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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (60,492) $ (7,374)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,772 681
Depreciation and amortization 216 185
Non-cash lease expense 143 138
Changes in operating assets and liabilities:    
Unbilled grants receivable 233 (328)
Grants receivable 238 1,735
Prepaid expenses and other current assets (342) (29)
Prepaid research and development 6,803 (99)
Other long term assets (981)  
Accounts payable 5,821 (160)
Accrued expenses and other liabilities 24,283 (138)
Lease liabilities (179) (193)
Net cash used in operating activities (22,485) (5,582)
Investing activities    
Purchase of property and equipment (698) (119)
Net cash used in investing activities (698) (119)
Financing activities    
Proceeds from initial public offering, net of issuance costs 233,348  
Proceeds from stock option exercises 131 5
Net cash provided by financing activities 233,479 5
Net increase in cash and restricted cash 210,296 (5,696)
Cash and restricted cash at beginning of period 173,133 21,604
Cash and restricted cash at end of period 383,429 15,908
Supplemental disclosure of noncash investing and financing activities    
Property and equipment purchases included in accounts payable and accrued expenses and other liabilities 117 $ 73
Deferred initial public offering costs included in accrued expenses and other liabilities $ 802