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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net loss $ (63,005) $ (51,823)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 3,200 2,817
Depreciation 1,462 1,413
Non-cash lease expense 1,828  
(Gain) loss on disposal of property and equipment   (35)
Amortization (accretion) of available-for-sale securities 235 987
Changes in operating assets and liabilities:    
Accounts receivable from related party 11,402 (10,165)
Prepaid expenses and other current assets 611 (1,761)
Accounts payable (3,128) 1,881
Accrued expenses and other current liabilities 941 3,438
Deferred rent and lease incentive   (607)
Deferred collaboration liability (8,401) 9,404
Operating lease liability (2,355)  
Other long-term liabilities 312 1,301
Net cash used in operating activities (56,898) (43,150)
Investing activities    
Purchases of available-for-sale securities (97,513) (197,457)
Proceeds from maturities of available-for-sale securities 153,073 97,068
Proceeds from sale of property and equipment   139
Purchases of property and equipment (463) (745)
Net cash provided by (used in) investing activities 55,097 (100,995)
Financing activities    
Proceeds from the issuance of Series D convertible preferred stock   27,400
Proceeds from issuance of common stock upon completion of initial public offering net of commissions and underwriting discounts   128,240
Payment of initial public offering costs   (3,255)
Proceeds from the exercise of stock options   319
Principal payments on finance lease liability (213) (193)
Repurchases of early exercised restricted stock   (1)
Net cash (used in) provided by financing activities (213) 152,510
Net (decrease) increase in cash, cash equivalents and restricted cash (2,014) 8,365
Cash, cash equivalents and restricted cash at beginning of period 37,583 29,218
Cash, cash equivalents and restricted cash at end of period 35,569 37,583
Supplemental cash flow information:    
Cash paid for interest for finance lease 14 34
Supplemental disclosure of non-cash activities:    
Operating lease right-of-use asset recognized upon adoption of ASC 842 11,485  
Property and equipment purchases in accounts payable and accrued expenses $ 197 46
Vesting of early exercised restricted stock   $ 18