XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Unaudited Condensed Consolidated 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
Cash flows used in operating activities:        
Net loss $ (7,691) $ (10,777) $ (26,985) $ (37,024)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation     5,258 8,454
Operating lease right-of-use asset     1,024 712
Depreciation     173 63
Amortization of premium on marketable debt securities     1,029 1,280
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     (433) (605)
Other assets     131 213
Accounts payable     (498) 14
Accrued expenses     (135) 5
Operating lease liabilities     (995) (707)
Net cash used in operating activities     (21,431) (27,595)
Cash flows from investing activities:        
Purchase of marketable debt securities     (14,428) (115,959)
Proceeds from maturity and redemption of marketable debt securities     47,837 16,428
Purchase of property and equipment     (114) (552)
Net cash provided by/(used in) investing activities     33,295 (100,083)
Cash flows from financing activities:        
Repurchase of shares in connection with settlement of RSUs     (90) (228)
Net cash used in financing activities     (90) (228)
Net decrease in cash and cash equivalents and restricted cash     11,774 (127,906)
Cash and cash equivalents and restricted cash - beginning of year     36,469 169,393
Cash and cash equivalents and restricted cash - end of period 48,243 41,487 48,243 41,487
Reconciliation of cash and cash equivalents and restricted cash to the condensed consolidated balance sheets:        
Cash and cash equivalents 47,498 40,742 47,498 40,742
Restricted cash
Restricted cash, non-current 745 745 745 745
Cash and cash equivalents and restricted cash $ 48,243 $ 41,487 $ 48,243 $ 41,487