XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (114,021) $ (44,585)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 95 55
Non-cash lease expense 468  
Amortization and accretion of discounts on short-term investments 1,130 92
Stock compensation expense 28,115 4,998
Changes in operating assets and liabilities:    
Unbilled grant receivables   129
Accrued interest 299 (160)
Prepaid expenses and other current assets (1,943) (4,542)
Other assets (1,206)  
Accounts payable, accrued expenses and amount due to related party 8,812 4,295
Net cash used in operating activities (78,251) (39,718)
Cash flows from investing activities    
Purchase of property and equipment (396)  
Purchase of short-term investments (30,098) (242,419)
Maturities of short-term investments 230,000 71,000
Net cash provided by (used in) investing activities 199,506 (171,419)
Cash flows from financing activities    
Payment of initial public offering costs   (3,120)
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts of $22,238   295,449
Proceeds from exercise of stock options 167  
Net cash provided by financing activities 167 292,329
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (44) (26)
Net increase in cash, cash equivalents, and restricted cash 121,378 81,166
Cash, cash equivalents, and restricted cash at beginning of period 122,661 61,084
Cash, cash equivalents, and restricted cash at end of period 244,039 142,250
Non-cash investing and financing activities    
Unrealized gain on available-for-sale securities 23 (83)
Right-of-use assets obtained in exchange for operating lease liability 26,386  
Deferred offering costs included in accounts payable and accrued expenses   356
Conversion of preferred stock to common stock upon initial public offering   173,127
Cash and cash equivalents 243,187 142,250
Restricted cash 852  
Total cash, cash equivalents, and restricted cash $ 244,039 $ 142,250