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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (25,348) $ (16,428)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,113 1,325
Depreciation and amortization 41 20
Amortization/accretion on short-term investments (22) 33
Changes in the fair value of performance award (389) 363
Non-cash lease expense 241  
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 905 (2,457)
Accounts payable and accrued expenses 1,726 (1,164)
Operating lease liabilities (222)  
Other current and long-term liabilities   18
Net cash used in operating activities (20,955) (18,290)
Cash flows from investing activities    
Purchase of property and equipment (68) (31)
Purchase of available-for-sale short-term investments (15,922) (26,989)
Proceeds from maturities of available-for-sale short-term investments 30,500  
Net cash provided by (used in) investing activities 14,510 (27,020)
Cash flows from financing activities    
Proceeds from initial public offering, net of offering costs   84,639
Proceeds from issuance of common stock in connection with equity plans 49 187
Net cash provided by financing activities 49 132,065
Net (decrease) increase in cash and cash equivalents (6,396) 86,755
Cash and cash equivalents, beginning of period 124,660 53,613
Cash and cash equivalents, end of period 118,264 140,368
Supplemental cash flow information:    
Right-of-use assets obtained in exchange for lease obligations $ 1,524  
Property and equipment in accounts payable   10
Accrued deferred initial public offering costs   30
Series B convertible preferred stock    
Cash flows from financing activities    
Proceeds from issuance of Series B convertible preferred stock, net of issuance costs   $ 47,239