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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net loss $ (42,813) $ (17,123)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 272 185
Stock-based compensation 4,404 354
Changes in assets and liabilities:    
Prepaid expenses, other assets and other long-term liabilities (2,392) (417)
Accounts payable 2,654 521
Accrued compensation 1,622 842
Accrued other expenses 2,746 1,004
Net cash used in operating activities (33,507) (14,634)
Cash flows from investing activities    
Purchases of marketable securities (288,203) (24,178)
Sales of marketable securities 3,444  
Maturities of marketable securities 43,200  
Purchases of property and equipment (668) (203)
Net cash used in investing activities (242,227) (24,381)
Cash flows from financing activities    
Proceeds from initial public offering of common stock, net of underwriting discounts and commissions and offering costs 186,148  
Payment of preferred stock issuance costs (124)  
Exercise of stock options 112 202
Proceeds from Employee Stock Purchase Plan 248  
Net cash provided by financing activities 186,384 120,278
Net change in cash and cash equivalents (89,350) 81,263
Cash and cash equivalents at beginning of period 104,916 23,653
Cash and cash equivalents at end of period 15,566 104,916
Supplemental disclosures of non-cash financing activities:    
Conversion of convertible preferred stock upon closing of initial public offering $ 160,214  
Deferred offering costs included in accounts payable and accrued other expenses   719
Preferred stock issuance costs included in accrued other expenses   124
Series B-2 preferred stock    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock   25,075
Series C preferred stock    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock   $ 95,001