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v3.22.1

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2022 | Mar. 31, 2021
Cash flows from operating activities: |  |
Net loss | $ (12,835) | $ (5,927)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Depreciation expense | 256 | 185
Change in fair value of warrant liability | 44 | (4)
Stock-based compensation expense | 1,594 | 185
Other | (9) | (4)
Changes in operating assets and liabilities: |  |
Prepaid expenses and other assets | (1,660) | 15
Accounts payable | (756) | 700
Accrued expenses and other liabilities | (1,834) | (287)
Net cash used in operating activities | (15,200) | (5,137)
Cash flows from investing activities: |  |
Purchases of property and equipment | (599) | (71)
Purchase of marketable securities | (24,899) |
Net cash used in investing activities | (25,498) | (71)
Cash flows from financing activities: |  |
Proceeds from exercise of stock options | 17 | 265
Other |  | (9)
Net cash provided by financing activities | 17 | 87,489
Net (decrease) increase in cash, cash equivalents and restricted cash | (40,681) | 82,281
Cash, cash equivalents and restricted cash at beginning of period | 149,211 | 17,487
Cash, cash equivalents and restricted cash at end of period | 108,530 | 99,768
Supplemental disclosure of cash flow information: |  |
Purchases of property and equipment in accounts payable and accrued expenses and other liabilities | $ 311 |
Remeasurement of right-of-use assets and lease liabilities for lease modification |  | 390
Series D Convertible Preferred Stock |  |
Cash flows from financing activities: |  |
Proceeds from issuance of convertible preferred stock, net of issuance costs |  | 6,982
Series E Convertible Preferred Stock |  |
Cash flows from financing activities: |  |
Proceeds from issuance of convertible preferred stock, net of issuance costs |  | $ 80,251

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