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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (57,646) $ (45,687)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 914 729
Stock-based compensation expense 6,934 4,858
Non-cash operating lease expense 684 441
Other 443 529
Changes in operating assets and liabilities:    
Accounts receivable (2,991) 7,449
Prepaid expenses and other current assets 1,907 (328)
Other non-current assets 0 0
Accounts payable 202 741
Accrued liabilities 5,404 (1,333)
Other long term liabilities 0 0
Operating lease liabilities (745) (467)
Net cash used in operating activities (44,894) (33,068)
Cash flows from investing activities    
Purchase of short-term investments (78,048) (138,832)
Maturity of short-term investments 86,972 155,529
Purchase of property and equipment (898) (881)
Net cash provided by investing activities 8,026 15,816
Cash flows from financing activities    
Proceeds from exercise of stock options 498 1,741
Payment of deferred offering costs (75) (179)
Payment of debt issuance costs (150) 0
Proceeds from term loan 10,000 0
Net cash provided by financing activities 10,273 1,562
Net decrease in cash and cash equivalents (26,595) (15,690)
Cash and cash equivalents at beginning of period 51,665 50,882
Cash and cash equivalents at end of period 25,070 35,192
Supplemental disclosures of cash flow information:    
Cash paid for interest 72 0
Supplemental disclosures of noncash investing and financing activities:    
Purchase of property and equipment in accounts payable and accrued liabilities 0 82
Reclassification of restricted stock awards from liabilities to common stock upon vesting 1 5
Net unrealized (loss) gain on short-term investments $ (1,058) $ 2