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STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows used in operating activities:    
Net loss $ (56,839) $ (48,165)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 625 359
Noncash lease expense 842 572
Stock-based compensation 12,857 8,123
Amortization of premium and discount on marketable securities, net 1,784  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,557 1,044
Accounts payable (838) 3,327
Accrued expenses and other liabilities 495 (856)
Operating lease liabilities (846) (459)
Net cash used in operating activities (40,363) (36,055)
Cash flows provided by (used in) investing activities:    
Purchases of marketable securities (27,140)  
Proceeds from maturities of marketable securities 87,579  
Purchases of property and equipment (1,710) (1,367)
Net cash provided by (used in) investing activities 58,729 (1,367)
Cash flows provided by financing activities:    
Proceeds from the sale of common stock, net of offering costs   161,424
Proceeds from the issuance of common stock under ESPP 300  
Proceeds from the issuance of common stock in connection with the exercise of stock options 212 808
Net cash provided by financing activities 512 162,232
Net increase in cash and cash equivalents 18,878 124,810
Cash, cash equivalents, and restricted cash at beginning of period 35,872 218,309
Cash, cash equivalents, and restricted cash at end of period 54,750 343,119
Supplemental disclosures:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 928  
Property and equipment in accounts payable 77 $ 386
Unrealized loss on marketable securities $ (1,583)