XML 36 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (145,540,000) $ (117,507,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,645,000 4,158,000
Stock-based compensation expense 25,194,000 20,391,000
Amortization of premium and discounts on marketable securities, net 2,770,000 521,000
Accreted interest on BPI 0 17,000
Impairment of long-lived assets 1,063,000 0
Foreign currency remeasurement loss 0 342,000
Other (25,000) 58,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,257,000) 5,854,000
Deposit and other long-term assets and deferred rent receivable (990,000) (18,000)
Operating lease right-of-use assets 2,719,000 1,587,000
Accounts payable (1,612,000) 1,585,000
Accrued expenses, other current and non-current liabilities 3,274,000 4,147,000
Other non-current liabilities 0 1,114,000
Lease liability 2,928,000 (1,540,000)
Net cash used in operating activities (107,831,000) (79,291,000)
Cash flows from investing activities:    
Purchases of marketable securities (407,514,000) (570,386,000)
Maturities of marketable securities 492,356,000 295,315,000
Sales of marketable securities 8,990,000 6,748,000
Purchases of property and equipment (15,123,000) (11,844,000)
Net cash provided by (used in) by provided by investing activities 78,709,000 (280,167,000)
Cash flows from financing activities:    
Proceeds from offering of common stock, net of issuance costs 1,685,000 344,302,000
Proceeds from issuance of common stock pursuant to option exercises 51,000 12,687,000
Taxes paid related to net share settlement of restricted stock units 0 (2,043,000)
Proceeds from employee stock purchase plan 901,000 1,100,000
Repayment of BPI loan (240,000) (61,000)
Net cash provided by financing activities 2,397,000 355,985,000
Net decrease in cash and cash equivalents and restricted cash (26,725,000) (3,473,000)
Cash and cash equivalents and restricted cash at beginning of period 63,423,000 66,896,000
Cash and cash equivalents and restricted cash at end of period 36,698,000 63,423,000
Cash and cash equivalents 34,195,000 62,424,000
Restricted cash 2,503,000 999,000
Cash and cash equivalents and restricted cash at end of period 36,698,000 63,423,000
Supplemental schedule of noncash investing information    
Right-of-use assets obtained in exchange for lease liability 84,005,000 0
Decrease in right-of-use asset and lease liability due to termination 15,768,000 0
Remeasurement of right-of-use asset on lease modification 2,052,000 0
Fixed assets in accounts payable and current liabilities $ 1,402,000 $ 403,000