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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (15,763) $ (8,409)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 281 214
Stock-based compensation 2,110 1,336
Amortization of premiums on securities, net 26 115
Amortization of operating lease right-of-use assets 525 413
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 554 (391)
Accounts payable (394) 724
Accrued expenses and other liabilities 308 (9)
Operating lease liability 18 (246)
Net cash used in operating activities (12,335) (6,253)
Cash flows from investing activities    
Proceeds from maturities of securities 38,575 24,000
Purchases of securities (22,912) 0
Purchases of property and equipment (481) (482)
Net cash provided by investing activities 15,182 23,518
Cash flows from financing activities    
Proceeds from exercise of stock options 156 0
Payments of offering costs 0 (2,069)
Net cash provided by (used in) financing activities 156 (2,069)
Net increase in cash, cash equivalents and restricted cash 3,003 15,196
Cash, cash equivalents and restricted cash at beginning of period 186,461 37,219
Cash, cash equivalents and restricted cash at end of period 189,464 52,415
Supplementary cash flow information on non-cash activities    
Acquisitions of property and equipment included in accounts payable 222 142
Deferred offering costs in accounts payable and accrued expenses and other liabilities 0 1,133
Modification to reduce right-of-use assets and lease liability $ 0 $ 3,254