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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Activities        
Net loss     $ (56,514) $ (26,857)
Adjustments to reconcile net loss to net cash used in operating activities        
Depreciation expense $ 200 $ 100 510 99
Non-cash operating lease expense     426 566
Stock-based compensation expense     7,620 4,303
Net amortization of premiums and accretion of discounts on investments     136 361
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     (2,358) (1,170)
Other assets     747 (11)
Accounts payable     (13) 419
Accrued expenses and other current liabilities.     7,649 3,205
Operating lease liabilities     (419) (454)
Net cash used in operating activities     (42,216) (19,539)
Investing Activities        
Purchase of property and equipment     (318) (2,878)
Purchase of investments       (38,492)
Maturities of investments     28,360 3,465
Net cash provided by (used in) investing activities     28,042 (37,905)
Financing Activities        
Proceeds from stock option exercise and purchases under the employee stock purchase plan     749 225
Net proceeds from issuance of common stock from initial public offering       152,753
Series A financing costs incurred       (3)
Payment of Paycheck Protection Program loan       (36)
Net cash provided by financing activities     749 152,939
Net increase (decrease) in cash, cash equivalents, and restricted cash     (13,425) 95,495
Cash, cash equivalents, and restricted cash at the beginning of the period     146,087 61,695
Cash, cash equivalents, and restricted cash at the end of the period 132,662 157,190 132,662 157,190
Non-cash financing and investing activities:        
Acquisition of property and equipment in accounts payable and accrued liabilities     276 103
Acquisition of operating lease right-of-use assets       3,216
Conversion of Series A convertible preferred stock into common stock       55,735
Reconciliation of cash and cash equivalents and restricted cash:        
Cash and cash equivalents 132,311 156,974 132,311 156,974
Restricted cash 351 216 351 216
Cash, cash equivalents, and restricted cash at the end of the period $ 132,662 $ 157,190 $ 132,662 $ 157,190