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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net loss $ (154,808) $ (100,217) $ (45,593)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 35,480 24,972 5,190
Depreciation and amortization 2,977 2,397 1,763
Premiums and discounts on available for sale marketable securities 889 5,807 1,571
Loss on disposal of property and equipment 0 18 0
Non-cash research and development expense 0 0 332
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (992) (4,016) (3,816)
Accounts receivable due from related party 0 577 (577)
Contract asset-due from related party (2,401) 721 (856)
Accounts payable 253 54 990
Accrued expenses and other current liabilities 4,519 12,599 5,754
Deferred revenue (37,774) (69,356) 117,400
Operating lease right-of-use assets 517 419 8,444
Operating lease liabilities (1,004) (1,015) (2,647)
Other non-current assets (998) (1,992) (30)
Other non-current liabilities 257 86 205
Net cash (used in) provided by operating activities (153,085) (128,946) 88,130
Investing activities      
Purchase of property and equipment, net (2,836) (1,597) (9,096)
Purchase of marketable securities (445,972) (456,404) (529,382)
Maturities of marketable securities 469,327 358,166 115,890
Net cash provided by (used in) investing activities 20,519 (99,835) (422,588)
Financing activities      
Proceeds from issuance of common stock and accompanying pre-funded warrants from private placement, net of issuance costs 149,825 0 0
Proceeds from stock option exercises 3,154 7,632 162
Proceeds from employee stock purchase plan 1,150 788 0
Payments of offering costs in connection with initial public offering (397)
Payments on financing leases (1,130) (849) (554)
Proceeds from follow-on public offering, net of underwriting discounts and offering costs 0 240,760 0
Proceeds from initial public offering, net of underwriting discounts and offering costs 0 0 183,146
Proceeds from concurrent private placement 0 2,346 13,527
Net cash provided by financing activities 152,999 250,280 289,262
Net increase (decrease) in cash, cash equivalents and restricted cash 20,433 21,499 (45,196)
Cash, cash equivalents and restricted cash at beginning of period 54,092 32,593 77,789
Cash, cash equivalents and restricted cash at end of period 74,525 54,092 32,593
Supplemental disclosure of cash flow activities      
Cash paid for interest 179 158 115
Supplemental disclosure of noncash investing and financing activities      
Purchases of property and equipment through finance and lease liabilities 1,506 1,918 0
Property and equipment purchases included in accounts payable and accrued expenses 87 42 27
Offering costs included in accounts payable 0 0 397
Supplemental disclosure of noncash operating activities      
Reduction of right-of-use asset and liability due to lease modification 0 0 2,161
Cash and cash equivalents 68,395 47,976 31,004
Restricted cash 6,130 6,116 1,589
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Total 74,525 54,092 32,593
Series B-1 Convertible Preferred      
Financing activities      
Proceeds from the issuance of Convertible Preferred Stock, net of issuance costs 0 0 4,800
Series C Convertible Preferred Stock      
Financing activities      
Proceeds from the issuance of Convertible Preferred Stock, net of issuance costs $ 0 $ 0 $ 88,181