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CONDENSED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (81,255) $ (63,261)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 12,399 10,729
Depreciation and amortization 1,908 1,200
Accretion and amortization of premiums and discounts on investments, net 763 2,410
Non-cash lease expense 3,269 324
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,575) (3,688)
Operating lease liabilities 11,446  
Accounts payable and accrued and other liabilities 3,376 1,931
Net cash used in operating activities (49,669) (50,355)
Cash flows from investing activities    
Purchases of property and equipment (12,073) (3,932)
Purchases of short-term investments (310,313) (131,109)
Maturities of short-term investments 132,950 185,410
Net cash used in investing activities (189,436) 50,369
Cash flows from financing activities    
Proceeds from stock option exercises 1,365 1,330
Proceeds from secondary offering, net of issuance costs 215,611  
Proceeds from ATM offering, net of issuance costs 1,612  
Payments of deferred offering costs   (130)
Net cash provided by financing activities 218,588 1,200
Net increase (decrease) in cash and cash equivalents (20,517) 1,214
Cash, cash equivalents, and restricted cash beginning of period 62,914 97,105
Cash, cash equivalents, and restricted cash end of period 42,397 98,319
Reconciliation of cash, cash equivalents and restricted cash to the balance sheet:    
Cash and cash equivalents 39,654 96,221
Restricted cash 2,743 2,098
Total cash, cash equivalents and restricted cash 42,397 98,319
Supplemental disclosures of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for operating lease liabilities resulting from new leases 59,527  
Right-of-use assets obtained in exchange for operating lease liabilities resulting from modifications of existing leases 14,793  
Acquisitions of property and equipment in accounts payable $ 7,228 $ 69