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Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (79,925) $ (50,197)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 636 255
Stock-based compensation expense 12,746 7,990
Amortization of premiums and discounts on marketable securities, net 223 69
Gain on disposal of property and equipment 0 (16)
Changes in operating assets and liabilities:    
Prepaid and other assets (251) (4,394)
Accounts payable and accrued liabilities 6,582 579
Accrued compensation (4,253) 151
Operating lease right-of-use assets and liabilities, net 1,128 299
Deferred revenue (2,006) (2,552)
Net cash used in operating activities (65,120) (47,816)
Cash flows from investing activities    
Maturities of marketable securities 21,525 3,580
Purchases of marketable securities (212,564) 0
Purchases of property and equipment (2,080) (1,233)
Net cash (used in) provided by investing activities (193,119) 2,347
Cash flows from financing activities    
Proceeds from issuance of common stock in public offerings, gross 64,313 0
Payment of issuance costs related to public offerings (1,929) 0
Proceeds from issuance of common stock under employee stock purchase plan 499 318
Proceeds from exercise of stock options 14 122
Payment of deferred financing costs 0 (10)
Net cash provided by financing activities 62,897 430
Net decrease in cash, cash equivalents and restricted cash (195,342) (45,039)
Cash, cash equivalents and restricted cash at beginning of period 320,699 321,713
Cash, cash equivalents and restricted cash at end of period 125,357 276,674
Supplemental schedule of noncash investing and financing activities:    
Costs incurred, but not paid, in connection with deferred financing costs included in accounts payable and accrued liabilities 0 90
Costs incurred, but not paid, in connection with purchases of property and equipment included in accounts payable and accrued liabilities $ 0 $ 94