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Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (37,672) $ (78,487)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Stock-based compensation expense 5,364 4,473
Depreciation and amortization 1,152 1,098
Non-cash lease expense 329 160
Net amortization of discounts on marketable securities 446 1,168
Changes in operating assets and liabilities    
Prepaid expenses and other assets (1,287) (937)
Other assets (10) 382
Accounts payable 125 426
Accrued liabilities (290) 2,500
Deferred revenue (14,209) (14,846)
Operating lease liabilities (789) (580)
Net cash used in operating activities (46,841) (84,643)
Cash flows from investing activities    
Purchases of property and equipment (53) (45)
Purchases of marketable securities (11,509) (100,469)
Maturities of marketable securities 81,402 130,304
Net cash provided by investing activities 69,840 29,790
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 882 748
Proceeds from issuance of common stock, net of issuance cost 0 2,767
Net cash provided by financing activities 882 111,096
Net increase in cash, cash equivalents, and restricted cash 23,881 56,243
Cash, cash equivalents, and restricted cash at beginning of period 45,360 21,637
Cash, cash equivalents, and restricted cash at end of period 69,241 77,880
Supplemental disclosures of non-cash investing and financing information    
Purchases of property and equipment included in accrued liabilities and accounts payable 98 0
Reclassification of employee stock liability to equity upon vesting 6 12
Deferred offering costs included in accounts payable and accrued liabilities $ 0 $ 8