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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net (loss) income $ (3,838) $ 223
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 18 23
Equity-based compensation 1,001 98
Amortization of right-of-use assets 38  
Amortization of debt issuance costs   22
Amortization of debt discount   260
Change in the fair value of the derivative liability   (1,063)
Gain on debt extinguishment   (443)
Changes in operating assets and liabilities:    
Grant receivables (995) (1,111)
Prepaid expenses and other current assets (132) 305
Other receivables 467 (63)
Other assets (1,417)  
Accounts payable (171) 953
Accrued expenses (368) 277
Other current liabilities 1 (253)
Deferred grant income, current 563  
Other noncurrent liabilities 1,865  
Operating lease liabilities (20)  
Net cash used in operating activities (2,988) (772)
Cash flows from investing activities:    
Payments for property and equipment (134)  
Net cash used in investing activities (134)  
Cash flows from financing activities:    
Proceeds from the exercise of common stock options 303 14
Payments on loan payable (394)  
Proceeds from issuance of Simple Agreements for Future Equity   8,942
Net cash (used in) provided by financing activities (91) 8,956
Effect of exchange rate changes on cash and cash equivalents 1  
Net (decrease) increase in cash and cash equivalents (3,212) 8,184
Cash and cash equivalents    
Cash and cash equivalents-beginning of period 54,721 5,189
Cash and cash equivalents-end of period $ 51,509 13,373
Supplemental disclosures of non-cash financing activities:    
Accrued issuance costs related to Simple Agreements for Future Equity   31
Deferred offering costs included in accounts payable and accrued expenses   $ 372