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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (32,093) $ (15,889)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation expense 665 171
Non-cash lease expense 1,504 139
Stock-based compensation 1,958 265
Other 4  
Changes in operating assets and liabilities:    
Operating lease liability (1,141) 191
Prepaid expenses and other current assets (4,064) (330)
Accounts payable and accrued expenses (762) 1,040
Other assets (285)  
Net cash used in operating activities (34,214) (14,413)
Cash flow from investing activities    
Purchases of investments (75,122)  
Purchases of property and equipment (2,090) (1,097)
Net cash used in investing activities (77,212) (1,097)
Cash flow from financing activities    
Proceeds from issuance of redeemable convertible preferred stock 45,375 81,894
Proceeds from the issuance of common stock upon closing of initial public offering, net of underwriter fees 189,199  
Payment of initial public offering costs (2,215)  
Proceeds from stock option exercises 44 60
Net cash provided by financing activities 232,403 81,954
Net increase in cash, cash equivalents and restricted cash equivalents 120,977 66,444
Cash, cash equivalents and restricted cash equivalents, beginning of period 50,098 8,025
Cash, cash equivalents and restricted cash equivalents, end of period 171,075 74,469
Supplemental disclosure of non-cash activities    
Lease incentive paid by the landlord on behalf of the Company   151
Operating right-of-use assets and operating lease liability recorded upon lease commencement 35 17,899
Purchases of property and equipment in accounts payable 142 400
Conversion of redeemable convertible preferred stock to common stock upon closing of the initial public offering $ 152,711  
Deferred offering costs in accounts payable and accrued expenses   127
Receivable related to Series B redeemable convertible preferred stock   $ 500