XML 44 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (97,263) $ (41,533) $ (631)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation expense 1,535 1,310 1,113
Stock-based compensation expense 10,437 3,895 1,829
Noncash lease expense 1,669 0 0
Other 1,262 266 0
Changes in operating assets and liabilities:      
Tax credit receivable 0 250 167
Accounts receivable 7,281 (2,227) (7,052)
Prepaid expenses and other current assets (2,266) (2,756) (1,458)
Other non-current assets 70 (70) 232
Accounts payable 891 922 (1,255)
Accrued liabilities 2,695 2,689 4,255
Operating lease liabilities (1,754) 0 0
Deferred rent and other long-term liabilities 0 (17) 50
Net cash used in operating activities (75,443) (37,271) (2,750)
Cash flows from investing activities:      
Purchase of short-term investments (219,887) (322,605) (51,713)
Accretion on short-term investments 0 0 (254)
Maturity of short-term investments 295,539 113,271 35,000
Purchase of property and equipment (1,953) (1,532) (964)
Net cash used in investing activities 73,699 (210,866) (17,931)
Cash flows from financing activities:      
Proceeds from issuance of common stock upon initial public offering, net of issuance costs 0 150,751 0
Proceeds from issuance of common stock upon completion of private placement 0 10,000 0
Proceeds from issuance of Series C preferred stock, net of issuance costs 0 52,019 47,947
Proceeds from issuances of common stock 2,984 442 174
Payment of deferred offering costs (457) 0 (2,582)
Net cash provided by financing activities 2,527 213,212 45,539
Net increase (decrease) in cash and cash equivalents 783 (34,925) 24,858
Cash and cash equivalents at beginning of period 50,882 85,807 60,949
Cash and cash equivalents at end of period 51,665 50,882 85,807
Supplemental disclosures of noncash investing and financing activities:      
Purchase of property and equipment in accounts payable and accrued liabilities 57 188 159
Reclassification of restricted stock awards from liabilities to common stock upon vesting 9 11 30
Accretion to redemption value and dividends on redeemable convertible preferred stock 0 0 6,225
Deferred offering costs in accounts payable and accrued liabilities 0 0 230
Net unrealized loss on short-term investments $ (169) $ (31) $ (1)