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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (97,505) $ (30,788)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 11,529 2,376
Depreciation and amortization expense 747 483
Non-cash lease expense (28)  
Amortization (accretion) of premium (discount) on marketable securities 1,843  
Changes in success fee obligation 450
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (12,816) (107)
Right-of-use assets (2,940)  
Accounts payable and other liabilities 7,675 1,114
Net cash used in operating activities (91,495) (26,472)
Cash flows from investing activities:    
Purchases of property and equipment (1,628) (438)
Purchases of marketable securities (208,207)  
Maturities of marketable securities 72,178  
Net cash used in investing activities (137,657) (438)
Cash flows from financing activities:    
Proceeds from initial public offering of common stock, net of issuance costs   247,454
Proceeds from follow-on public offering of common stock, net of issuance costs 157,237  
Proceeds from issuance of debt, net of issuance costs   9,936
Settlement of success fee obligation   (450)
Proceeds from issuance of convertible preferred stock, net of issuance costs 0 134,920
Proceeds from exercise of stock options 495 24
Net cash provided by financing activities 157,732 391,884
Net increase (decrease) in cash and cash equivalents (71,420) 364,974
Cash, cash equivalents and restricted cash, beginning of period 303,153 14,632
Cash, cash equivalents and restricted cash, end of period 231,733 379,606
Supplemental cash flow information:    
Cash paid for interest and taxes   311
Supplemental disclosures of cash flow information:    
Purchase of property and equipment in accounts payable 161  
Right-of-use assets acquired under operating leases 33,799  
Issuance costs from convertible preferred stock included in accounts payable or accrued expenses $ 0 134
Conversion of convertible preferred stock to common stock   162,215
Public offering costs included in accounts payable or accrued expenses   $ 1,043