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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (88,098) $ (98,591)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,666 1,193
Stock-based compensation expense 9,576 8,500
Accretion of premium/discount on marketable securities 184 2,654
Loss on disposal of property and equipment   108
Change in fair value of convertible preferred stock purchase right liability   6,084
Non-cash lease expense 3,225 2,479
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (903) (568)
Accounts payable and accrued expenses 2,768 6,676
Operating lease liabilities (2,596) (1,179)
Deferred revenue (2,162) 15,574
Other long-term liabilities (164) 4
Net cash used in operating activities (76,504) (57,066)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,953) (2,338)
Purchases of marketable securities (180,704) (313,375)
Maturities of marketable securities 240,519 83,512
Net cash provided by (used in) investing activities 57,862 (232,201)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of preferred stock, net   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 503 1,252
Net cash provided by financing activities 503 311,108
Net increase (decrease) in cash (18,139) 21,841
Cash, cash equivalents and restricted cash at beginning of year 28,948 7,107
Cash, cash equivalents and restricted cash at end of period 10,809 28,948
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 9,244 27,383
Restricted cash 1,565 1,565
Total cash, cash equivalents and restricted cash 10,809 28,948
Supplemental schedule of non-cash investing and financing activities:    
Vesting of unvested issued common stock 4 123
Purchases of property and equipment included in accounts payable and accrued liabilities 8 1,021
Deferred offering costs in accounts payable and accrued liabilities 102  
Right of use assets obtained in exchange for operating lease obligations $ 852 $ 14,657