Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities:    
Net loss $ (30,990) $ (15,649)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,504 1,540
Issuance of common shares - Founders Agreement 213 887
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (202) 960
Other receivables - related party (1) (135)
Accounts payable and accrued expenses (1,361) 2,032
Net cash used in operating activities (30,837) (10,365)
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock - At-the-market offering 8,910 35,614
Offering costs for the issuance of common stock - At-the-market offering (223) (897)
Net settlement of shares withheld for payment of employee taxes (1,698)  
Net cash provided by financing activities 6,989 34,717
Net (decrease) increase in cash and cash equivalents (23,848) 24,352
Cash and cash equivalents at beginning of period 54,735 40,772
Cash and cash equivalents at end of period 30,887 65,124
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement $ 6,598 $ 4,617