Quarterly report pursuant to Section 13 or 15(d)

Unaudited Interim Condensed Consolidated Statements of Cash Flows

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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities:        
Net income (loss) $ 8,412 $ (24,286) $ (2,600) $ (28,507)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:        
Depreciation and amortization     2,300 266
Stock-based compensation     3,942 4,422
Change in fair value of warrant liabilities (19,266) 14,913 (21,816) 14,913
Realized loss from sales of short term investments 1,576 0 1,712 0
Unrealized foreign exchange gain / losses     (5) 0
Recapitalization costs attributable to warrant liabilities 0 1,742 0 1,742
Loss on disposal of property and equipment     65 0
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     (3,902) (5,745)
Accounts receivable     (4,124) (167)
Other non-current assets     (1,152) (32)
Operating right-of-use assets/lease liabilities     106 18
Accounts payable and accrued expenses     1,275 2,419
Deferred revenue     2,524 848
Net cash used in operating activities     (21,675) (9,823)
Cash Flows From Investing Activities:        
Purchase of property and equipment     (626) (197)
Purchase of short-term investments     (453) (303,163)
Proceeds from sales of short-term investments     208,700 0
Net cash provided by / (used in) investing activities     207,621 (303,360)
Cash Flows From Financing Activities:        
Proceeds from the exercise of common stock options     79 22
Taxes paid related to net share settlement of equity awards     (1,011) 0
Repayment of note payable     0 (1,165)
Proceeds from recapitalization of EIC, net of issuance costs     0 214,988
Proceeds from sale of common stock in PIPE, net of issuance costs     0 119,634
Net cash (used in) / provided by financing activities     (932) 333,479
Effect of foreign exchange rate changes on cash balances     7 0
Net increase in cash and cash equivalents and restricted cash     185,021 20,296
Cash and cash equivalents and restricted cash - beginning     3,225 10,337
Cash and cash equivalents and restricted cash - ending 188,246 30,633 188,246 30,633
Reconciliation to the unaudited interim condensed consolidated balance sheets        
Cash and cash equivalents 186,556 30,003 186,556 30,003
Restricted cash 1,690 630 1,690 630
Total $ 188,246 $ 30,633 188,246 30,633
Supplemental cash flow information        
New leases under ASC 842 entered into during the period     $ 5,871 $ 13