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
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows From Operating Activities:    
Net loss $ (11,845) $ (37,691)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:    
Depreciation and amortization 3,741 457
Stock-based compensation 5,627 8,346
Change in fair value of warrant liabilities (22,241) 18,331
Recapitalization costs attributable to warrant liabilities 0 1,731
Realized loss from sales of short-term investments 2,071 0
Realized foreign exchange loss 7 0
Accretion of interest income on held-to-maturity securities (311) 0
Deferred tax benefit 0 (3,643)
Loss on disposal of property and equipment 197 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (3,781) (3,940)
Accounts receivable (4,461) 39
Other non-current assets (1,059) (116)
Operating right-of-use assets/lease liabilities 196 35
Accounts payable and accrued expenses 4,255 600
Deferred revenue (417) 236
Other (5) 1
Net cash used in operating activities (28,026) (15,614)
Cash Flows From Investing Activities:    
Acquisitions, net of cash acquired (48,101) (23,065)
Investment in joint venture (190) 0
Purchase of property and equipment (719) (264)
Purchase of short-term investments (120,489) (308,772)
Proceeds from sales of short-term investments 248,377 11,300
Net cash provided by / (used in) investing activities 78,878 (320,801)
Cash Flows From Financing Activities:    
Proceeds from the exercise of common stock options 81 142
Taxes paid related to net share settlement of equity awards (1,165) (52)
Repayment of note payable 0 (1,165)
Proceeds from recapitalization of EIC, net of issuance costs 0 215,101
Proceeds from sale of common stock in PIPE, net of issuance costs 0 119,634
Net cash (used in) / provided by financing activities (1,084) 333,660
Effect of foreign exchange rate changes on cash balances (9) 0
Net (decrease) increase in cash and cash equivalents and restricted cash 49,759 (2,755)
Cash and cash equivalents and restricted cash - beginning 3,225 10,337
Cash and cash equivalents and restricted cash - ending 52,984 7,582
Reconciliation to the unaudited interim condensed consolidated balance sheets    
Cash and cash equivalents 51,845 6,952
Restricted cash 1,139 630
Total 52,984 7,582
Supplemental cash flow information    
New leases under ASC 842 entered into during the period $ 5,871 $ 13