☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware | 45-1472564 | |||||
(State or Other Jurisdiction of | (I.R.S. Employer | |||||
Incorporation or Organization) | Identification No.) |
7000 Shoreline Court, Suite 275 | ||||||
South San Francisco, California | 94080 | |||||
(Address of Principal Executive Offices) | (Zip Code) |
Title of each class | Trading | Name of each exchange | |||||||||||||||||
Symbol(s) | on which registered | ||||||||||||||||||
Common Stock, $0.001 par value | TPST | The Nasdaq Capital Market |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||||||||||
Non-accelerated filer | ☒ | Smaller reporting company | ☒ | |||||||||||
Emerging growth company | ☐ |
Page | ||||||||||||
Item 1. | ||||||||||||
Item 1. | ||||||||||||
Item 1A. | ||||||||||||
Item 2. | ||||||||||||
Item 3. | ||||||||||||
Item 4. | ||||||||||||
Item 5. | ||||||||||||
Item 6. | ||||||||||||
(Unaudited) September 30, 2021 | December 31, 2020 | ||||||||||
Assets | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 59,716 | $ | 18,820 | |||||||
Restricted cash | 45 | — | |||||||||
Prepaid expenses and other current assets | 2,796 | 1,005 | |||||||||
Total current assets | 62,557 | 19,825 | |||||||||
Property and equipment — net | 1,116 | 1,110 | |||||||||
Operating lease right-of-use assets | 3,357 | 1,877 | |||||||||
Other noncurrent assets | 112 | 51 | |||||||||
Total assets | $ | 67,142 | $ | 22,863 | |||||||
Liabilities and stockholders’ equity (deficit) | |||||||||||
Current liabilities: | |||||||||||
Accounts payable | $ | 2,380 | $ | 1,071 | |||||||
Accrued expenses | 1,658 | 665 | |||||||||
Current operating lease liabilities | 1,411 | 712 | |||||||||
Accrued compensation | 664 | 695 | |||||||||
Interest payable | 89 | — | |||||||||
Early option exercise liability | 1 | 79 | |||||||||
Total current liabilities | 6,203 | 3,222 | |||||||||
Loan payable (net of discount and issuance costs of $820) | 15,005 | — | |||||||||
Operating lease liabilities | 2,398 | 1,727 | |||||||||
Total liabilities | 23,606 | 4,949 | |||||||||
Commitments and contingencies (Note 8) | 0 | 0 | |||||||||
Convertible preferred stock, $0.001 par value; shares 5,000,000 and 135,936,731 shares authorized at September 30, 2021 and December 31, 2020; NaN and 114,686,731 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively; liquidation preference of $0 and $100,186,832 at September 30, 2021 and December 31, 2020, respectively | — | 86,707 | |||||||||
Stockholders’ equity (deficit): | |||||||||||
Common stock, $0.001 par value; 100,000,000 shares and 196,000,000 shares authorized at September 30, 2021 and December 31, 2020; 6,900,731 and 527,265 shares issued and outstanding, 136 and 29,041 subject to repurchase at September 30, 2021 and December 31, 2020, respectively | 7 | 15 | |||||||||
Additional paid-in capital | 135,902 | 2,953 | |||||||||
Accumulated other comprehensive loss | (89) | — | |||||||||
Accumulated deficit | (92,284) | (71,761) | |||||||||
Total stockholders’ equity (deficit) | 43,536 | (68,793) | |||||||||
Total liabilities, convertible preferred stock and stockholders’ equity (deficit) | $ | 67,142 | $ | 22,863 |
(Unaudited) June 30, 2021 | December 31, 2020 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 68,413 | $ | 18,820 | ||||
Restricted cash | 45 | 0 | ||||||
Prepaid expenses and other current assets | 2,036 | 1,005 | ||||||
Total current assets | 70,494 | 19,825 | ||||||
Property and equipment — net | 1,218 | 1,110 | ||||||
Operating lease right-of-use | 3,673 | 1,877 | ||||||
Other noncurrent assets | 112 | 51 | ||||||
Total assets | $ | 75,497 | $ | 22,863 | ||||
Liabilities and stockholders’ equity (deficit) | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 6,695 | $ | 1,071 | ||||
Accrued expenses | 948 | 665 | ||||||
Current operating lease liabilities | 1,484 | 712 | ||||||
Accrued compensation | 540 | 695 | ||||||
Interest payable | 89 | 0 | ||||||
Early option exercise liability | 38 | 79 | ||||||
Total current liabilities | 9,794 | 3,222 | ||||||
Loan payable (net of issuance costs of $85) | 14,915 | 0 | ||||||
Operating lease liabilities | 2,674 | 1,727 | ||||||
Total liabilities | 27,383 | 4,949 | ||||||
Commitments and contingencies (Note 8) | 0 | 0 | ||||||
Convertible preferred stock, $0.001 par value; 5,000,000 and 135,936,731 shares authorized at June 30, 2021 and December 31,2020, respectively; NaN and 114,686,731 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively; liquidation preference of $0 and $100,186,732 at June 30, 2021 and December 31, 2020, respectively | 0 | 86,707 | ||||||
Stockholders’ equity (deficit): | ||||||||
Common stock, $0.001 par value; 100,000,000 and 196,000,000 shares authorized at June 30, 2021 and December 31,2020, respectively; 6,637,081 and 527,265 shares issued and outstanding, 8,767 and 29,041 subject to repurchase at June 30, 2021 and December 31, 2020, respectively | 7 | 15 | ||||||
Additional paid-in capital | 132,281 | 2,953 | ||||||
Accumulated deficit | (84,174 | ) | (71,761 | ) | ||||
Total stockholders’ equity (deficit) | 48,114 | (68,793 | ) | |||||
Total liabilities, convertible preferred stock and stockholders’ equity (deficit) | $ | 75,497 | $ | 22,863 | ||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
Operating expenses: | Operating expenses: | ||||||||||||||||||||||||||||||||||||||
Research and development | $ | 4,229 | $ | 4,094 | $ | 7,821 | $ | 7,121 | Research and development | $ | 4,630 | $ | 4,271 | $ | 12,451 | $ | 11,392 | ||||||||||||||||||||||
General and administrative | 2,556 | 1,144 | 4,091 | 2,420 | General and administrative | 3,106 | 1,163 | 7,197 | 3,583 | ||||||||||||||||||||||||||||||
Loss from operations | 6,785 | 5,238 | 11,912 | 9,541 | Loss from operations | 7,736 | 5,434 | 19,648 | 14,975 | ||||||||||||||||||||||||||||||
Other income (expense): | Other income (expense): | ||||||||||||||||||||||||||||||||||||||
Interest expense | $ | (276 | ) | $ | 0 | $ | (507 | ) | $ | 0 | Interest expense | $ | (437) | $ | — | $ | (944) | $ | — | ||||||||||||||||||||
Interest income and other income (expense), net | 3 | 9 | 6 | 84 | Interest income and other income (expense), net | 63 | 3 | 69 | 87 | ||||||||||||||||||||||||||||||
Net loss | $ | (7,058 | ) | $ | (5,229 | ) | $ | (12,413 | ) | $ | (9,457 | ) | Net loss | $ | (8,110) | $ | (5,431) | $ | (20,523) | $ | (14,888) | ||||||||||||||||||
Net loss per share of common stock, basic and diluted | $ | (7.63 | ) | $ | (11.42 | ) | $ | (17.30 | ) | $ | (21.28 | ) | Net loss per share of common stock, basic and diluted | $ | (1.21) | $ | (11.22) | $ | (7.49) | $ | (31.91) | ||||||||||||||||||
Weighted-average shares of common stock outstanding, basic and diluted | 925,432 | 457,998 | 717,618 | 444,466 | Weighted-average shares of common stock outstanding, basic and diluted | 6,717,655 | 484,085 | 2,739,602 | 466,495 | ||||||||||||||||||||||||||||||
Other comprehensive income (loss): | Other comprehensive income (loss): | ||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | Foreign currency translation adjustment | (89) | — | (89) | — | ||||||||||||||||||||||||||||||||||
Comprehensive loss | Comprehensive loss | $ | (8,199) | $ | (5,431) | $ | (20,612) | $ | (14,888) |
Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Series A Convertible | Series B Convertible | Series B1 Convertible | Additional Paid-In Capital | Deficit Accumulated | Total Stockholders’ Equity (Deficit) | |||||||||||||||||||||||||||||||||||||||
Preferred Stock | Prefer110red Stock | Preferred Stock | Common Stock | |||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||
BALANCE—March 31, 2021 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 72,499,993 | $ | 57,490 | 514,508 | $ | 1 | $ | 3,164 | $ | (77,116 | ) | $ | (73,951 | ) | ||||||||||||||||||||||||
Exercise of stock options | — | — | — | — | — | — | 6,285 | — | 29 | — | 29 | |||||||||||||||||||||||||||||||||
Vesting of early exercised stock options | — | — | — | — | — | — | 8,314 | — | 39 | — | 39 | |||||||||||||||||||||||||||||||||
Conversion of preferred stock to common stock | (17,000,000 | ) | (16,982 | ) | (25,186,738 | ) | (12,235 | ) | (72,499,993 | ) | (57,490 | ) | 3,692,912 | 4 | 86,703 | — | 86,707 | |||||||||||||||||||||||||||
Issuance of common stock for cash | — | — | — | — | — | — | 1,136,849 | 1 | 30,009 | 30,010 | ||||||||||||||||||||||||||||||||||
Share-based compensation | — | — | — | — | — | — | — | — | 411 | — | 411 | |||||||||||||||||||||||||||||||||
Reverse recapitalization transaction costs | — | — | — | — | — | — | — | — | (6,074 | ) | — | (6,074 | ) | |||||||||||||||||||||||||||||||
Record pre-merger Millendo stockholders’ equity and elimination of Millendo historical accumulated deficit | — | — | — | — | — | — | 1,269,446 | 1 | 18,000 | — | 18,001 | |||||||||||||||||||||||||||||||||
Net loss | — | — | — | — | — | — | — | — | — | (7,058 | ) | (7,058 | ) | |||||||||||||||||||||||||||||||
BALANCE—June 30, 2021 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 6,628,314 | $ | 7 | $ | 132,281 | $ | (84,174 | ) | $ | 48,114 | |||||||||||||||||||||||||
Three Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
Series A Convertible | Series B Convertible | Series B1 Convertible | Additional Paid-In Capital | Deficit Accumulated | Total Stockholders’ Equity (Deficit) | |||||||||||||||||||||||||||||||||||||||
Preferred Stock | Preferred Stock | Preferred Stock | Common Stock | |||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||
BALANCE—March 31, 2020 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 72,499,993 | $ | 57,490 | 440,292 | $ | 0 | $ | 2,315 | $ | (56,781 | ) | $ | (54,466 | ) | ||||||||||||||||||||||||
Vesting of early exercised stock options | — | — | — | — | — | — | 36,675 | 0 | 103 | — | 103 | |||||||||||||||||||||||||||||||||
Share-based compensation | — | — | — | — | — | — | — | — | 227 | — | 227 | |||||||||||||||||||||||||||||||||
Net loss | — | — | — | — | — | — | — | — | — | (5,229 | ) | (5,229 | ) | |||||||||||||||||||||||||||||||
BALANCE—June 30, 2020 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 72,499,993 | $ | 57,490 | 476,967 | $ | 0 | $ | 2,645 | $ | (62,010 | ) | $ | (59,365 | ) | ||||||||||||||||||||||||
Series A Convertible Preferred Stock | Series B Convertible Preferred Stock | Series B-1 Convertible Preferred Stock | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Loss | Deficit Accumulated | Total Stockholders' Equity (Deficit) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE — June 30, 2021 | — | $ | — | — | $ | — | — | $ | — | 6,628,314 | $ | 7 | $ | 132,281 | $ | — | $ | (84,174) | $ | 48,114 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | — | — | — | — | — | — | (89) | — | (89) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | — | — | — | — | — | — | 15,226 | — | 48 | — | — | 48 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting of early exercised stock options | — | — | — | — | — | — | 8,631 | — | 37 | — | — | 37 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock for cash, net of issuance cost of $349 | — | — | — | — | — | — | 248,424 | — | 3,513 | — | — | 3,513 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | — | — | — | — | — | — | — | — | 296 | — | — | 296 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse recapitalization transaction costs | — | — | — | — | — | — | — | — | (346) | — | — | (346) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock warrants | 73 | — | — | 73 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | — | — | — | — | — | — | — | (8,110) | (8,110) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE — September 30, 2021 | — | $ | — | — | $ | — | — | $ | — | 6,900,595 | $ | 7 | $ | 135,902 | $ | (89) | $ | (92,284) | $ | 43,536 |
Series A Convertible Preferred Stock | Series B Convertible Preferred Stock | Series B-1 Convertible Preferred Stock | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Loss | Deficit Accumulated | Total Stockholders' Equity (Deficit) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE — June 30, 2020 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 72,499,993 | $ | 57,490 | 476,967 | $ | — | $ | 2,645 | $ | — | $ | (62,010) | $ | (59,365) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | — | — | — | — | — | — | 2,618 | — | 13 | — | — | 13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting of early exercised stock options | — | — | — | — | — | — | 8,708 | — | 37 | — | — | 37 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | — | — | — | — | — | — | — | — | 92 | — | — | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | — | — | — | — | — | — | — | (5,431) | (5,431) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE — September 30, 2020 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 72,499,993 | $ | 57,490 | 488,293 | $ | — | $ | 2,787 | $ | — | $ | (67,441) | $ | (64,654) |
Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Series A Convertible | Series B Convertible | Series B1 Convertible | Additional Paid-In Capital | Deficit Accumulated | Total Stockholders’ Equity (Deficit) | |||||||||||||||||||||||||||||||||||||||
Preferred Stock | Preferred Stock | Preferred Stock | Common Stock | |||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||
BALANCE—December 31, 2020 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 72,499,993 | $ | 57,490 | 498,224 | $ | 1 | $ | 2,967 | $ | (71,761 | ) | $ | (68,793 | ) | ||||||||||||||||||||||||
Exercise of stock options | — | — | — | — | — | — | 10,654 | — | 49 | — | 49 | |||||||||||||||||||||||||||||||||
Vesting of early exercised stock options | — | — | — | — | — | — | 20,229 | — | 96 | — | 96 | |||||||||||||||||||||||||||||||||
Conversion of preferred stock to common stock | (17,000,000 | ) | (16,982 | ) | (25,186,738 | ) | (12,235 | ) | (72,499,993 | ) | (57,490 | ) | 3,692,912 | 4 | 86,703 | — | 86,707 | |||||||||||||||||||||||||||
Issuance of common stock for cash | — | — | — | — | — | — | 1,136,849 | 1 | 30,009 | — | 30,010 | |||||||||||||||||||||||||||||||||
Share-based compensation | — | — | — | — | — | — | — | — | 531 | — | 531 | |||||||||||||||||||||||||||||||||
Reverse recapitalization transaction costs | — | — | — | — | — | — | — | — | (6,074 | ) | — | (6,074 | ) | |||||||||||||||||||||||||||||||
Record pre-merger Millendo stockholders’ equity and elimination of Millendo historical accumulated deficit | — | — | — | — | — | — | 1,269,446 | 1 | 18,000 | — | 18,001 | |||||||||||||||||||||||||||||||||
Net loss | — | — | — | — | — | — | — | — | — | (12,413 | ) | (12,413 | ) | |||||||||||||||||||||||||||||||
BALANCE—June 30, 2021 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 6,628,314 | $ | 7 | $ | 132,281 | $ | (84,174 | ) | $ | 48,114 | |||||||||||||||||||||||||
Six Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
Series A Convertible | Series B Convertible | Series B1 Convertible | Additional Paid-In Capital | Deficit Accumulated | Total Stockholders’ Equity (Deficit) | |||||||||||||||||||||||||||||||||||||||
Preferred Stock | Preferred Stock | Preferred Stock | Common Stock | |||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||
BALANCE—December 31, 2019 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 28,749,997 | $ | 22,755 | 410,429 | $ | — | $ | 2,188 | $ | (52,553 | ) | $ | (50,365 | ) | ||||||||||||||||||||||||
Exercise of options—net of | — | — | — | — | — | — | 6,132 | — | 27 | — | 27 | |||||||||||||||||||||||||||||||||
Issuance of preferred stock for cash—net of issuance costs of $265 | — | — | — | — | 43,749,996 | 34,735 | — | — | — | — | — | |||||||||||||||||||||||||||||||||
Vesting of early exercised stock options | — | — | — | — | — | — | 60,406 | — | 200 | — | 200 | |||||||||||||||||||||||||||||||||
Share-based compensation | — | — | — | — | — | — | — | — | 230 | — | 230 | |||||||||||||||||||||||||||||||||
Net loss | — | — | — | — | — | — | — | — | — | (9,457 | ) | (9,457 | ) | |||||||||||||||||||||||||||||||
BALANCE—June 30, 2020 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 72,499,993 | $ | 57,490 | 476,967 | $ | — | $ | 2,645 | $ | (62,010 | ) | $ | (59,365 | ) | ||||||||||||||||||||||||
Series A Convertible Preferred Stock | Series B Convertible Preferred Stock | Series B-1 Convertible Preferred Stock | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Loss | Deficit Accumulated | Total Stockholders' Equity (Deficit) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE — December 31, 2020 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 72,499,993 | $ | 57,490 | 498,224 | $ | 1 | $ | 2,967 | $ | — | $ | (71,761) | $ | (68,793) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | (89) | (89) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | — | — | — | — | — | — | 25,880 | — | 98 | — | — | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting of early exercised stock options | — | — | — | — | — | — | 28,860 | — | 132 | — | — | 132 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of preferred stock to common stock | (17,000,000) | (16,982) | (25,186,738) | (12,235) | (72,499,993) | (57,490) | 3,692,912 | 4 | 86,703 | — | — | 86,707 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock for cash, net of issuance cost of $349 | — | — | — | — | — | — | 1,385,273 | 1 | 33,522 | — | — | 33,523 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | — | — | — | — | — | — | — | — | 827 | — | — | 827 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse recapitalization transaction costs | — | — | — | — | — | — | — | — | (6,420) | — | — | (6,420) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock to Millendo shareholders | — | — | — | — | — | — | 1,269,446 | 1 | 18,000 | — | — | 18,001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock warrants | 73 | — | — | 73 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | — | — | — | — | — | — | — | (20,523) | (20,523) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE — September 30, 2021 | — | $ | — | — | $ | — | — | $ | — | 6,900,595 | $ | 7 | $ | 135,902 | $ | (89) | $ | (92,284) | $ | 43,536 |
Series A Convertible Preferred Stock | Series B Convertible Preferred Stock | Series B-1 Convertible Preferred Stock | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Loss | Deficit Accumulated | Total Stockholders' Equity (Deficit) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE — December 31, 2019 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 28,749,997 | $ | 22,755 | 410,429 | $ | — | $ | 2,188 | $ | — | $ | (52,553) | $ | (50,365) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | — | — | — | — | — | — | 8,750 | — | 40 | — | — | 40 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of preferred stock for | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash—net of issuance costs of $265 | — | — | — | — | 43,749,996 | 34,735 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting of early exercised stock options | — | — | — | — | — | — | 69,114 | — | 237 | — | — | 237 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | — | — | — | — | — | — | — | — | 322 | — | — | 322 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | — | — | — | — | — | — | — | (14,888) | (14,888) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE — September 30, 2020 | 17,000,000 | $ | 16,982 | 25,186,738 | $ | 12,235 | 72,499,993 | $ | 57,490 | 488,293 | $ | — | $ | 2,787 | $ | — | $ | (67,441) | $ | (64,654) |
Nine Months Ended September 30, | |||||||||||
2021 | 2020 | ||||||||||
Operating activities: | |||||||||||
Net loss | $ | (20,523) | $ | (14,888) | |||||||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||
Depreciation expense | 272 | 255 | |||||||||
Stock-based compensation expense | 827 | 321 | |||||||||
Noncash lease expense | 589 | 394 | |||||||||
Noncash interest and other expense, net | 516 | (5) | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Prepaid expenses and other current assets | 190 | (947) | |||||||||
Accounts payable | 1,130 | (737) | |||||||||
Accrued expenses and other liabilities | (363) | 631 | |||||||||
Interest payable | 89 | — | |||||||||
Operating lease liabilities | (699) | 233 | |||||||||
Cash used in operating activities | (17,972) | (14,743) | |||||||||
Investing activities: | |||||||||||
Purchase of property and equipment | (108) | (45) | |||||||||
Repayment of note receivable | 38 | 44 | |||||||||
Cash used in investing activities | (70) | (1) | |||||||||
Financing activities: | |||||||||||
Proceeds from issuance of preferred stock | — | 35,000 | |||||||||
Payment of preferred stock issuance costs | — | (469) | |||||||||
Proceeds from the issuance of common stock, net of equity issuance costs of $349 | 33,474 | — | |||||||||
Borrowings on loan payable | 15,000 | — | |||||||||
Payment of loan issuance costs | (93) | — | |||||||||
Cash acquired in connection with the reverse recapitalization | 17,045 | — | |||||||||
Payment of reverse recapitalization transaction costs | (6,420) | — | |||||||||
Proceeds from option exercises | 66 | 38 | |||||||||
Cash provided by financing activities | 59,072 | 34,569 | |||||||||
Effect of exchange rate changes on cash | (89) | — | |||||||||
Net increase in cash and cash equivalents | 40,941 | 19,825 | |||||||||
Cash and cash equivalents and restricted cash at beginning of period | 18,820 | 3,244 | |||||||||
Cash and cash equivalents and restricted cash at end of period | 59,761 | 23,069 | |||||||||
Supplemental disclosure of cash flow information: | |||||||||||
Cash paid for interest | 682 | — | |||||||||
Supplemental schedule of non-cash investing and financing activities: | |||||||||||
Vesting of early exercise stock options | 135 | 239 |
Six Months Ended June 30, | ||||||||
2021 | 2020 | |||||||
Operating activities: | ||||||||
Net loss | $ | (12,413 | ) | $ | (9,457 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Depreciation expense | 165 | 174 | ||||||
Stock-based compensation expense | 531 | 230 | ||||||
Noncash lease expense | 274 | 264 | ||||||
Noncash related party interest income | (4 | ) | (3 | ) | ||||
Noncash interest and other expense | 290 | — | ||||||
Changes in operating assets and liabilities: | ||||||||
Prepaid expenses and other current assets | 987 | (176 | ) | |||||
Accounts payable | 5,445 | (891 | ) | |||||
Accrued expenses and other liabilities | (1,197 | ) | (625 | ) | ||||
Interest payable | 89 | — | ||||||
Operating lease liabilities | (350 | ) | 363 | |||||
Cash used in operating activities | (6,183 | ) | (10,121 | ) | ||||
Investing activities: | ||||||||
Purchase of property and equipment | (84 | ) | (37 | ) | ||||
Repayment of note receivable | 0 | 44 | ||||||
Cash (used in) provided by investing activities | (84 | ) | 7 | |||||
Financing activities: | ||||||||
Proceeds from issuance of preferred stock | 0 | 35,000 | ||||||
Payment of preferred stock issuance costs | 0 | (469 | ) | |||||
Proceeds from the issuance of common stock | 30,010 | 0 | ||||||
Borrowings on loan payable | 15,000 | — | ||||||
Payment of loan issuance costs | (93 | ) | ||||||
Cash acquired in connection with the reverse recapitalization | 17,045 | — | ||||||
Payment of reverse recapitalization transaction costs | (6,074 | ) | — | |||||
Proceeds from option exercises | 17 | 27 | ||||||
Cash provided by financing activities | 55,905 | 34,558 | ||||||
Net increase in cash and cash equivalents | 49,638 | 24,444 | ||||||
Cash and cash equivalents and restricted cash at beginning of period | 18,820 | 3,244 | ||||||
Cash and cash equivalents and restricted cash at end of period | $ | 68,458 | $ | 27,688 | ||||
Supplemental disclosure of cashflow information: | ||||||||
Cash paid for interest | $ | 383 | $ | — | ||||
Supplemental schedule of non-cash investing and financing activities: | ||||||||
Vesting of early exercise stock options | $ | 95 | $ | 200 | ||||
Computer equipment and software | 3 years | |||||
Furniture and fixtures | 7 years | |||||
Laboratory equipment | 5 years | |||||
Leasehold improvements | Shorter of the useful life of the asset or the life of the lease |
June 30, 2021 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 68,413 | $ | 0 | $ | 0 | $ | 68,413 | ||||||||
Short-term restricted cash | 45 | 0 | 0 | 45 | ||||||||||||
Total assets | $ | 68,458 | $ | 0 | $ | 0 | $ | 68,458 | ||||||||
December 31, 2020 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 18,820 | $ | 0 | $ | 0 | $ | 18,820 | ||||||||
Total assets | $ | 18,820 | $ | 0 | $ | 0 | $ | 18,820 |
September 30, 2021 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Cash and cash equivalents | $ | 59,716 | $ | — | $ | — | $ | 59,716 | |||||||||||||||
Short-term restricted cash | 45 | — | — | 45 | |||||||||||||||||||
Total | $ | 59,761 | $ | — | $ | — | $ | 59,761 | |||||||||||||||
December 31, 2020 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Cash and cash equivalents | $ | 18,820 | $ | — | $ | — | $ | 18,820 | |||||||||||||||
Total | $ | 18,820 | $ | — | $ | — | $ | 18,820 |
September 30, | December 31, | ||||||||||
2021 | 2020 | ||||||||||
Prepaid expenses | $ | 1,300 | $ | 245 | |||||||
Prepaid research and development costs | 795 | 441 | |||||||||
Notes and interest receivable | — | 260 | |||||||||
Other current assets | 701 | 59 | |||||||||
Total | $ | 2,796 | $ | 1,005 |
June 30, 2021 | December 31, 2020 | |||||||
Prepaid expenses | $ | 439 | $ | 245 | ||||
Research tax credit | 304 | 0 | ||||||
Prepaid research and development costs | 569 | 441 | ||||||
Notes and interest receivable | 38 | 260 | ||||||
Other current assets | 686 | 59 | ||||||
$ | 2,036 | $ | 1,005 | |||||
September 30, | December 31, | ||||||||||
2021 | 2020 | ||||||||||
Computer equipment and software | $ | 122 | $ | 85 | |||||||
Furniture and fixtures | 193 | 135 | |||||||||
Lab equipment | 684 | 600 | |||||||||
Leasehold improvements | 840 | 746 | |||||||||
Property and equipment | 1,839 | 1,566 | |||||||||
Less accumulated depreciation | (723) | (456) | |||||||||
Property and equipment—net | $ | 1,116 | $ | 1,110 |
June 30, 202 1 | December 31, 2020 | |||||||
Computer equipment and software | $ | 96 | $ | 85 | ||||
Furniture and fixtures | 142 | 135 | ||||||
Lab equipment | 667 | 600 | ||||||
Leasehold improvements | 934 | 746 | ||||||
Property and equipment | 1,839 | 1,566 | ||||||
Less accumulated depreciation | (621 | ) | (456 | ) | ||||
Property and equipment—net | $ | 1,218 | $ | 1,110 | ||||
September 30, | December 31, | ||||||||||
2021 | 2020 | ||||||||||
Accrued other liabilities | $ | 1,246 | $ | 441 | |||||||
Accrued clinical trial liability | 412 | 224 | |||||||||
$ | 1,658 | $ | 665 |
June 30, 2021 | December 31, 2020 | |||||||
Accrued other liabilities | $ | 838 | $ | 441 | ||||
Accrued clinical trial liability | 110 | 224 | ||||||
$ | 948 | $ | 665 | |||||
Total Commitment | |||||
Year Ending | (in thousands) | ||||
2021 (excluding the nine months ended September 30, 2021) | 393 | ||||
2022 | 1,604 | ||||
2023 | 1,647 | ||||
2024 | 443 | ||||
2025 | — | ||||
Total minimum lease payments | 4,087 | ||||
Less: imputed interest | (278) | ||||
Present value of operating lease obligations | 3,809 | ||||
Less: current portion | (1,411) | ||||
Noncurrent operating lease obligations | 2,398 |
Year Ending | Total Commitment | |||
2021 (excluding the six months ended June 30, 2021) | $ | 786 | ||
2022 | 1,603 | |||
2023 | 1,647 | |||
2024 | 443 | |||
2025 | — | |||
Total minimum lease payments | 4,479 | |||
Less: imputed interest | (321 | ) | ||
Present value of operating lease obligations | 4,158 | |||
Less: current portion | (1,484 | ) | ||
Noncurrent operating lease obligations | $ | 2,674 | ||
December 31, 2020 | |||||||||||||||||||||||||||||||||||
Series | Shares Authorized | Shares Issued and Outstanding | Per Share Liquidation Preference | Aggregate Liquidation Amount | Proceeds Net of Issuance Cost | Net Carrying Value | |||||||||||||||||||||||||||||
Series A | 17,000,000 | 17,000,000 | $ | 1.00 | $ | 17,000 | $ | 16,982 | $ | 16,982 | |||||||||||||||||||||||||
Series B | 25,186,738 | 25,186,738 | 1.00 | 25,187 | 24,943 | 12,235 | |||||||||||||||||||||||||||||
Series B-1 | 93,749,993 | 72,499,993 | 0.80 | 58,000 | 57,489 | 57,489 | |||||||||||||||||||||||||||||
135,936,731 | 114,686,731 | $ | 100,187 | $ | 99,414 | $ | 86,706 |
December 31, 2020 | ||||||||||||||||||||||||
Series | Shares Authorized | Shares Issued and Outstanding | Per Share Liquidation Preference | Aggregate Liquidation Amount | Proceeds Net of Issuance Cost | Net Carrying Value | ||||||||||||||||||
Series A | 17,000,000 | �� | 17,000,000 | $ | 1.00 | $ | 17,000 | $ | 16,982 | $ | 16,982 | |||||||||||||
Series B | 25,186,738 | 25,186,738 | 1.00 | 25,187 | 24,943 | 12,235 | ||||||||||||||||||
Series B-1 | 93,749,993 | 72,499,993 | 0.80 | 58,000 | 57,489 | 57,489 | ||||||||||||||||||
135,936,731 | 114,686,731 | $ | 100,187 | $ | 99,414 | $ | 86,706 | |||||||||||||||||
Weighted- | ||||||||||||
Shares | Average | |||||||||||
Available | Total Options | Exercise | ||||||||||
for Grant | Outstanding | Price | ||||||||||
Balance—January 1, 2021 | 489,797 | 452,165 | $ | 5.35 | ||||||||
Assumed in reverse recapitalization | — | 178,732 | 178.64 | |||||||||
Granted | (186,482 | ) | 186,482 | 20.99 | ||||||||
Exercised | — | (10,654 | ) | 4.60 | ||||||||
Cancelled and forfeited | 5,667 | (6,316 | ) | 18.36 | ||||||||
Balance—June 30, 2021 | 308,982 | 800,409 | 47.70 | |||||||||
Weighted | ||||||||||||||||
Average | Weighted | |||||||||||||||
Remaining | Average | Aggregate | ||||||||||||||
Contractual | Exercise | Intrinsic | ||||||||||||||
Shares | Life (In Years) | Price | Value | |||||||||||||
Options outstanding | 800,409 | 8.46 | $ | 47.70 | $ | 2,594,131 | ||||||||||
Vested and expected to vest | 799,823 | 8.46 | $ | 47.63 | $ | 2,593,281 | ||||||||||
Exercisable | 366,374 | 7.64 | $ | 89.59 | $ | 1,133,181 |
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||
Research and development | $ | 45 | $ | 176 | $ | 122 | $ | 231 | ||||||||
General and administrative | 366 | 51 | 409 | (1 | ) | |||||||||||
$ | 411 | $ | 227 | $ | 531 | $ | 230 | |||||||||
Three months ended June 30, | ||||||||
Numerator: | 2021 | 2020 | ||||||
Net loss | $ | (7,058 | ) | $ | (5,229 | ) | ||
Denominator: | ||||||||
Weighted-average common shares outstanding | 937,300 | 519,112 | ||||||
Less: Weighted-average unvested restricted shares and shares subject to repurchase | (11,868 | ) | (61,114 | ) | ||||
Weighted-average shares used to computing basic and diluted net loss per share | 925,432 | 457,998 | ||||||
Net loss per share attributable to common stockholders—basic and diluted | $ | (7.63 | ) | $ | (11.42 | ) | ||
Six months ended June 30, | ||||||||
2021 | 2020 | |||||||
Numerator: | ||||||||
Net loss | $ | (12,413 | ) | $ | (9,457 | ) | ||
Denominator: | ||||||||
Weighted-average common shares outstanding | 733,679 | 517,825 | ||||||
Less: Weighted-average unvested restricted shares and shares subject to repurchase | (16,061 | ) | (73,359 | ) | ||||
Weighted-average shares used to computing basic and diluted net loss per share | 717,618 | 444,466 | ||||||
Net loss per share attributable to common stockholders—basic and diluted | $ | (17.30 | ) | $ | (21.28 | ) | ||
June 30, 2021 | June 30, 2020 | |||||||
Options to purchase common stock | 795,428 | 386,689 | ||||||
Redeemable convertible preferred stock | 0 | 3,692,909 | ||||||
Unvested restricted common stock | 0 | 393 | ||||||
Common stock warrants | 7,178 | 0 | ||||||
802,606 | 4,079,991 | |||||||
Shares Available for Grant | Total Options Outstanding | Weighted-Average Exercise Price | |||||||||||||||
Balance—January 1, 2021 | 489,797 | 452,165 | $ | 5.35 | |||||||||||||
Assumed in reverse recapitalization | 116,509 | 177,591 | 179.79 | ||||||||||||||
Granted | (232,669) | 232,669 | 19.09 | ||||||||||||||
Exercised | — | (25,871) | 3.77 | ||||||||||||||
Cancelled and forfeited | 95,488 | (100,459) | 107.77 | ||||||||||||||
Balance—September 30, 2021 | 469,125 | 736,095 | 37.47 |
Shares | Weighted Average Remaining Contractual Life (In Years) | Weighted Average Exercise Price | Aggregate Intrinsic Value | ||||||||||||||||||||
Options outstanding | 736,095 | 8.62 | $ | 37.47 | $ | 4,124,738 | |||||||||||||||||
Vested and expected to vest | 735,934 | 8.62 | $ | 37.48 | $ | 4,123,358 | |||||||||||||||||
Exercisable | 306,998 | 8.07 | $ | 72.78 | $ | 1,792,906 |
Expected term (in years) | 5.8 - 6.1 | ||||
Expected volatility | 67% - 68% | ||||
Risk-free interest rate | 0.9% - 1.1% | ||||
Dividends | — | % |
Expected term (in years) | 10.0 | ||||
Expected volatility | 66% - 67% | ||||
Risk-free interest rate | 1.5 | % | |||
Dividends | — | % |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Research and development | $ | 105 | $ | 59 | $ | 227 | $ | 290 | |||||||||||||||
General and administrative | 191 | 32 | 600 | 31 | |||||||||||||||||||
Total | $ | 296 | $ | 91 | $ | 827 | $ | 321 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
Numerator: | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Net loss | $ | (8,110) | $ | (5,431) | $ | (20,523) | $ | (14,888) | |||||||||||||||
Denominator: | |||||||||||||||||||||||
Weighted-average common shares outstanding | 6,721,400 | 521,408 | 2,751,519 | 519,047 | |||||||||||||||||||
Less: Weighted-average unvested restricted shares and shares subject to repurchase | (3,745) | (37,323) | (11,917) | (52,552) | |||||||||||||||||||
Weighted-average shares used to computing basic and diluted net loss per share | 6,717,655 | 484,085 | 2,739,602 | 466,495 | |||||||||||||||||||
Net loss per share attributable to common stockholders—basic and diluted | $ | (1.21) | $ | (11.22) | $ | (7.49) | $ | (31.91) |
September 30, 2021 | September 30, 2020 | ||||||||||
Options to purchase common stock | 736,095 | 384,275 | |||||||||
Redeemable convertible preferred stock | — | 3,692,909 | |||||||||
Unvested restricted common stock | — | 393 | |||||||||
Common stock warrants | 6,036 | — | |||||||||
742,131 | 4,077,577 |
Three Months Ended June 30, | Three Months Ended September 30, | ||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||
Expenses: | Expenses: | ||||||||||||||||||
Research and development | $ | 4,229 | $ | 4,094 | Research and development | $ | 4,630 | $ | 4,271 | ||||||||||
General and administrative | 2,556 | 1,144 | General and administrative | 3,106 | 1,163 | ||||||||||||||
Total expenses | 6,785 | 5,238 | Total expenses | 7,736 | 5,434 | ||||||||||||||
Operating loss | (6,785 | ) | (5,238 | ) | Operating loss | (7,736) | (5,434) | ||||||||||||
Interest expense | (276 | ) | — | Interest expense | (437) | — | |||||||||||||
Interest income and other income, net | 3 | 9 | Interest income and other income, net | 63 | 3 | ||||||||||||||
Provision for income taxes | — | — | Provision for income taxes | — | — | ||||||||||||||
Net loss | $ | (7,058 | ) | $ | (5,229 | ) | Net loss | $ | (8,110) | $ | (5,431) | ||||||||
Three Months Ended September 30, | |||||||||||
2021 | 2020 | ||||||||||
(in thousands) | |||||||||||
Research and development outside services | $ | 3,207 | $ | 3,008 | |||||||
Compensation expense | 617 | 590 | |||||||||
Stock-based compensation expense | 106 | 59 | |||||||||
Consulting and professional services | 418 | 407 | |||||||||
Other expenses | 282 | 207 | |||||||||
Total research and development expense | $ | 4,630 | $ | 4,271 |
Three Months Ended June 30, | ||||||||
2021 | 2020 | |||||||
(in thousands) | ||||||||
Research and development outside services | $ | 2,850 | $ | 2,820 | ||||
Compensation expense | 679 | 539 | ||||||
Stock-based compensation expense | 44 | 176 | ||||||
Consulting and professional services | 425 | 320 | ||||||
Other expenses | 231 | 239 | ||||||
Total research and development expense | $ | 4,229 | $ | 4,094 | ||||
Nine Months Ended | |||||||||||||||||||
Six months ended June 30, 2021 | Six months ended June 30, 2020 | September 30, | |||||||||||||||||
(in thousands) | 2021 | 2020 | |||||||||||||||||
Expenses: | Expenses: | (in thousands) | |||||||||||||||||
Research and development | $ | 7,821 | $ | 7,121 | Research and development | $ | 12,451 | $ | 11,392 | ||||||||||
General and administrative | 4,091 | 2,420 | General and administrative | 7,197 | 3,583 | ||||||||||||||
Total expenses | 11,912 | 9,541 | Total expenses | 19,648 | 14,975 | ||||||||||||||
Operating loss | (11,912 | ) | (9,541 | ) | Operating loss | (19,648) | (14,975) | ||||||||||||
Interest expense | (507 | ) | — | Interest expense | (944) | — | |||||||||||||
Interest income and other income, net | 6 | 84 | Interest income and other income, net | 69 | 87 | ||||||||||||||
Provision for income taxes | — | — | Provision for income taxes | — | — | ||||||||||||||
Net loss | $ | (12,413 | ) | $ | (9,457 | ) | Net loss | $ | (20,523) | $ | (14,888) | ||||||||
Six Months Ended June 30, | ||||||||
2021 | 2020 | |||||||
(in thousands) | ||||||||
Research and development outside services | $ | 4,963 | $ | 4,885 | ||||
Compensation expense | 1,400 | 974 | ||||||
Stock-based compensation expense | 122 | 232 | ||||||
Consulting and professional services | 891 | 556 | ||||||
Other expenses | 445 | 474 | ||||||
Total research and development expense | $ | 7,821 | $ | 7,121 | ||||
Nine Months Ended September 30, | |||||||||||
2021 | 2020 | ||||||||||
(in thousands) | |||||||||||
Research and development outside services | $ | 8,170 | $ | 7,893 | |||||||
Compensation expense | 2,016 | 1,564 | |||||||||
Stock-based compensation expense | 227 | 290 | |||||||||
Consulting and professional services | 1,309 | 963 | |||||||||
Other expenses | 729 | 682 | |||||||||
Total research and development expense | $ | 12,451 | $ | 11,392 |
Nine Months Ended September 30, | |||||||||||||||||||
Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | 2021 | 2020 | ||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||
Cash used in operating activities | $ | (6,183 | ) | $ | (10,121 | ) | Cash used in operating activities | $ | (17,972) | $ | (14,743) | ||||||||
Cash used in provided by investing activities | (84 | ) | 7 | ||||||||||||||||
Cash used in investing activities | Cash used in investing activities | (70) | (1) | ||||||||||||||||
Cash provided by financing activities | 55,905 | 34,558 | Cash provided by financing activities | 59,072 | 34,569 | ||||||||||||||
Effect of exchange rate changes on cash | Effect of exchange rate changes on cash | (89) | — | ||||||||||||||||
Net increase in cash and cash equivalents | $ | 49,638 | $ | 29,444 | Net increase in cash and cash equivalents | $ | 40,941 | $ | 19,825 | ||||||||||
Incorporation by Reference | ||||||||||||||||||||
Exhibit Number | Description of Exhibit | Form | File Number | Exhibit | Filing Date | Filed Herewith | ||||||||||||||
1.1 | 8-K | 001-35890 | 1.1 | 7/23/2021 | ||||||||||||||||
3.1 | 10-Q | 001-35890 | 3.1 | 5/15/2019 | ||||||||||||||||
3.2 | 8-K | 001-35890 | 3.1 | 6/28/2021 | ||||||||||||||||
3.3 | 8-K | 001-35890 | 3.2 | 6/28/2021 | ||||||||||||||||
3.4 | 8-K | 001-35890 | 3.1 | 8/9/2018 | ||||||||||||||||
4.1 | S-3 | 333-257990 | 4.4 | 7/16/2021 | ||||||||||||||||
10.1 | 8-K | 001-35890 | 10.1 | 7/7/2021 | ||||||||||||||||
10.2 | 8-K | 001-35890 | 10.2 | 7/7/2021 | ||||||||||||||||
10.3 | 8-K | 001-35890 | 10.3 | 7/7/2021 | ||||||||||||||||
10.4 | 8-K | 001-35890 | 10.4 | 7/7/2021 | ||||||||||||||||
10.5 | Non-Employee Director Compensation Policy | |||||||||||||||||||
31.1 | X | |||||||||||||||||||
31.2 | X | |||||||||||||||||||
32.1 | X | |||||||||||||||||||
101.SCH | XBRL Taxonomy Extension Schema Document. | X | ||||||||||||||||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document. | X | ||||||||||||||||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document. | X | ||||||||||||||||||
101.LAB | XBRL Taxonomy Extension Label Linkbase Document. | X | ||||||||||||||||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document. | X | ||||||||||||||||||
104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibits 101) | X |