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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net loss $ (170,060) $ (88,045) $ (28,208)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 855 1,010 1,245
Net amortization of premiums and discounts on investments 0 (86) (222)
Stock-based compensation 18,409 7,172 4,872
Other non-cash items 723 148 103
Changes in operating assets and liabilities:      
Accounts receivable 0 0 459
Prepaid expenses and other current assets (2,734) (1,950) 2,179
Other assets (718) (700) 0
Accounts payable 483 942 (3,110)
Accrued expenses 12,570 7,280 (3,569)
Operating lease assets 1,829 1,642 1,771
Operating lease liabilities (1,827) (1,281) (1,883)
Deferred revenue (43) (828) (41,381)
Other liabilities 525 0 0
Net cash used in operating activities (139,988) (74,696) (67,744)
Cash flows from investing activities      
Maturities of marketable securities 0 37,500 27,000
Purchase of marketable securities 0 0 (53,688)
Purchase of property and equipment (648) (473) (605)
Net cash (used in) provided by investing activities (648) 37,027 (27,293)
Cash flows from financing activities      
Proceeds from exercise of stock options 1,837 3,138 175
Proceeds from purchases of common stock under ESPP 640 561 489
Payment of employee tax obligations related to vesting of restricted stock units (259) 0 0
Proceeds from issuance of debt, net of issuance costs 24,042 (197) 4,965
Repayment of debt (5,486) 0 0
Payments under finance lease obligations (215) (116) (87)
Net cash provided by financing activities 63,646 230,412 97,704
Increase (decrease) in cash, cash equivalents and restricted cash (76,990) 192,743 2,667
Cash, cash equivalents and restricted cash, beginning of period 255,415 62,672 60,005
Cash, cash equivalents and restricted cash, end of period 178,425 255,415 62,672
Supplemental disclosures of non-cash activities:      
Fair value of common stock retired in exchange for issuance of common stock warrant 0 0 8,986
Purchases of property and equipment in accounts payable and accrued expenses 0 102 0
Debt financing costs in accrued expenses 0 0 180
Cash paid for interest 429 234 132
Right-of-use assets obtained in exchange for operating lease liabilities 3,783 9,980 4,369
Right-of-use assets obtained in exchange for financing lease liabilities 609 0 429
Public Stock Offering      
Cash flows from financing activities      
Net proceeds from issuance of common stock 0 163,990 92,162
At Market Equity Offering Program      
Cash flows from financing activities      
Net proceeds from issuance of common stock $ 43,087 $ 63,036 $ 0