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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts shown in the consolidated statements of cash flows:

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Cash and cash equivalents

 

$

108,382

 

 

$

217,431

 

Restricted cash

 

 

1,953

 

 

 

1,274

 

Total cash, cash equivalents and restricted cash

 

$

110,335

 

 

$

218,705

 

 

Impact of Adoption of Previously Reported Amounts of Financial Statement

 

 

 

January 1, 2020
(in thousands)

 

 

 

Prior to adoption
of new leasing
standards

 

 

Adjustment for
adoption
of new leasing
standards

 

 

As Adjusted

 

Right-of-use assets (1)(2)

 

$

 

 

$

6,835

 

 

$

6,835

 

Deferred rent (2)

 

$

1,313

 

 

$

(1,313

)

 

$

 

Deferred rent, net of current portion (2)

 

$

9,544

 

 

$

(9,544

)

 

$

 

Operating lease liabilities (3)

 

$

 

 

$

2,251

 

 

$

2,251

 

Operating lease liabilities, net of current portion (3)

 

$

 

 

$

15,441

 

 

$

15,441

 

 

 

 

 

 

 

 

 

 

 

(1) Represents capitalization of operating right-of-use assets

 

(2) Represents reclassification of deferred rent and incentives as a reduction to operating right-of-use assets

 

(3) Represents recognition of operating lease liabilities

 

Schedule of Estimated Useful Life of Asset

 

Computer equipment and software

 

3 years

Laboratory equipment and office furniture

 

5 years

Manufacturing equipment

 

5 - 7 years

Leasehold improvements

 

Shorter of the lease term
or estimated useful life