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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net loss $ (51,430) $ (19,839)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 19,256 2,564
Depreciation and amortization 1,722 1,132
Net amortization of premium on available-for-sale securities 819 185
Non-cash interest expense and other adjustments 0 10
Changes in operating assets and liabilities:    
Accounts receivable, net (1,165) 0
Related party receivables (604) 0
Other receivables (513) (330)
Prepaid expenses and other current assets (2,114) (128)
Inventory (2,006) 0
Other assets (52) (18)
Accounts payable 302 (60)
Deferred revenue (139) 250
Deferred rent 870 256
Accrued expenses 919 738
Accrued research and development 231 (133)
Other noncurrent liabilities (74) 30
Net cash used in operating activities (33,978) (15,343)
INVESTING ACTIVITIES    
Purchases of property and equipment (5,588) (4,407)
Purchase of available-for-sale securities (169,801) (75,624)
Proceeds from maturities of available-for-sale securities 92,000 40,250
Investment in equity method investee 0 (50)
Net cash used in investing activities (83,389) (39,831)
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 (35) (6)
Proceeds from stock option exercises including early exercised options 1,038 578
Proceeds from issuance of Series D-1 preferred stock, net of issuance costs 0 54,896
Payments of deferred offering costs 0 (73)
Net cash provided by financing activities 115,365 55,395
Net increase (decrease) in cash, cash equivalents and restricted cash (2,002) 221
Cash, cash equivalents and restricted cash, beginning of period 333,928 17,828
Cash, cash equivalents and restricted cash, end of period 331,926 18,049
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes 605 0
Accounts Payable    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases 183 20
Deferred offering costs 0 90
Accrued Expenses    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases 271 0
Deferred offering costs $ 0 $ 1,006