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CONDENSED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (19,373) $ (8,706)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 3,347 482
Depreciation and amortization 301 141
Accretion and amortization of premium on investments, net 758 (28)
Non-cash lease expense 137 139
Change in fair value of preferred stock purchase right liability   (578)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 825 (163)
Accounts payable and accrued and other liabilities (642) 426
Net cash used in operating activities (14,647) (8,287)
Cash flows from investing activities    
Purchases of property and equipment (1,033) (2,325)
Purchases of short-term investments (35,161) (3,578)
Maturities of short-term investments 16,000 10,800
Net cash provided by (used in) investing activities (20,194) 4,897
Cash flows from financing activities    
Proceeds from stock option exercises 756 1
Proceeds from early exercise of stock options 1 1
Payments of deferred offering costs   (711)
Net cash provided by (used in) financing activities 757 (709)
Net decrease in cash and cash equivalents (34,084) (4,099)
Cash, cash equivalents, and restricted cash beginning of period 97,105 20,875
Cash, cash equivalents, and restricted cash end of period 63,021 16,776
Reconciliation of cash, cash equivalents and restricted cash to the balance sheet:    
Cash and cash equivalents 62,608 16,507
Restricted cash 413 269
Total cash, cash equivalents and restricted cash $ 63,021 $ 16,776