XML 16 R5.htm IDEA: XBRL DOCUMENT v3.22.2
CONDENSED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (52,910) $ (40,908)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 8,009 7,037
Depreciation and amortization 1,243 667
Accretion and amortization of premiums and discounts on investments, net 1,110 1,576
Non-cash lease expense 2,019 231
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 3,282 (987)
Operating lease right-of-use assets 2,923  
Operating lease liabilities 726  
Accounts payable and accrued and other liabilities (1,274) 285
Net cash used in operating activities (34,872) (32,099)
Cash flows from investing activities    
Purchases of property and equipment (4,399) (2,411)
Purchases of short-term investments (175,011) (86,234)
Maturities of short-term investments 69,088 47,500
Net cash used in investing activities (110,322) (41,145)
Cash flows from financing activities    
Proceeds from stock option exercises 413 1,012
Proceeds from secondary offering, net of issuance costs 215,611  
Net cash provided by financing activities 216,024 1,012
Net increase (decrease) in cash and cash equivalents 70,830 (72,232)
Cash, cash equivalents, and restricted cash beginning of period 62,914 97,105
Cash, cash equivalents, and restricted cash end of period 133,744 24,873
Reconciliation of cash, cash equivalents and restricted cash to the balance sheet:    
Cash and cash equivalents 131,646 24,421
Restricted cash 2,098 452
Total cash, cash equivalents and restricted cash 133,744 24,873
Supplemental disclosures of non-cash investing and financing activities:    
Acquisitions of property and equipment $ 926 $ 255