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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net loss $ (33,045) $ (11,610)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 12,470 1,387
Depreciation and amortization 1,042 701
Net amortization of premium on available-for-sale securities 412 100
Changes in operating assets and liabilities:    
Accounts receivable, net (896) 0
Related party receivables (340) 0
Other receivables (177) (315)
Prepaid expenses and other current assets (2,756) 78
Inventory (2,119) 0
Other assets (16) (48)
Accounts payable (644) (82)
Deferred revenue 195 250
Deferred rent 391 269
Accrued expenses 241 (477)
Accrued research and development 94 (106)
Other noncurrent liabilities (74) 0
Net cash used in operating activities (25,222) (9,853)
INVESTING ACTIVITIES    
Purchases of property and equipment (2,943) (3,542)
Purchase of available-for-sale securities (129,320) (3,437)
Proceeds from maturities of available-for-sale securities 80,000 17,250
Net cash provided by (used in) investing activities (52,263) 10,271
FINANCING ACTIVITIES    
Proceeds from issuance of common stock upon follow-on public offering, net of issuance costs 102,959 0
Proceeds from return of profit 11,403 0
Repurchase of Class A common stock (13) (7)
Proceeds from stock option exercises including early exercised options 407 72
Proceeds from issuance of Series D-1 preferred stock, net of issuance costs 0 54,975
Net cash provided by financing activities 114,756 55,040
Net increase in cash, cash equivalents and restricted cash 37,271 55,458
Cash, cash equivalents and restricted cash, beginning of period 333,928 17,828
Cash, cash equivalents and restricted cash, end of period 371,199 73,286
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes 441 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Convertible preferred stock issuance costs included in accounts payable 0 79
Accounts Payable    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases included in balance sheet locations 246 76
Accrued Liabilities    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases included in balance sheet locations $ 361 $ 3