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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (131,799) $ (86,483)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,627 1,491
Amortization of debt discount and debt issuance costs 335 58
Loss on disposal of property and equipment 24 28
Equity-based compensation 23,149 11,175
Amortization/accretion of investment securities 918 (162)
Non-cash operating lease expense 6,397 2,380
Change in operating assets and liabilities:    
Accounts receivable   25,000
Prepaid expenses and other current assets (8,530) (3,361)
Other assets (601) (923)
Accounts payable 1,016 2,101
Accrued expenses 3,663 5,089
Operating lease liabilities (5,400) (1,261)
Deferred revenue (18,816) (15,403)
Other liabilities 228  
Net cash used in operating activities (126,789) (60,271)
Cash flows from investing activities:    
Purchases of property and equipment (5,248) (4,088)
Purchases of marketable securities (60,437) (200,110)
Maturities of marketable securities 200,000 140,700
Net cash provided by (used in) investing activities 134,315 (63,498)
Cash flows from financing activities:    
Proceeds from debt 24,984 24,622
Proceeds from sale of common shares and pre-funded warrants, net of issuance costs 13,095 215,922
Proceeds from stock option exercises 6,892 7,294
Other (20) (19)
Net cash provided by financing activities 44,951 247,819
Net increase in cash, cash equivalents and restricted cash 52,477 124,050
Cash, cash equivalents and restricted cash, beginning of period 162,856 38,806
Cash, cash equivalents and restricted cash, end of period 215,333 162,856
Supplemental disclosure of non-cash items:    
Property and equipment purchases in accounts payable and accrued expenses 212 1,368
Operating lease right-of-use asset obtained in exchange for operating lease obligation   31,286
Supplemental cash flow information:    
Cash paid for interest $ 2,082 $ 251