XML 22 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (44,523) $ (35,910)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 8,081 5,596
Depreciation and amortization expense 391 398
Amortization on marketable securities 647 685
Change in deferred taxes and uncertain tax positions 39 45
Amortization of operating lease assets 408 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,301) (391)
Other assets 0 (7)
Accounts payable (251) 1,221
Accrued expenses and other current liabilities 66 (2,751)
Operating lease liabilities (455) 0
Deferred rent 0 (44)
Net cash used in operating activities (37,898) (31,158)
Cash flows from investing activities:    
Purchase of property and equipment (241) (140)
Purchase of investments (91,720) (146,576)
Proceeds from sales and maturities of investments 84,235 33,441
Net cash used in investing activities (7,726) (113,275)
Cash flows from financing activities:    
Net proceeds from sale of common stock and pre-funded warrants 61,145 0
Payment of deferred offering costs (144) (2,721)
Proceeds from the issuance of common stock under employee stock purchase plan 124 0
Net proceeds from initial public offering 0 136,362
Proceeds from notes receivable 0 12,718
Payment of loans payable 0 (12,880)
Proceeds from stock option exercises 0 898
Net cash provided by financing activities 61,125 134,377
Effect of exchange rate changes on cash and cash equivalents (223) (47)
Net increase (decrease) in cash and cash equivalents 15,278 (10,103)
Cash and cash equivalents at beginning of period 47,699 74,854
Cash and cash equivalents at end of period 62,977 64,751
Supplemental disclosure of cash flow information:    
Cash paid for amounts included in the measurement of lease liabilities 508 0
Supplemental disclosure of non-cash activities:    
Right-of-use assets obtained in exchange for lease liabilities 1,601 0
Deferred offering costs included in accounts payable and accrued expense 282 0
Conversion of preferred stock to common stock upon closing of the initial public offering $ 0 $ 186,033