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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net loss $ (35,005) $ (14,983)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization expense 44 29
Stock-based compensation expense 2,659 958
Amortization of premium and accretion of discounts on short-term investments, net 50 2
Changes in operating assets and liabilities:    
Prepaid and other current assets 2,072 (7,949)
Operating lease right-of-use asset and liability, net (3) 21
Other assets (167) 52
Accounts payable (4,037) 3,079
Accrued research and development 1,491 2,475
Other accrued liabilities (1,646) 566
Net cash used in operating activities (34,542) (15,750)
Investing activities    
Purchases of short-term investments (17,140) (46,636)
Purchases of property and equipment   (43)
Maturities of short-term investments 69,900  
Net cash provided by (used in) investing activities 52,760 (46,679)
Financing Activities    
Proceeds from initial public offering   121,494
Proceeds from the issuance of common stock under the Company's equity incentive plans and employee stock purchase plan 411 85
Net cash provided by financing activities 411 121,579
Net increase in cash and cash equivalents 18,629 59,150
Cash and cash equivalents at beginning of period 24,780 58,863
Cash and cash equivalents at end of period $ 43,409 118,013
Supplemental schedule of non-cash investing and financing activities:    
Conversion of convertible preferred stock to common stock   $ 94,697