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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (123,321) $ (97,263)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,823 1,535
Stock-based compensation expense 22,598 10,437
Noncash lease expense 1,858 1,669
(Accretion) amortization on short-term investments (1,806) 1,262
Changes in operating assets and liabilities:    
Accounts receivable 15 7,281
Prepaid expenses and other current assets (294) (2,266)
Other non-current assets 201 70
Accounts payable (1,351) 891
Accrued liabilities 7,904 2,695
Operating lease liabilities (2,258) (1,754)
Net cash used in operating activities (94,631) (75,443)
Cash flows from investing activities:    
Purchase of short-term investments (325,716) (219,887)
Maturity of short-term investments 177,272 295,539
Purchase of property and equipment (1,760) (1,953)
Net cash (used in) provided by investing activities (150,204) 73,699
Cash flows from financing activities:    
Proceeds from sale of common stock in a public offering 216,201 0
Proceeds term loan, net of issuance costs 9,850 0
Proceeds from issuances of common stock under benefit plans 1,360 2,984
Payment of offering costs (557) (457)
Net cash provided by financing activities 226,854 2,527
Net (decrease) increase in cash and cash equivalents (17,981) 783
Cash and cash equivalents at beginning of period 51,665 50,882
Cash and cash equivalents at end of period 33,684 51,665
Supplemental disclosures of cash flow information:    
Cash paid for interest 615 0
Supplemental disclosures of noncash investing and financing activities:    
Purchase of property and equipment in accounts payable and accrued liabilities 0 57
Reclassification of restricted stock awards from liabilities to common stock upon vesting 2 9
Net unrealized loss on short-term investments (1,757) (169)
Right-of-use assets obtained in exchange for new operating lease liabilities $ 950 $ 0