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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (125,596) $ (67,254)
Adjustment to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 14,037 7,765
Depreciation expense 205 52
Amortization of premium on investments 2,186 1,725
Noncash rent expense 2,012 548
Gain on sale of investments (10) (24)
Other non-cash items (5) 0
Loss on disposal of property and equipment 3 0
Changes in current assets and liabilities:    
Prepaid expenses and other current assets (1,628) (3,439)
Other non-current assets 90 (47)
Accounts payable 1,569 1,069
Accrued expenses and other current liabilities 8,714 8,026
Non-current operating lease liability (1,725) (567)
Net cash used in operating activities (100,148) (52,146)
Cash flows from investing activities:    
Purchases of equipment (2,710) (142)
Proceeds from sales and maturities of investments 182,831 90,928
Purchases of investments (49,508) (372,477)
Net cash used in investing activities 130,613 (281,691)
Cash flows from financing activities:    
Proceeds from exercise of common stock options and ESPP 729 1,100
Proceeds from initial public offering, net of issuance costs of $1,275 0 213,844
Net cash provided by financing activities 729 214,944
Net increase (decrease) in cash and cash equivalents 31,194 (118,893)
Cash, cash equivalents and restricted cash, beginning of year 35,828 154,721
Cash, cash equivalents and restricted cash, end of year 67,022 35,828
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents    
Cash and cash equivalents 65,799 34,605
Restricted cash, end of year 1,223 1,223
Cash, cash equivalents and restricted cash, end of year 67,022 35,828
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of preferred stock into common stock upon closing of initial public offering 0 200,573
Right-of-use assets obtained in exchange for operating lease obligation 21,505 8,474
Right-of-use asset derecognized upon early lease termination $ 476 $ 0