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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (51,950) $ (58,378)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,493 1,227
Amortization of debt discount and debt issuance costs 389 167
Loss on disposal of property and equipment 32 24
Equity-based compensation 13,619 10,899
Amortization/accretion of investment securities 291 517
Non-cash operating lease expense 3,382 3,107
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (6,126) (4,355)
Other assets (62)  
Accounts payable (1,394) (1,779)
Accrued expenses 17 1,227
Operating lease liabilities (3,571) (1,937)
Deferred revenue (33,193) (9,303)
Other liabilities (231) 227
Net cash used in operating activities (77,304) (58,357)
Cash flows from investing activities:    
Purchases of property and equipment (920) (3,295)
Purchases of marketable securities (80,134) (30,131)
Maturities of marketable securities 55,000 135,000
Net cash (used in) provided by investing activities (26,054) 101,574
Cash flows from financing activities:    
Proceeds from sale of common shares, pre-funded warrants and warrants to purchase common shares, net of issuance costs 195,770  
Proceeds from stock option exercises 483 3,354
Other   (10)
Net cash provided by financing activities 196,253 3,344
Net increase in cash, cash equivalents and restricted cash 92,895 46,561
Cash, cash equivalents and restricted cash, beginning of period 215,333 162,856
Cash, cash equivalents and restricted cash, end of period 308,228 209,417
Supplemental disclosure of non-cash items:    
Property and equipment purchases in accounts payable and accrued expenses   635
Offering costs in accrued expenses 445  
Supplemental cash flow information:    
Cash paid for interest $ 1,836 $ 992