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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (38,986) $ (21,220)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 582 347
Stock-based compensation expense 4,099 1,865
Amortization of operating right-of-use assets 1,787 180
Net amortization of premiums on investments 321 151
Loss on disposal of fixed assets 44  
Asset impairment charges 57  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 2,791 (557)
Other assets (1,577) (441)
Operating lease liabilities 5,619 (105)
Accounts payable (1,933) 2,185
Accrued compensation (2,185) 723
Accrued manufacturing expenses 2,416 2,525
Accrued expenses (737) 1,142
Net cash used in operating activities (27,702) (13,205)
Cash flows from investing activities:    
Purchases of property and equipment (2,920) (1,246)
Proceeds from sale of property and equipment 7  
Purchases of investments (6,972) (172,145)
Maturities of investments 59,551  
Net cash provided by (used in) investing activities 49,666 (173,391)
Cash flows from financing activities:    
Proceeds from follow-on public offering, net of underwriters' commissions and discounts 107,622  
Proceeds from exercise of common stock options 282 487
Proceeds from issuance of common stock related to at-the-market offering, net of issuance costs 3,115  
Net cash provided by financing activities 111,019 487
Effect of exchange rate changes on cash and cash equivalents (227) (281)
Net increase (decrease) in cash, cash equivalents and restricted cash 132,756 (186,390)
Cash, cash equivalents and restricted cash, beginning of period 69,856 386,200
Cash, cash equivalents and restricted cash, end of period 202,612 199,810
Supplemental disclosures of non-cash investing and financing activities:    
Purchases of property and equipment recorded in accounts payable and accrued expenses 664 $ 1,537
Deferred offering costs included in accounts payable and accrued expenses $ 23