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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (107,555,000) $ (92,300,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,708,000 509,000
Stock-based compensation expense 14,729,000 5,448,000
In-process research and development expenses 2,000,000 10,848,000
Issuance of common stock to Erasca Foundation   17,497,000
(Accretion) amortization on marketable securities, net (169,000) 75,000
Change in fair value of preferred stock purchase right liability   (1,615,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other current and long-term assets (4,512,000) (5,592,000)
Accounts payable 1,540,000 409,000
Accrued expenses and other current liabilities 2,936,000 7,173,000
Operating lease assets and liabilities, net 12,431,000 430,000
Net cash used in operating activities (76,892,000) (57,118,000)
Cash flows from investing activities:    
Purchases of marketable securities (94,427,000) (41,696,000)
Maturities of marketable securities 45,900,000 54,110,000
In-process research and development (2,000,000) (7,680,000)
Payment made for investment in equity securities (2,000,000)  
Purchases of property and equipment (13,687,000) (5,375,000)
Net cash used in investing activities (66,214,000) (641,000)
Cash flows from financing activities:    
Proceeds from the issuance of common stock in initial public offering, net of discounts and issuance costs   316,999,000
Proceeds from the issuance of convertible preferred stock, net of issuance costs   119,393,000
Proceeds from the exercise of stock options, net of repurchases 1,262,000 1,345,000
Proceeds from issuance of common stock under the Employee Stock Purchase Plan 617,000  
Proceeds from the disgorgement of stockholder's short-swing profits   553,000
Net cash provided by financing activities 1,879,000 438,290,000
Net (decrease) increase in cash, cash equivalents and restricted cash (141,227,000) 380,531,000
Cash, cash equivalents and restricted cash at beginning of the period 360,895,000 65,688,000
Cash, cash equivalents and restricted cash at end of the period 219,668,000 446,219,000
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common stock to Erasca Foundation   17,497,000
Issuance of common stock in connection with asset acquisition   1,680,000
Issuance of common stock in connection with license agreement   5,488,000
Amounts accrued for purchases of property and equipment 841,000 1,882,000
Conversion of preferred stock to common stock upon initial public offering   340,798,000
Vesting of early exercised options 955,000 519,000
Operating lease assets obtained in exchange for lease obligation 22,704,000 17,498,000
Reduction in operating lease assets due to lease amendment $ 3,361,000  
Tenant improvement allowance included in operating lease liabilities   $ 16,774,000