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CONDENSED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (63,261) $ (73,464)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 10,729 2,657
Depreciation and amortization 1,200 503
Accretion and amortization of premiums and discounts on investments, net 2,410 116
Non-cash lease expense 324 220
Change in fair value of preferred stock purchase right liability   40,163
Others   (15)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (3,688) (3,355)
Accounts payable and accrued and other liabilities 1,931 2,523
Net cash used in operating activities (50,355) (30,652)
Cash flows from investing activities    
Purchases of property and equipment (3,932) (6,442)
Purchases of short-term investments (131,109) (144,916)
Maturities of short-term investments 185,410 20,000
Net cash provided by (used in) investing activities 50,369 (131,358)
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock, net of issuance costs   64,321
Proceeds from initial public offering, net of issuance costs   265,461
Proceeds from stock option exercises 1,330 322
Proceeds from early exercise of stock options   12
Payments of deferred offering costs (130)  
Net cash provided by financing activities 1,200 330,116
Net increase in cash and cash equivalents 1,214 168,106
Cash, cash equivalents, and restricted cash beginning of period 97,105 20,875
Cash, cash equivalents, and restricted cash end of period 98,319 188,981
Reconciliation of cash, cash equivalents and restricted cash to the balance sheet:    
Cash and cash equivalents 96,221 188,568
Restricted cash 2,098 413
Total cash, cash equivalents and restricted cash $ 98,319 $ 188,981