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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net loss $ (59,998) $ (36,647)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,212 1,275
Stock-based compensation expense 6,726 4,619
Net amortization of premiums on marketable securities 641 195
Changes in operating assets and liabilities:    
Accounts receivable 2,143 2,000
Unbilled accounts receivable 394 (126)
Prepaid expenses and other current assets 25 1,773
Operating lease assets and liabilities 42 221
Other assets (1,563) 47
Accounts payable 471 622
Accrued expenses and other liabilities 3,448 397
Deferred revenue (2,929) (7,981)
Net cash used in operating activities (49,472) (34,047)
Investing activities    
Purchases of marketable securities (15,166) (51,785)
Maturities of marketable securities 67,784 38,673
Purchases of property and equipment (1,564) (827)
Net cash provided by (used in) investing activities 51,054 (13,939)
Financing activities    
Proceeds from issuance of common stock in connection with follow-on offering, net of issuance costs 0 47,407
Principal payments on capital lease obligations 0 (18)
Proceeds from issuance of common stock under benefit plans, net 3,159 324
Net cash provided by financing activities 3,159 47,713
Net increase (decrease) in cash, cash equivalents and restricted cash 4,741 (273)
Cash, cash equivalents, and restricted cash, beginning of period 36,504 58,144
Cash, cash equivalents, and restricted cash, end of period 41,245 57,871
Supplemental cash flow information    
Cash paid for operating lease liabilities 1,400 0
Non-cash investing and financing activities:    
Property and equipment purchases unpaid at end of period 151 59
Cash and cash equivalents 40,153 56,779
Restricted cash $ 1,092 $ 1,092