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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (30,452) $ (19,122)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 562 479
Stock-based compensation 4,677 3,156
Amortization of premiums on securities, net (147) 213
Amortization of operating lease right-of-use assets 1,073 760
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (503) (331)
Accounts payable (643) 725
Accrued expenses and other liabilities (11) 410
Operating lease liability (420) (835)
Net cash used in operating activities (25,864) (14,545)
Cash flows from investing activities    
Proceeds from maturities of securities 105,575 40,000
Purchases of securities (54,185) (100,035)
Purchases of property and equipment (1,132) (1,013)
Net cash provided by (used in) investing activities 50,258 (61,048)
Cash flows from financing activities    
Proceeds from exercise of stock options 188 46
Proceeds from issuance of common stock under employee stock purchase plan 153 0
Net proceeds from reverse recapitalization and PIPE financing 0 335,409
Payments of offering costs 0 (8,082)
Net cash provided by financing activities 341 327,373
Net increase in cash, cash equivalents and restricted cash 24,735 251,780
Cash, cash equivalents and restricted cash at beginning of period 186,461 37,219
Cash, cash equivalents and restricted cash at end of period 211,196 288,999
Supplementary cash flow information on non-cash activities    
Acquisitions of property and equipment included in accounts payable 413 101
Deferred offering costs in accounts payable and accrued expenses and other liabilities 0 47
Conversion of redeemable convertible preferred stock into common stock in connection with the reverse recapitalization 0 108,418
Deferred offering costs reclassified to equity 0 8,129
Modification to reduce right-of-use assets and lease liability $ 0 $ 3,254