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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (20,980,000) $ (8,866,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,731,000 974,000
Depreciation expense 154,000 112,000
Non-cash lease expense 45,000 28,000
Amortization of premiums and accretion of discounts on available-for-sale securities, net 140,000 131,000
Changes in operating assets and liabilities:    
Unbilled grant receivable 102,000 (1,606,000)
Prepaid expenses and other current assets 1,141,000 1,914,000
Accounts payable and accrued liabilities 164,000 (374,000)
Operating lease liability (69,000) 382,000
Net cash used in operating activities (16,572,000) (7,305,000)
Investing activities    
Purchases of available-for-sale securities (17,828,000) (93,143,000)
Maturities of available-for-sale securities 42,419,000 70,739,000
Purchases of property and equipment (745,000) (304,000)
Net cash used in investing activities 23,846,000 (22,708,000)
Financing activities    
Proceeds from exercise of common stock options 210,000 39,000
Proceeds from initial public offering, net of issuance costs   97,172,000
Net cash provided by financing activities 210,000 97,211,000
Net increase in cash and cash equivalents 7,484,000 67,198,000
Cash and cash equivalents, beginning of period 110,537,000 60,625,000
Cash and cash equivalents, end of period 118,021,000 127,823,000
Supplemental disclosures of cash flow information:    
Purchases of property and equipment included in accounts payable and accrued liabilities $ 6,000 57,000
Right-of-use asset obtained in exchange for new operating lease liability   $ 518,000