounts receivable, inventory, and other (1,729) 1,271
Accounts payable, accrued expenses, other liabilities, and other 2,425 4,990
Net cash used in operating activities (57,077) (29,040)
Cash flows from investing activities:    
Purchase of intangible assets (9) (589)
Purchase of short-term investments (27,380)  
Net cash used in investing activities (27,389) (589)
Cash flows from financing activities:    
Proceeds from common stock issued 47,248 8,027
Payments of offering costs and underwriting discounts and commissions (3,638) (151)
Proceeds from loan payable 5,000 30,000
Payments of loan payable issuance costs (26) (1,253)
Proceeds from employee stock purchase plan issuances 18 22
Repurchase of shares to satisfy tax withholdings 0 (3)
Net cash provided by financing activities 48,602 36,642
Net (decrease) increase in cash, cash equivalents, and restricted cash (35,864) 7,013
Cash, cash equivalents, and restricted cash at beginning of period 104,702 93,314
Cash, cash equivalents, and restricted cash at end of period 68,838 100,327
Supplemental cash flow information:    
Cash paid for interest 3,308 1,569
Cash received for interest 636 18
Noncash financing and investing activities:    
Common stock issued for settlement of senior convertible notes 0 7,452
Purchased intangible assets included in accounts payable and accrued expenses 0 556
Deferred offering and issuance costs included in accounts payable and accrued expenses 0 50
Deferred offering costs reclassified to additional-paid-in capital 77 30
Reclass of warrant liability to additional paid in capital 71 298
Reclass of deferred asset associated with issuance of loan payable to debt discount 206 390
Settlement of liability for exercise of warrants $ 0 $ 805