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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Net loss $ (69,204) $ (52,892)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of premium on marketable securities 1,270 497
Depreciation and amortization 996 1,123
Stock-based compensation expense 9,952 8,686
Loss on disposal of capital equipment 0 0
Gain (loss) on foreign currency translation 258 (249)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,764) (965)
Accounts payable, accrued expenses, and other current liabilities 933 2,390
Deferred revenue (3,432) 959
Deferred rent, net of current portion (35) (40)
Net cash used in operating activities (61,026) (40,491)
Investing activities    
Purchase of marketable securities (164,977) (139,334)
Proceeds from maturities of marketable securities 84,385 52,297
Proceeds from sale of equipment 0 0
Purchase of property and equipment (755) (398)
Net cash used in investing activities (81,347) (87,435)
Financing activities    
Proceeds from issuances of common stock under employee stock plans 2,022 1,851
Net cash provided by financing activities 141,482 75,461
Net increase in cash and cash equivalents (891) (52,465)
Cash and cash equivalents at beginning of year 24,918 77,383
Cash and cash equivalents at end of year 24,027 24,918
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 990
Supplemental disclosures of non-cash investing and financing information    
Offering costs included in accounts payable and accrued expenses 20 208
Public Offering    
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 134,770 73,610
At The Market    
Financing activities    
Proceeds from issuance of common stock, net of issuance costs $ 4,690 $ 0