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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (27,344) $ (26,041)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 432 263
Noncash operating lease expense 310 60
Right of use asset expensed 1,705  
Amortization of premiums and discounts on marketable securities (1,978) 110
Share-based compensation 10,156 4,481
Changes in operating assets and liabilities:    
Receivable from collaboration partner (21,230)  
Prepaid expenses and other current and non-current assets (4,931) (11,864)
Accounts payable and other current liabilities (4,237) 696
Accrued liabilities (173) (187)
Operating lease liabilities 1,013 (104)
Contract liability 228,319  
Net cash provided by (used in) operating activities 182,042 (32,586)
Cash flows from investing activities    
Purchases of property and equipment (980) (467)
Purchases of marketable securities (162,144) (27,026)
Proceeds from maturities of marketable securities 96,350 16,850
Net cash used in investing activities (66,774) (10,643)
Cash flows from financing activities    
Proceeds from issuance of common stock in accordance with Gilead Stock Purchase Agreement 100,000  
Proceeds from issuance of common stock (initial public offering), net of transactions costs   129,156
Proceeds from issuance of common stock (private placement), net of transactions costs   10,000
Proceeds from exercise of stock options 374 429
Payments under finance leases (4,929) (29)
Net cash provided by financing activities 95,445 139,556
Net increase in cash and cash equivalents and restricted cash 210,713 96,327
Cash and cash equivalents and restricted cash, beginning of the year 66,680 31,032
Cash and cash equivalents and restricted cash, end of the period 277,393 127,359
Supplemental disclosures of noncash investing and financing activities:    
Purchase of property and equipment included in accounts payable and accrued liabilities $ 2,709 35
Deferred offering costs included in accounts payable and accrued liabilities   $ 42