XML 27 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES    
Net loss $ (71,169) $ (32,775)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 25,927 7,348
Depreciation and amortization 2,558 1,606
Net amortization of premium on available-for-sale securities 1,197 261
Non-cash interest expense and other adjustments 0 10
Non-cash operating lease expense 1,005 0
Changes in operating assets and liabilities:    
Accounts receivable, net (2,495) 0
Related party receivables (1,184) 0
Other receivables (203) 64
Prepaid expenses and other current assets (2,884) 8
Inventory (3,594) (551)
Other assets (94) (7)
Accounts payable 1,603 912
Deferred revenue 126 75
Deferred rent 0 242
Accrued expenses 2,277 2,036
Accrued research and development 627 (254)
Operating lease liabilities 91 0
Other noncurrent liabilities (135) 197
Net cash used in operating activities (46,347) (20,828)
INVESTING ACTIVITIES    
Purchases of property and equipment (6,922) (4,534)
Purchase of available-for-sale securities (279,956) (87,724)
Proceeds from maturities of available-for-sale securities 116,000 57,750
Investment in equity method investee 0 (50)
Net cash used in investing activities (170,878) (34,558)
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) (13)
Proceeds from exercise of Class A common stock options including early exercised options 1,885 1,265
Proceeds from issuance of common stock in connection with employee stock purchase plan 422 0
Proceeds from issuance of Series D-1 convertible preferred stock, net of issuance costs 0 54,896
Proceeds from issuance of Class A common stock upon initial public offering, net of issuance costs 0 185,063
Proceeds of issuance of Class A common stock in private placement 0 130,275
Net cash provided by financing activities 116,634 371,486
Net increase (decrease) in cash, cash equivalents and restricted cash (100,591) 316,100
Cash, cash equivalents and restricted cash, beginning of period 333,928 17,828
Cash, cash equivalents and restricted cash, end of period 233,337 333,928
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes 645 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Lease liability obtained in exchange for right-of-use assets 23,232 0
Conversion of convertible preferred stock into common stock upon initial public offering 0 162,848
Accounts Payable    
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Property and equipment purchases 186 115
Offering costs 0 468
Accrued Liabilities    
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Property and equipment purchases 269 58
Offering costs $ 0 $ 729