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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (78,608) $ (49,458)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 260 90
Non-cash lease expense 975  
Premium amortization and discount accretion on marketable securities, net (216) 220
Stock-based compensation expense, including employee stock purchase plan expense 13,968 11,286
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 61 1,232
Other assets (1,114)  
Accounts payable (9) (527)
Other current liabilities 3,281 5,070
Operating lease liabilities (952)  
Net cash used in operating activities (62,354) (32,087)
Cash flows from investing activities:    
Purchase of equipment (190) (876)
Maturities of marketable securities 244,500 186,449
Purchases of marketable securities (169,167) (467,011)
Net cash provided by (used in) investing activities 75,143 (281,438)
Cash flows from financing activities:    
Proceeds from exercise of stock options 146 187
Proceeds from issuance of common stock under employee stock purchase plan 57 386
Net cash provided by financing activities 203 573
Net increase (decrease) in cash and cash equivalents 12,992 (312,952)
Cash and cash equivalents at beginning of period 13,812 338,549
Cash and cash equivalents at end of period 26,804 25,597
Supplemental disclosure of non-cash investing and financing activities:    
Reclassification of prepaid expenses and other current liabilities into other assets 1,117  
Vesting of early exercised stock options $ 93 341
Purchases of property and equipment included in accounts payable   $ 114