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Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (21,004) $ (12,679)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,270 845
Depreciation 3  
Amortization of premiums (accretion of discounts) on investments 149 (2)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,037) (1,835)
Accounts payable (426) (298)
Accrued research and development expenses 1,970 668
Accrued compensation and related expenses (461) 451
Accrued other expenses 993 (46)
Operating right-of-use assets and lease liabilities, net 4
Net cash used in operating activities (18,539) (12,896)
Cash flows from investing activities:    
Purchases of short-term investments (34,291) (28,012)
Maturities of short-term investments 14,200
Net cash used in investing activities (20,091) (28,012)
Cash flows from financing activities:    
Series A convertible preferred stock financing costs (1)
Proceeds from initial public offering 84,774
Initial public offering costs (8,320)
Net cash provided by financing activities 76,453
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (38,630) 35,545
Cash and cash equivalents at the beginning of the period 66,346 55,316
Cash and cash equivalents at the end of the period 27,716 90,861
Non-cash investing and financing activities:    
Initial public offering costs in accrued other expenses $ 1