XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (43,863) $ (30,923)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 466 18
Non-cash lease expense 380 54
Amortization and accretion of discounts on short-term investments 76 456
Stock compensation expense 10,467 8,103
Changes in operating assets and liabilities:    
Interest receivable (122) (19)
Prepaid expenses and other current assets 284 1,735
Other assets 122  
Income tax payable (500)  
Accounts payable, accrued expenses and amount due to related party (13,786) 1,650
Net cash used in operating activities (46,476) (18,926)
Cash flows from investing activities    
Purchase of property and equipment   (75)
Purchase of short-term investments (60,979) (30,098)
Maturities of short-term investments 6,000 95,000
Net cash (used in) provided by investing activities (54,979) 64,827
Cash flows from financing activities    
Effect of exchange rate changes on cash, cash equivalents, and restricted cash   83
Net (decrease) increase in cash, cash equivalents, and restricted cash (101,455) 45,984
Cash, cash equivalents, and restricted cash at beginning of period 202,513 122,661
Cash, cash equivalents, and restricted cash at end of period 101,058 168,645
Non-cash investing and financing activities    
Unrealized (loss) gain on available-for-sale securities (195) 42
Right-of-use assets obtained in exchange for operating lease liability   3,099
Reduction of right-of-use asset due to modification (5,506)  
Supplemental disclosure of cash flows    
Cash paid for income taxes 500  
Cash and cash equivalents 100,206 168,645
Restricted cash 852  
Total cash, cash equivalents, and restricted cash $ 101,058 $ 168,645