Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Cash flows from operating activities |
|
|
| Net loss |
$ (31,333)
|
$ (17,225)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Gain on forgiveness of payroll protection program loan |
|
(301)
|
| Stock-based compensation |
5,875
|
1,556
|
| Noncash lease expense |
169
|
150
|
| Changes in operating assets and liabilities: |
|
|
| Prepaid and other assets |
(713)
|
(529)
|
| Accounts payable |
816
|
272
|
| Accrued liabilities |
399
|
739
|
| Change in lease liability |
(169)
|
(150)
|
| Deferred grant revenue |
(1,633)
|
(2,007)
|
| Net cash used in operating activities |
(26,589)
|
(17,495)
|
| Cash flows from financing activities |
|
|
| Proceeds from payroll protection loan |
|
301
|
| Proceeds from exercise of stock options and common stock warrants |
617
|
4
|
| Proceeds from the issuance of common stock and common stock warrants, net |
|
113,876
|
| Net cash provided by financing activities |
617
|
114,181
|
| Net increase (decrease) increase in cash and cash equivalents |
(25,972)
|
96,686
|
| Cash and cash equivalents at beginning of period |
116,737
|
20,051
|
| Cash and cash equivalents at end of period |
90,765
|
116,737
|
| Supplemental disclosure of non-cash investing and financing activities: |
|
|
| Cashless exercise of warrants |
$ 1,836
|
|
| Fair value of warrants issued to placement agent |
|
5,325
|
| Gain on forgiveness of payroll protection program loan |
|
301
|
| Payment of 2019 bonus awards with stock options in lieu of cash |
|
$ 415
|