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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (37,548) $ (28,100)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 452 455
Stock-based compensation expense 11,923 3,531
Non-cash operating lease expense 609 244
(Accretion) amortization on short-term investments (2,584) 272
Changes in operating assets and liabilities:    
Accounts receivable (1,314) 749
Prepaid expenses and other current assets (476) 1,013
Other non-current assets 0 207
Accounts payable (144) 1,770
Accrued liabilities (538) (364)
Operating lease liabilities (656) (275)
Net cash used in operating activities (30,276) (20,498)
Cash flows from investing activities    
Purchase of short-term investments (276,620) (39,228)
Maturity of short-term investments 102,575 41,403
Purchase of property and equipment (163) (644)
Net cash (used in) provided by investing activities (174,208) 1,531
Cash flows from financing activities    
Proceeds from issuances of common stock under benefit plans 3,661 51
Payment of offering costs (586) (204)
Proceeds from sale of common stock in a public offering 270,251 0
Net cash provided by (used in) financing activities 273,326 (153)
Net increase (decrease) in cash and cash equivalents 68,842 (19,120)
Cash and cash equivalents at beginning of period 33,685 51,665
Cash and cash equivalents at end of period 102,527 32,545
Supplemental disclosures of cash flow information:    
Cash paid for interest 282 0
Supplemental disclosures of noncash investing activities:    
Net unrealized gain (loss) on short-term investments $ 636 $ (749)