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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (22,006) $ (23,921)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 461 211
Stock-based compensation 3,566 1,096
Change in fair value of convertible promissory notes 0 11,400
Change in fair value of warrant liability 0 2,202
Amortization of premium on short -term investments 1,174 72
Amortization of right-of-use lease assets 641 0
Accretion of debt issuance costs 37 78
Changes in operating assets and liabilities:    
Inventory (3,318) 0
Prepaid expenses and other assets 1,648 (264)
Other noncurrent assets (1,111) (804)
Accounts payable 1,013 144
Accrued expenses (1,367) 585
Other current liabilities 0 (58)
Lease liabilities (550) 0
Other noncurrent liabilities (27) 74
Net cash used in operating activities (19,839) (9,185)
Investing activities    
Purchases of short-term investments (35,193) (101,608)
Sales of short-term investments 10,334 8,838
Maturities of shot-term investments 34,184 2,816
Purchases of property and equipment (939) (507)
Net cash (used) in / provided by investing activities 8,386 (90,461)
Financing activities    
Proceeds from issuance of common stock, net of repurchases 23 2,984
Proceeds from issuance of convertible promisorry notes 0 130,500
Net cash provided by financing activities 23 133,484
Increase in cash and cash equivalents and restricted cash (11,430) 33,838
Cash and cash equivalents and restricted cash, beginning of year 201,736 12,170
Cash and cash equivalents and restricted cash, end of year 190,306 46,008
Supplemental disclosure for cash activities    
Interest paid 105 148
Supplemental disclosure for non-cash activities    
Initial lease liability recognized upon adoption of ASC 842 7,074 0
Vesting of restricted stock 344 92
Deferred offering costs in accrued expenses 0 804
Purchase of property plant and equipment included in accounts payable $ 164 $ 86