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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (87,887) $ (54,923)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 7,519 7,891
Depreciation and amortization expense 885 487
Non-cash lease expense 2,183 (15)
Amortization of premium on marketable securities 1,011 1,146
Loss on sale of marketable securities 21 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (656) (21,393)
Other assets 0 (578)
Accounts payable and other liabilities (4,724) 2,842
Net cash used in operating activities (81,648) (64,543)
Cash flows from investing activities:    
Purchases of property and equipment (1,662) (747)
Purchases of marketable securities (89,530) (156,562)
Maturities of marketable securities 104,740 22,500
Sales of marketable securities 2,759 0
Net cash provided by (used in) investing activities 16,307 (134,809)
Cash flows from financing activities:    
Proceeds from follow-on public offering of common stock, net of issuance costs 0 157,237
Proceeds from exercise of stock options 117 38
Net cash provided by financing activities 117 157,275
Net decrease in cash and cash equivalents (65,224) (42,077)
Cash, cash equivalents and restricted cash, beginning of period 203,519 303,153
Cash, cash equivalents and restricted cash, end of period 138,295 261,076
Supplemental disclosures of cash flow information:    
Purchase of property and equipment in accounts payable $ 230 $ 383