XML 15 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Unaudited Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (17,459) $ (13,410)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 453 81
Stock-based compensation 5,473 3,958
Accretion of discounts on investments, net (1,678) (24)
Changes in operating assets and liabilities:    
Accounts receivable (750) 0
Prepaid expenses and other current assets 1,649 (1,400)
Other long-term assets (221) 55
Accounts payable (107) (740)
Accrued expenses (560) 1,158
Deferred revenue (1,298) (1,214)
Operating lease right-of-use assets and liabilities, net 587 14
Net cash used in operating activities (13,911) (11,522)
Cash flows from investing activities    
Purchases of property and equipment (285) (971)
Purchases of short-term investments (71,705) (45,061)
Maturities of short-term investments 63,250 77,100
Net cash provided by (used in) investing activities (8,740) 31,068
Cash flows from financing activities    
Proceeds from exercise of vested and unvested common stock options and employee stock purchase plan 1,580 1
Net cash provided by financing activities 1,580 1
Net increase (decrease) in cash, cash equivalents and restricted cash (21,071) 19,547
Cash, cash equivalents and restricted cash -- beginning of period 52,242 36,398
Cash, cash equivalents and restricted cash -- end of period 31,171 55,945
Supplemental disclosure of noncash investing and financing activities    
Unpaid property and equipment 395 396
Vesting of restricted common stock 134 503
Unrealized gain (loss) on available-for-sale securities, net $ 796 $ (1,297)