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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net loss $ (25,175) $ (36,206)
Adjustments to reconcile net loss to net cash (used in) operating activities:    
Depreciation and amortization 2,195 1,850
Right-of-use asset (accretion) amortization 0 (70)
Stock-based compensation 3,453 3,895
Realized investment gains (299) 0
Other non-cash transactions 216 26
Changes in operating assets and liabilities (27,389) 33,789
Net cash provided by (used in) operating activities (46,999) 3,284
Investing activities:    
Purchases of property and equipment (1,052) (607)
Proceeds from maturity of investments 21,900 0
Purchases of investments (43,191) 0
Net cash (used in) investing activities (22,343) (607)
Financing activities:    
Proceeds from exercise of stock options 95 858
Proceeds from exercise of warrants 0 837
Proceeds from employee stock purchase plan 104 96
Proceeds from issuance of common stock from private placement, net of issuance costs 0 18,913
Proceeds from issuance of common stock resulting from ATM sales, net of $0.3 million in transaction costs 6,922 33,522
Net cash provided by financing activities 7,121 54,226
Effect of exchange rate change on cash and cash equivalents (7,120) (2,287)
Net decrease in cash and cash equivalents (69,341) 54,616
Cash and cash equivalents at beginning of period 117,764 70,436
Cash and cash equivalents at end of period 48,423 125,052
Supplemental cash flow disclosures:    
Net unrealized gain on investments 82 0
Property and equipment included in accounts payable $ 31 $ 0