v3.23.1
Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
 1 Months Ended 11 Months Ended 12 Months Ended
Jan. 29, 2021
Dec. 31, 2021
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (829)   $ (216,207)
Adjustments to reconcile net loss to net cash used in operating activities:      
Acquired in-process research and development 0 $ 220,454 0
Share-based compensation expense 0 14,851 24,965
Depreciation and amortization 0 34 131
Change in fair value of financial instruments 0 15,782 (3,920)
Deferred tax (2,857)
Changes in operating assets and liabilities:      
Tax incentive receivable 74 (6,796) (11,711)
Prepaid expenses and other assets 681 (16,164) (3,732)
Accounts payable (358) 4,157 6,351
Accrued expenses and other liabilities (589) 12,968 6,261
Other, net (28) 676 173
Net cash used in operating activities (1,049) (135,109) (200,546)
Cash flows from investing activities:      
Cash acquired upon acquisition of Centessa Subsidiaries, net of cash paid 0 63,442 0
Purchase of property and equipment 0 (186) (1,137)
Other, net 0 0 206
Net cash (used in) provided by investing activities 0 63,256 (931)
Cash flows from financing activities:      
Proceeds from the sale of convertible preferred shares, net of issuance costs 0 241,597 0
Proceeds from the sale of ordinary shares in connection with initial public offering, net of issuance costs paid in cash 0 344,136 0
Proceeds from issuance of debt, net of issuance costs 0 73,930 0
Proceeds from option exercises 0 779 718
Other, net 0 (295) (261)
Net cash provided by financing activities 0 660,147 457
Effect of exchange rate on cash and cash equivalents 80 1,822 (418)
Net (decrease) increase in cash and cash equivalents (969) 590,116 (201,438)
Cash and cash equivalents at beginning of period 7,227 4,966 595,082
Cash and cash equivalents at end of period 6,258 595,082 393,644
Supplemental disclosure:      
Interest paid 0 1,483 7,277
Income taxes paid 0 0 1,299
Non-cash investing and financing activities:      
Issuance of ordinary shares to settle outstanding contingent value rights 0 0 39,680
Issuance of ordinary shares upon acquisition of Centessa Subsidiaries 0 262,698 0
Issuance of contingent value rights upon acquisition of Centessa Subsidiaries 0 22,618 0
Issuance of Series A convertible preferred shares 0 6,250 0
Forgiveness of convertible term loan 0 6,199 0
Other, net $ 0 $ (295) $ (261)