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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (36,647) $ (34,137)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,275 1,092
Stock-based compensation expense 4,619 3,897
Net amortization of premiums and discounts on marketable securities 195 (86)
Changes in operating assets and liabilities:    
Accounts receivable 2,000  
Unbilled accounts receivable (126) (755)
Prepaid expenses and other current assets 1,773 1,079
Other assets 47 (17)
Accounts payable 622 1,436
Accrued expenses and other liabilities 397 9
Deferred revenue (7,981) (1,669)
Deferred rent and deferred lease incentive (221) (174)
Net cash used in operating activities (34,047) (29,325)
Investing activities    
Purchases of marketable securities (51,785) (72,653)
Maturities of marketable securities 38,673 16,800
Purchases of property and equipment (827) (777)
Net cash used in investing activities (13,939) (56,630)
Financing activities    
Proceeds from issuance of common stock in connection with private placement, net of placement agent fees and offering costs   64,368
Proceeds from issuance of common stock in connection with follow-on offering, net of issuance costs 47,407  
Principal payments on capital lease obligations (18) (24)
Proceeds from issuance of common stock under benefit plans, net 324 809
Net cash provided by financing activities 47,713 64,960
Net decrease in cash, cash equivalents and restricted cash (273) (20,995)
Cash, cash equivalents, and restricted cash, beginning of period 58,144 97,805
Cash, cash equivalents, and restricted cash, end of period 57,871 76,810
Supplemental cash flow information    
Cash paid for interest   1
Non-cash investing and financing activities:    
Property and equipment purchases unpaid at end of period 59 54
Public offering costs unpaid at end of period   158
Cash and cash equivalents 56,779 75,718
Restricted cash $ 1,092 1,092
IPO    
Financing activities    
Payment of initial public offering costs   $ (193)