XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (16,215) $ (4,377)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 60 70
Equity-based compensation 2,670 264
Amortization of right-of-use assets 115  
Amortization of debt issuance costs   31
Amortization of debt discount   352
Change in the fair value of the derivative liability   (2,209)
Change in the fair value of the Simple Agreements for Future Equity   1,976
Gain on debt extinguishment   (443)
Changes in operating assets and liabilities:    
Grant receivables (727) (283)
Prepaid expenses and other assets (1,477) (18)
Other receivables 465 264
Accounts payable 3,919 (278)
Accrued expenses 563 258
Deferred grant income, current and other liabilities 2,366 661
Operating lease liabilities (88)  
Net cash used in operating activities (8,349) (3,732)
Cash flows from investing activities:    
Payments for property and equipment (161)  
Net cash used in investing activities (161)  
Cash flows from financing activities:    
Proceeds from the exercise of common stock options 1,595 19
Payments on loan payable (1,191)  
Proceeds from issuance of Simple Agreements for Future Equity   8,942
Proceeds from exercise of stock warrants   34
Deferred offering costs   (2,155)
Net cash provided by financing activities 404 6,840
Effect of exchange rate changes on cash and cash equivalents (5) 13
Net (decrease) increase in cash and cash equivalents (8,111) 3,121
Cash and cash equivalents    
Cash and cash equivalents-beginning of period 54,721 5,189
Cash and cash equivalents-end of period 46,610 8,310
Supplemental disclosures of non-cash financing activities:    
Remeasurement of right-of-use asset and operating lease liability $ 189  
Issuance of Series B-1 Convertible Preferred Stock upon conversion of debt   29,391
Deferred offering costs included in accounts payable   $ 1,055