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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (71,112) $ (66,228)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,162 651
Non-cash lease expense 999 865
Amortization of premium on marketable securities 1,231 356
Stock-based compensation 9,853 2,021
Change in fair value of antidilution rights 0 25,574
Change in fair value of success payments liabilities (2,615) 9,654
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (2,894) (159)
Accounts payable (1,017) 1,283
Accrued expenses and other liabilities 5,176 (1,584)
Operating lease liabilities (1,048) (915)
Net cash used in operating activities (60,265) (28,482)
Cash flows from investing activities:    
Purchases of property and equipment (5,627) (2,376)
Purchases of marketable securities (74,249) (11,176)
Maturities of marketable securities 147,750 43,755
Net cash provided by investing activities 67,874 30,203
Cash flows from financing activities:    
Proceeds from issuance of Series B convertible preferred stock, net 0 93,759
Proceeds from initial public offering, net of underwriting discount 0 285,214
Payment of initial public offering costs 0 (2,765)
Proceeds from exercise of stock options 625 524
Issuance of shares through employee stock purchase plan 325 0
Net cash provided by financing activities 950 376,732
Increase in cash, cash equivalents and restricted cash 8,559 378,453
Cash, cash equivalents and restricted cash—beginning of period 69,567 9,456
Cash, cash equivalents and restricted cash—end of period 78,126 387,909
Supplemental disclosure of noncash investing and financing activities:    
Property and equipment additions included in accounts payable and accrued expenses 1,169 794
Initial public offering costs included in accounts payable and accrued liabilities 0 865
Conversion of convertible preferred stock to common stock upon closing of initial public offering 218,919
Settlement of antidilution rights liability by issuing common stock $ 0 $ 32,490