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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (31,938) $ (8,151)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and accretion (97) 85
Reduction in the carrying amount of operating lease right of use assets 1,115 0
Stock-based compensation 3,687 1,117
Restructuring payments 0 (750)
Gain on sale of PNAi technology 0 (2,691)
Change in fair value of non-marketable equity securities 543 281
Changes in operating assets and liabilities:    
Prepaid expense and other current assets (7,546) (3,644)
Other assets (32) 0
Accounts payable 5,699 814
Accrued and other current liabilities 1,817 1,153
Operating lease liabilities (1,262) 0
Net cash used in operating activities (28,014) (11,786)
Cash flows from investing activities    
Proceeds from sale of PNAi technology 0 796
Purchase of property and equipment (24) 0
Purchase of marketable securities (97,524) 0
Proceeds from maturities of marketable securities 15,999 0
Net cash (used in) provided by investing activities (81,549) 796
Cash flows from financing activities    
Proceeds from exercise of stock options and employee stock purchase plan 281 550
Proceeds from issuance of Class A common stock upon initial public offering, net of underwriting discounts and commissions 86,131 51,176
Payment of offering costs related to initial public offering (6,096) (2,765)
Net cash provided by financing activities 80,316 48,961
Net increase (decrease) in cash and cash equivalents and restricted cash (29,247) 37,971
Cash, cash equivalents and restricted cash, beginning of period 79,967 53,997
Cash, cash equivalents and restricted cash, end of period 50,720 91,968
Supplemental disclosure of cash flow information    
Cash paid for interest 217 0
Cash paid for operating leases 1,311 0
Reclassification of redeemable convertible preferred stock into Class A common stock and Class B common stock upon initial public offering 0 139,576
Non-marketable equity securities received as partial proceeds from sale of PNAi technology 0 1,759
Lease assignment 0 136
Cash and cash equivalents [Member]    
Cash flows from financing activities    
Cash, cash equivalents and restricted cash, end of period 50,427 91,625
Restricted cash [Member]    
Cash flows from financing activities    
Cash, cash equivalents and restricted cash, end of period $ 293 $ 343