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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows used in operating activities:    
Net loss $ (43,551) $ (22,705)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:    
Stock-based compensation expense 9,073 277
Depreciation expense 839 832
Reduction in carrying amount of right-of-use asset 647 600
Accretion of discount on marketable securities 474  
Amortization of debt discount − related party 360 25
Changes in operating assets and liabilities:    
Accounts receivable (1,729) (3,923)
Prepaid expenses and other current and long-term assets (1,181) (1,651)
Accounts payable (1,338) 462
Accrued expenses and other current liabilities 316 (628)
Operating lease liability (508) (429)
Deferred revenue (6,338) (4,120)
Net cash used in operating activities (42,936) (31,260)
Cash flows used in investing activities:    
Proceeds from maturities of marketable securities 209,494  
Purchases of marketable securities (237,622) (103,942)
Purchases of property and equipment (1,168) (75)
Net cash used in investing activities (29,296) (104,017)
Cash flows provided by financing activities:    
Proceeds from follow-on offering, net of issuance costs paid of $10.8 million (Note 10) 169,934  
Proceeds from exercises of stock options 705 232
Payment of initial public offering costs (286)  
Proceeds from the issuance of Series B shares, net of issuance costs of $4.5 million   141,026
Proceeds from long-term debt and warrant − related party, net of issuance costs of $0.5 million   11,973
Repurchase of common stock   (124)
Vested stock option settlement   (727)
Other (3)  
Net cash provided by financing activities 170,350 152,380
Net change in cash, cash equivalents and restricted cash 98,118 17,103
Cash, cash equivalents and restricted cash at beginning of period 184,304 93,126
Cash, cash equivalents and restricted cash at end of period 282,422 110,229
Reconciliation of cash, cash equivalents and restricted cash:    
Cash, cash equivalents and restricted cash at end of period 282,422 110,229
Less: restricted cash (1,276) (2,577)
Cash and cash equivalents at end of the period 281,146 107,652
Supplemental disclosures of cash flow information:    
Cash paid for interest − related party 707 102
Supplemental disclosures of non-cash investing and financing activities:    
Aggregate exercise price of warrant net exercised − related party (Note 10) 3,002  
Follow-on costs in accounts payable and accrued expenses $ 451  
Capital expenditures in accounts payable and accrued expenses   14
Stock option exercises included in prepaid and other current assets   33
Fair value of warrant issued in connection with debt issuance   2,325
Stock option repurchases included in accrued expenses   $ 86