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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net Loss $ (89,945) $ (76,849) $ (36,980)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash rent expense 199 367 367
Stock based compensation 29,853 14,470 2,056
Depreciation and amortization 344 332 188
Amortization of premium / (discount) on available for sale investments 878 635 (812)
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (829) 2,184 (5,324)
Other assets (155) 178 (207)
Accounts payable 1,356 480 2,580
Accrued expenses and other current liabilities (4,633) 7,385 4,855
Net cash used in operating activities (62,932) (50,818) (33,277)
Cash flow from investing activities:      
Purchase of investments (38,789) (187,141) (135,415)
Proceeds from maturities of investments 97,921 134,762 117,723
Purchase of property and equipment (180) (52) (55)
Net cash provided by (used in) investing activities 58,952 (52,431) (17,747)
Cash flows from financing activities:      
Payments of finance leases 0 (34) (559)
Proceeds from issuance of commons stock upon exercise of stock options 6,808 1,282 97
Proceeds from stock warrant exercise 0 0 1
Proceeds from initial public offering, net of stock offering costs 0 0 77,827
Proceeds from private placement offering, net of issuance costs 0 117,628 0
Net cash provided by financing activities 6,808 118,876 77,366
Effect of exchange rate changes on cash 55 0 0
Net increase in cash and cash equivalents 2,883 15,627 26,342
Cash and cash equivalents at beginning of period 66,841 51,214 24,872
Cash and cash equivalents at end of period 69,724 66,841 51,214
Supplemental disclosures of non-cash information:      
Right-of-use assets obtained in exchange for new operating lease liabilities 1,254 620 878
Series A Redeemable Convertible Preferred Stock      
Supplemental disclosures of non-cash information:      
Conversion of redeemable convertible preferred stock to common stock on initial public offering 0 0 17,178
Series B Redeemable Convertible Preferred Stock      
Supplemental disclosures of non-cash information:      
Conversion of redeemable convertible preferred stock to common stock on initial public offering 0 0 87,816
Acceleration of vesting of redeemable convertible preferred stock on initial public offering $ 0 $ 0 $ 856