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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (56,294) $ (24,601)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash rent expense 275 275
Stock based compensation 9,511 1,479
Depreciation and amortization 247 112
Amortization of premium (discount) on available for sale investments 429 (728)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,044 (3,281)
Other assets 8 (253)
Accounts payable 1,234 1,800
Accrued expenses and other current liabilities 6,004 2,870
Net cash used in operating activities (37,542) (22,327)
Cash flow from investing activities:    
Purchase of investments (183,356) (98,475)
Proceeds from maturities of investments 115,141 63,070
Purchase of property and equipment (42) (46)
Net cash used in investing activities (68,257) (35,451)
Cash flows from financing activities:    
Payments of finance leases (32)  
Proceeds from issuance of common stock upon exercise of stock options 1,235 69
Proceeds from initial public offering, net of stock offering costs   77,827
Proceeds from private placement offering, net of issuance costs 117,628  
Net cash provided by financing activities 118,831 77,896
Net change in cash and cash equivalents 13,032 20,118
Cash, cash equivalents and restricted cash at beginning of period 51,214 24,872
Cash, cash equivalents and restricted cash at end of period 64,246 44,990
Supplemental disclosures of non-cash information:    
Right-of-use assets obtained in exchange for new operating lease liabilities $ 620 878
Right-of-use assets obtained in exchange for new finance lease liabilities   500
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   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   87,816
Acceleration of vesting of stock on initial public offering   $ 856