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Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (20,321) $ (61,724)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Stock-based compensation expense 2,843 2,136
Depreciation and amortization 604 549
Non-cash lease expense 160 25
Net amortization of discounts on marketable securities 305 574
Changes in operating assets and liabilities    
Prepaid expenses and other assets (1,884) (1,143)
Other assets 47 316
Accounts payable 946 1,070
Accrued liabilities (1,645) 49,359
Deferred revenue (5,906) (9,007)
Operating lease liabilities (387) (232)
Net cash used in operating activities (25,238) (18,077)
Cash flows from investing activities    
Purchases of property and equipment 597 45
Purchases of marketable securities (10,505) (82,956)
Maturities of marketable securities 40,367 43,101
Net cash provided by (used in) investing activities 30,459 (39,900)
Cash flows from financing activities    
Proceeds from follow-on offering, net of issuance costs 0 107,581
Proceeds from issuance of common stock in connection with employee benefit plans 830 561
Net cash provided by financing activities 830 108,142
Net increase in cash, cash equivalents, and restricted cash 6,051 50,165
Cash, cash equivalents, and restricted cash at beginning of period 45,360 21,637
Cash, cash equivalents, and restricted cash at end of period 51,411 71,802
Supplemental disclosures of non-cash investing and financing information    
Purchases of property and equipment included in accrued liabilities and accounts payable 675 0
Reclassification of employee stock liability to equity upon vesting $ 3 $ 6