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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities    
Net loss $ (45,593) $ (41,246)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,190 1,196
Depreciation and amortization 1,763 825
Non-cash research and development expense 332 443
Net amortization of premiums and discounts on investments 1,571  
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (3,816) (564)
Accounts receivable—due from related party (577)  
Contract asset—due from related parties (856)  
Other receivables—due from related parties   148
Accounts payable 990 904
Accrued expenses and other current liabilities 5,754 2,248
Deferred revenue 117,400 52,991
Other non-current assets (30)  
Operating lease right-of-use assets 8,444 1,350
Operating lease liabilities (2,647) (383)
Other non-current liabilities 205 (7)
Net cash provided by operating activities 88,130 17,905
Investing activities    
Purchase of property and equipment, net (9,096) (532)
Purchase of marketable securities (529,382) (15,954)
Maturities of marketable securities 115,890  
Net cash used in investing activities (422,588) (16,486)
Financing activities    
Proceeds from stock option exercises 162 74
Payments on financing leases (554) (371)
Proceeds from initial public offering, net of underwriting discounts and offering costs 183,146  
Proceeds from concurrent private placement 13,527  
Net cash provided by financing activities 289,262 34,911
Net (decrease) increase in cash, cash equivalents and restricted cash (45,196) 36,330
Cash, cash equivalents and restricted cash at beginning of period 77,789 41,459
Cash, cash equivalents and restricted cash at end of period 32,593 77,789
Supplemental disclosure of cash flow activities    
Cash paid for interest 115 46
Supplemental disclosure of noncash investing and financing activities    
Purchases of property and equipment through finance and lease liabilities   1,642
Property and equipment purchases included in accounts payable and accrued expenses 27 315
Offering costs included in accounts payable 397  
Supplemental disclosure of noncash operating activities    
Right-of-use assets obtained in exchange for operating lease liabilities   16,522
Tenant improvement receivable included in other assets   287
Reduction of right-of-use asset and liability due to lease modification 2,161  
Cash and cash equivalents 31,004 76,015
Restricted cash 1,589 1,774
Series B Convertible Preferred Stock    
Financing activities    
Proceeds from the issuance of Convertible Preferred Stock, net of issuance costs   21,183
Series B-1 Convertible Preferred    
Financing activities    
Proceeds from the issuance of Convertible Preferred Stock, net of issuance costs 4,800 $ 14,025
Series C Convertible Preferred Stock    
Financing activities    
Proceeds from the issuance of Convertible Preferred Stock, net of issuance costs $ 88,181