XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
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 $ (151,656) $ (83,373)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 8,344 3,929
Non-cash payments 0 66
Net amortization of premiums and accretion of discounts on marketable securities 194 0
Amortization of operating lease right-of-use assets 211 0
Depreciation expense 9 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 18,825 (1,146)
Other non-current assets 2,998 0
Accounts payable 8,449 2,159
Accrued expenses (3,653) 21,054
Other current liabilities 58 0
Operating lease liabilities (214) 0
Other non-current liabilities (6) 0
Net cash used in operating activities (116,441) (57,311)
Cash flows from investing activities:    
Maturities of marketable securities 49,000 0
Purchases of property and equipment (17) 0
Net cash provided by investing activities 48,983 0
Cash flows from financing activities:    
Proceeds from issuance of convertible preferred stock, net of issuance costs paid 0 335,264
Payments of initial public offering costs 0 (432)
Proceeds from exercises of stock options 123 0
Payments for repurchases of unvested restricted common stock (4) 0
Net cash provided by financing activities 119 334,832
Net (decrease) increase in cash and cash equivalents (67,339) 277,521
Cash and cash equivalents at beginning of period 542,224 114,988
Cash and cash equivalents at end of period 474,885 392,509
Supplemental disclosure of non-cash investing and financing activities:    
Operating lease right-of-use asset recognized upon adoption of ASC 842 1,728 0
Operating lease right-of-use asset recognized under ASC 842 1,344  
Deferred offering and issuance costs included in accrued expenses $ 0 $ 1,602