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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net loss $ (68,765) $ (34,115)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities    
Depreciation 751 544
Amortization of marketable securities 50  
Stock-based compensation expense 7,525 5,177
Non-cash operating lease expense 1,283 1,174
Loss on disposal of property and equipment 173  
Net realized loss on marketable securities 12  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,236 (1,452)
Accounts payable (291) 361
Accrued expenses and other current liabilities 2,230 1,298
Lease liability (1,292) (740)
Deferred revenue (15,618) (30,985)
Deposits and other assets (1,403) (1,514)
Net cash flows used in operating activities (74,109) (60,252)
Cash flows from investing activities    
Purchases of property and equipment (1,431) (1,760)
Purchase of marketable securities (216,338)  
Sales and maturities of marketable securities 118,485  
Net cash flows used in investing activities (99,284) (1,760)
Cash flows from financing activities    
Proceeds from initial public offering, net of offering costs   131,302
Proceeds from exercise of stock options 1,095 582
Proceeds from issuance of preferred stock, net of offering costs   (146)
Net cash flows provided by financing activities 1,095 131,738
Net (decrease) increase in cash and cash equivalents (172,298) 69,726
Cash, cash equivalents and restricted cash, beginning of year 233,089 163,363
Cash, cash equivalents and restricted cash, end of year 60,791 233,089
Cash and cash equivalents 59,919 232,217
Restricted cash included in other assets 872 872
Cash, cash equivalents and restricted cash, end of year 60,791 233,089
Supplemental disclosure of non-cash activities    
Purchases of property and equipment in accounts payable and accrued expenses $ 259 13
Right-of-use assets and lease liabilities recognized upon lease inception   $ 7,541