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Condensed Statements of Cash Flows (Unaudited)
$ in Thousands
3 Months Ended
Mar. 31, 2022
USD ($)
Mar. 31, 2021
USD ($)
Cash flows from operating activities:    
Net loss $ (25,835) $ (19,709)
Adjustments to reconcile net loss to net cash used in operations:    
Net amortization of premiums and discounts on marketable securities 45  
Depreciation and amortization 440 90
Noncash lease expense 1,452  
Stock-based compensation expense 3,342 1,033
Change in fair value of the Series A redeemable convertible preferred stock tranche liability   10,341
Changes in assets and liabilities:    
Prepaid expenses and other current assets and other assets (71) (1,816)
Accounts payable 582 83
Accrued compensation (1,666) (179)
Accrued research costs 1,246 1,216
Accrued expenses and other current liabilities and other liabilities 323 881
Operating lease liabilities (1,098)  
Net cash used in operating activities (21,240) (8,060)
Cash flows from investing activities:    
Purchases of property and equipment (3,273) (360)
Purchases of investments in marketable securities (167,393)  
Net cash used in investing activities (170,666) (360)
Cash flows from financing activities:    
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs   165,632
Payment of deferred offering costs   (133)
Proceeds from issuance of common stock upon exercise of stock options   268
Net cash provided by financing activities   165,767
Net increase in cash, cash equivalents and restricted cash (191,906) 157,347
Cash, cash equivalents and restricted cash, at beginning of period 378,692 19,817
Cash, cash equivalents and restricted cash, at end of period 186,786 177,164
Reconciliation of cash, cash equivalents and restricted cash to statement of financial position:    
Cash and cash equivalents 185,070 177,015
Restricted cash 1,716 149
Cash, cash equivalents and restricted cash, at end of period 186,786 177,164
Supplemental disclosures of non-cash investing and financing information:    
Issuance costs of redeemable convertible preferred stock in accrued expenses and accounts payable   111
Purchases of property and equipment included in accounts payable (109) (187)
Settlement of redeemable convertible preferred stock tranche liability   (39,403)
Deferred offering costs included in accounts payable and accrued expenses   (595)
Vesting of early exercised stock options $ 51 $ 7