Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (110,218) $ (92,287)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,253 50
Common stock issued to acquire in-process research and development 3,000
Stock-based compensation 10,914 7,899
Changes in operating assets and liabilities:    
Prepaid expenses (164) 518
Accounts payable (1,045) 3,526
Lease liabilities and ROU asset, net 2 (11)
Accrued expenses and other current liabilities 1,205 1,748
Net cash used in operating activities (98,053) (75,557)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (48,147) (35,307)
Net cash used in investing activities (48,147) (35,307)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 2
Proceeds from ESPP 40 96
Proceeds, net of $6,659 expenses, from sale of convertible redeemable preferred stock 40,591
Redemption of convertible redeemable preferred stock (47,250)
Proceeds, net of $3,078 and $10,505 expenses, from sale of common stock and warrants 94,463 212,389
Net cash provided by financing activities 87,844 212,487
Effect of currency rate change on cash (74) (31)
Net (decrease) increase in cash, cash equivalents and restricted cash (58,430) 101,592
Cash, cash equivalents and restricted cash beginning of the period 178,900 77,308
Cash, cash equivalents and restricted cash end of period 120,470 178,900
Supplemental disclosures of cash flow information:    
Purchases of property and equipment included in accounts payable and accrued liabilities 3,092 6,730
Preferred stock deemed dividend $ 6,659