Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net loss	$ (89,880)	$ (62,745)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,001	2,050
Amortization of right-of-use asset	196	195
Transaction related expenses allocated to warrants issued in connection with private placement	5,015
Stock-based compensation expense	8,507	7,479
Change in fair value of warrant liability	(12,465)	(14,117)
Net amortization of premiums and discounts on marketable securities	198	122
Amortization of debt-discount and accretion of deferred debt costs	557	521
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(1,466)	(1,813)
Accounts receivable		7
Contract assets	1,208	(1,308)
Other long-term assets	(726)	(694)
Accounts payable	323	334
Accrued expenses	3,727	1,048
Deferred revenue	(8,556)	(7,111)
Operating lease asset and liabilities	(621)	(539)
Net cash used in operating activities	(91,982)	(76,571)
Investing activities
Purchases of property and equipment	(567)	(1,000)
Purchases of marketable securities		(51,408)
Maturities of marketable securities	30,031
Net cash (used in) provided by investing activities	29,464	(52,408)
Financing activities
Payments on financing and capital lease obligations	(216)	(196)
Proceeds from issuance of common stock through employee benefit plans		157
Proceeds from the issuance of common stock through employee stock purchase plan	109	153
Proceeds from the issuance of common stock through exercise of option	1
Cash and cash equivalents acquired in connection with merger, net of issuance costs paid	14,166
Payment to creditor related to debt modification	(300)
Proceeds from issuance of common stock and accompanying warrants and pre-funded warrants in private placement, net of issuance costs	128,093
Proceeds from issuance of common stock and warrants in public offering, net of issuance costs		70,337
Redemption of fractional shares due to the reverse stock split	(81)
Payment of issuance cost related to out of period offering	(24)	(36)
Net cash (used in) provided by financing activities	141,748	70,415
Net (decrease) increase in cash, cash equivalents and restricted cash	79,230	(58,564)
Cash and cash equivalents, Beginning of period	95,388	177,070
Cash and cash equivalents, End of period	174,618	118,506
Supplemental disclosure of cash flow information:
Cash paid for interest	2,417	2,380
Non-cash investing and financing activities:
Property and equipment received but unpaid as of period end	678	178
Offering costs incurred but unpaid as of period end	$ 10,746	$ 10