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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 $ (50,066) $ (16,599)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 621 416
Noncash operating lease expense 735 492
Stock-based compensation 6,630 2,146
Other, net 15 118
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (12,646) (395)
Other long-term assets 8 13
Accounts payable (2,356) 2,749
Accrued expenses and other liabilities 4,260 (78)
Operating lease liabilities (875) (454)
Deferred revenue (7,529) (9,539)
Net cash used in operating activities (61,203) (21,131)
Cash flows from investing activities    
Purchase of property and equipment (3,372) (367)
Sales and maturities of marketable securities 97,640 100,471
Purchases of marketable securities (70,492) (86,117)
Net cash provided by investing activities 23,776 13,987
Cash flows from financing activities    
Proceeds from issuance of preferred stock, net of issuance costs   29,990
Proceeds from issuance of common stock upon exercise of stock options and purchase of shares under ESPP 983 764
Payment of Business Combination and PIPE Financing transaction costs (8) (1,089)
Net cash provided by financing activities 975 29,665
Net change in cash, cash equivalents and restricted cash (36,452) 22,521
Cash, cash equivalents and restricted cash, beginning of period 145,024 30,660
Cash, cash equivalents and restricted cash, end of period 108,572 53,181
Supplemental cash flow information:    
Cash paid for leases 934 907
Supplemental disclosure of noncash investing and financing activity:    
Purchases of property and equipment included in accounts payable and accrued expenses $ 823 653
Merger with BCTG and PIPE financing deferred offering costs included in accounts payable and accrued expenses   $ 401