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Unaudited Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (30,298) $ (8,490)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 189 22
Loss on disposal of assets 0 3
Stock-based compensation 8,402 1,400
Amortization (accretion) of premiums/discounts on investments, net (123) (35)
Changes in operating assets and liabilities:    
Accounts receivable 0 7,625
Prepaid expenses and other current assets (includes related party amounts of $(13) and $(36), respectively) (1,987) (1,789)
Other long-term assets 185 0
Accounts payable 117 37
Accrued expenses (includes related party amounts of $(32) and $(544), respectively) 264 698
Deferred revenue 4,797 (112)
Operating lease right-of-use assets and liabilities, net 859 0
Net cash used in operating activities (17,595) (641)
Cash flows from investing activities    
Purchases of property and equipment (1,869) (232)
Purchases of short-term investments (113,874) (142,518)
Maturities of short-term investments 155,850 0
Net cash provided by (used in) investing activities 40,107 (142,750)
Cash flows from financing activities    
Proceeds from exercise of vested and unvested common stock options and employee stock purchase plan 309 1,646
Proceeds from initial public offering, net of issuance costs 0 205,010
Net cash provided by financing activities 309 387,203
Net increase in cash and cash equivalents 22,821 243,812
Cash, cash equivalents and restricted cash -- beginning of period 36,398 7,813
Cash, cash equivalents and restricted cash -- end of period 59,219 251,625
Supplemental disclosure of noncash investing and financing activities    
Conversion of convertible preferred stock in connection with initial public offering 0 202,171
Unpaid property and equipment 463 0
Vesting of restricted common stock 711 178
Unpaid equity issuance costs 1 873
Unrealized gain (loss) on available-for-sale securities, net (1,637) 17
Operating lease liabilities arising from right-of-use assets 23,078 0
Series A Convertible Preferred Stock [Member]    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock, net of issuance costs 0 55,722
Series B Convertible Preferred Stock [Member]    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock, net of issuance costs $ 0 $ 124,825