XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.2
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (46,342) $ (48,039)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 765 528
Stock-based compensation expense 5,310 4,132
Accretion of premium/discount on marketable securities 693 1,011
Change in fair value of convertible preferred stock purchase rights liabilities   6,084
Non-cash lease expense 1,838 1,174
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,941) (632)
Accounts payable and accrued expenses (3,087) 4,110
Operating lease liabilities (1,461) (278)
Deferred revenue (870) 11,363
Other long-term liabilities (6) 2
Net cash used in operating activities (45,101) (20,545)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,034) (761)
Purchases of marketable securities (107,433) (247,768)
Maturities of marketable securities 148,444 11,406
Net cash provided by (used in) investing activities 39,977 (237,123)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of preferred stock, net of issuance cost   51,902
Proceeds from initial public offering, net of issuance cost   244,316
Proceeds from issuance of common stock related to stock purchase agreement   13,638
Proceeds from issuance of common stock 359 572
Net cash provided by financing activities 359 310,428
Net (decrease) increase in cash (4,765) 52,760
Cash, cash equivalents and restricted cash at beginning of year 28,948 7,107
Cash, cash equivalents and restricted cash at end of period 24,183 59,867
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 22,618 58,302
Restricted cash 1,565 1,565
Total cash, cash equivalents and restricted cash 24,183 59,867
Supplemental schedule of non-cash investing and financing activities:    
Vesting of early exercised options 4 98
Purchases of property and equipment included in accounts payable and accrued liabilities 98 226
Deferred offering costs in accounts payable and accrued liabilities $ 102  
Right of use assets obtained in exchange for operating lease obligations   $ 14,884