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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (100,666) $ (38,700)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,983 587
Net amortization of premiums and accretion of discounts on marketable securities 194 0
Amortization of operating lease right-of-use asset 80 0
Depreciation expense 4 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 3,212 (1,178)
Other non-current assets 3,060 0
Accounts payable 12,899 3,164
Accrued expenses 20,260 12,386
Operating lease liabilities (69) 0
Other non-current liabilities (6) 0
Net cash used in operating activities (59,049) (23,741)
Cash flows from investing activities:    
Maturities of marketable securities 49,000 0
Net cash provided by investing activities 49,000 0
Cash flows from financing activities:    
Proceeds from exercises of stock options 47 0
Payments for repurchases of unvested restricted common stock (2) 0
Net cash provided by financing activities 45 0
Net decrease in cash and cash equivalents (10,004) (23,741)
Cash and cash equivalents at beginning of period 542,224 114,988
Cash and cash equivalents at end of period 532,220 91,247
Supplemental disclosure of non-cash investing and financing activities:    
Operating lease right-of-use asset recognized upon adoption of ASC 842 1,728 0
Deferred offering and issuance costs included in accrued expenses $ 0 $ 55