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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (45,687) $ (5,972)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 729 633
Stock-based compensation expense 4,858 1,211
Other 529 0
Changes in operating assets and liabilities:    
Tax credit receivable 0 250
Accounts receivable 7,449 3,453
Prepaid expenses and other current assets (328) (6,431)
Other non-current assets 0 (70)
Accounts payable 741 675
Accrued liabilities (1,316) 1,249
Other long-term liabilities (43) 8
Net cash used in operating activities (33,068) (4,994)
Cash flows from investing activities    
Purchase of short-term investments (138,832) (141,035)
Maturity of short-term investments 155,529 23,997
Accretion of short-term investments 0 (32)
Purchase of property and equipment (881) (622)
Net cash provided by/(used in) investing activities 15,816 (117,692)
Cash flows from financing activities    
Proceeds from issuance of common stock upon initial public offering, net of issuance costs 0 153,119
Proceeds from issuance of common stock upon completion of private placement 0 10,000
Proceeds from issuance of Series C preferred stock, net of issuance costs 0 52,019
Proceeds from exercise of stock options 1,741 202
Payment of deferred offering costs (179) 0
Net cash provided by financing activities 1,562 215,340
Net (decrease)/increase in cash and cash equivalents (15,690) 92,654
Cash and cash equivalents at beginning of period 50,882 85,807
Cash and cash equivalents at end of period 35,192 178,461
Supplemental disclosures of noncash investing and financing activities:    
Purchase of property and equipment in accounts payable and accrued liabilities 82 121
Reclassification of restricted stock award liabilities to common stock upon vesting 5 5
Deferred offering costs in accounts payable and accrued liabilities 0 2,245
Net unrealized gain/(loss) on short-term investments $ 2 $ (29)