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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net loss $ (76,941) $ (37,735)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 17,495 8,898
Depreciation and amortization 1,392 1,037
Premiums and discounts on available-for-sale marketable securities 1,852 2,511
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 630 (91)
Receivables—due from related parties (327)
Contract asset—due from related parties (2,234) 856
Accounts payable (1,847) 4,005
Accrued expenses and other current liabilities (1,720) 4,092
Deferred revenue (17,503) (35,455)
Operating lease right-of-use assets 245 197
Operating lease liabilities (479) (579)
Other assets and liabilities (170) (743)
Net cash (used in) provided by operating activities (79,280) (53,334)
Investing activities    
Purchase of property and equipment, net (1,217) (790)
Purchases of investments (144,827) (46,164)
Maturities of investments 253,710 152,000
Net cash used in investing activities 107,666 105,046
Financing activities    
Proceeds from stock option exercises 826 2,618
Proceeds from employee stock purchase plan 256 307
Payments of offering costs in connection with initial public offering (397)
Payments on finance leases (533) (341)
Net cash provided by financing activities 549 2,187
Net (decrease) increase in cash, cash equivalents and restricted cash 28,935 53,899
Cash, cash equivalents and restricted cash at beginning of period 54,092 32,593
Cash, cash equivalents and restricted cash at end of period 83,027 86,492
Supplemental disclosure of cash flow activities    
Cash paid for interest 86 54
Supplemental disclosure of noncash investing and financing activities    
Property and equipment purchases included in accounts payable and accrued expenses 745 320
Purchase of property and equipment through finance lease 340 1,231
Offering costs included in accrued expenses 154
Cash and cash equivalents 76,914 84,903
Restricted cash 6,113 1,589
Total cash, cash equivalents, and restricted cash $ 83,027 $ 86,492