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Condensed Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating Activities        
Net loss     $ (14,251,000) $ (691,000)
Adjustments to reconcile net loss to net cash used in operating activities        
Depreciation $ 22,000 $ 0 34,000 0
Non-cash operating lease expense     381,000  
Stock-based compensation expense     2,382,000  
Net amortization of premiums and accretion of discounts on investments     204,000  
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     (1,421,000) 6,000
Other assets     12,000  
Accounts payable     237,000 72,000
Accrued expenses and other current liabilities     2,259,000 (8,000)
Lease liabilities     (388,000)  
Net cash used in operating activities     (10,551,000) (621,000)
Investing Activities        
Purchase of property and equipment     (838,000)  
Purchase of short-term and long-term investments     (38,492,000)  
Maturities of short-term and long-term investments     1,500,000  
Net cash used in investing activities     (37,830,000)  
Financing Activities        
Proceeds from issuance of common stock from series seed       9,610,000
Series A financing costs incurred     (3,000) (68,000)
Net proceeds from issuance of common stock from initial public offering     152,753,000  
Proceeds from stock option exercise     225,000  
Proceeds (payments) from Paycheck Protection Program loan     (36,000) 36,000
Net cash provided by financing activities     152,939,000 9,578,000
Net increase in cash, cash equivalents, and restricted cash     104,558,000 8,957,000
Cash, cash equivalents, and restricted cash at the beginning of the period     61,695,000 239,000
Cash, cash equivalents, and restricted cash at the end of the period 166,253,000 9,196,000 166,253,000 9,196,000
Non-cash financing and investing activities:        
Acquisition of fixed assets in accounts payable and accrued liabilities     610,000  
Acquisition of right of use asset     3,216,000  
Change in unrealized gain on investments     2,000  
Conversion of convertible preferred stock into common stock     55,735,000  
Reconciliation of cash and cash equivalents and restricted cash:        
Cash and cash equivalents 166,037,000 9,196,000 166,037,000 9,196,000
Restricted cash 216,000   216,000  
Cash, cash equivalents, and restricted cash at the end of the period $ 166,253,000 $ 9,196,000 $ 166,253,000 $ 9,196,000