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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 $ (87,518) $ (44,899)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,191 831
Stock-based compensation expense 9,993 4,634
Amortization of operating right-of-use assets 3,351 564
Net amortization of premiums on investments 466 481
Loss on disposal of fixed assets 44 0
Asset impairment charges 213 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,022 (6,370)
Other assets (1,336) 44
Operating lease liabilities 4,414 (307)
Accounts payable 779 4,103
Accrued compensation (1,395) 1,126
Accrued manufacturing expenses 390 (5,613)
Accrued expenses 1,558 3,521
Net cash used in operating activities (66,828) (41,885)
Cash flows from investing activities:    
Purchases of property and equipment (3,858) (3,454)
Proceeds from sale of property and equipment 7 0
Purchases of investments (13,869) (228,531)
Maturities of investments 90,051 21,000
Sales of investments 3,500 17,064
Net cash provided by (used in) investing activities 75,831 (193,921)
Cash flows from financing activities:    
Proceeds from exercise of common stock options 606 953
Proceeds from issuance of common stock related to at-the-market offering, net of commissions and offering expenses 52,117 0
Proceeds from issuance of common stock from Follow-on Offering, net of issuance costs 107,624
Proceeds from issuance of common stock under the Employee Stock Purchase Plan 550 490
Net cash provided by financing activities 160,897 1,443
Effect of exchange rate changes on cash and cash equivalents (712) 30
Net increase (decrease) in cash, cash equivalents and restricted cash 169,188 (234,333)
Cash, cash equivalents and restricted cash, beginning of period 69,856 386,200
Cash, cash equivalents and restricted cash, end of period 239,044 151,867
Supplemental disclosure of cash flow information:    
Cash paid for interest 2 7
Supplemental disclosures of non-cash investing and financing activities:    
Purchases of property and equipment recorded in accounts payable and accrued expenses 529 475
Stock issued for payment of accounts payable 0 10,000
Deferred offering costs included in accounts payable and accrued expenses $ 1 $ 199