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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities:    
Net loss $ (37,304) $ (28,933)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 307 250
Stock-based compensation 5,021 1,932
Non-cash interest expense 273 91
Accretion of discounts on investments, net 51 (649)
Amortization of right-of-use asset 624 580
Change in fair value of warrant liability 75  
Changes in operating assets and liabilities    
Prepaid expenses and other current assets (4,155) (558)
Accounts payable and accrued liabilities (503) 44
Lease liability (600) (505)
Net cash used in operating activities (36,211) (27,748)
Investing activities:    
Purchases of property and equipment (206) (84)
Purchases of short-term investments (79,874) (53,029)
Sales and maturities of short-term investments 47,983 70,810
Net cash (used in) provided by investing activities (32,097) 17,697
Financing activities:    
Proceeds from issuance of common stock from initial public offering, net of issuance costs 76,874  
Proceeds from exercise of common stock options 161 38
Repurchase of unvested common stock (2) (1)
Proceeds from issuance of long-term debt, net of issuance cost   9,717
Net cash provided by financing activities 77,033 9,754
Net increase (decrease) in cash and cash equivalents 8,725 (297)
Cash and cash equivalents at beginning of year 15,668 15,965
Cash and cash equivalents at end of year 24,393 15,668
Supplemental disclosure of cash flow information:    
Cash paid for interest 737 193
Supplemental non-cash investing and financing activities:    
Conversion of convertible preferred stock to common stock 122,465  
Conversion of convertible preferred stock warrant to common stock warrant 259  
Initial fair value of warrant liability   184
Vesting of common stock $ 80 $ 99