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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (52,821) $ (24,591)
Adjustments to reconcile net loss to net cash used in operations:    
Stock-based compensation 4,251 629
Depreciation 937 448
Accretion (amortization) of short-term investments 774 (22)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,239) (2,214)
Other assets 75 (33)
Accounts payable 846 (1,701)
Accrued expenses 6,431 1,985
Deferred revenue - related party 1,044 5,870
Deferred rent 1,303 13
Net cash used in operating activities (38,399) (19,616)
Cash flows from investing activities:    
Purchase of property and equipment (5,936) (526)
Sale and maturities of short-term investments 134,975 31,270
Purchases of short-term investments (165,083) (5,578)
Net cash (used in) provided by investing activities (36,044) 25,166
Cash flows from financing activities:    
Exercise of stock options and ESPP purchases 1,639 214
Payments for public offering costs 0 (1,251)
Net cash provided by financing activities 1,639 116,037
Net increase (decrease) in cash and cash equivalents (72,804) 121,587
Cash and cash equivalents, beginning of period 157,898 7,013
Cash and cash equivalents, end of period 85,094 128,600
Supplemental disclosures of non-cash financial activities:    
Unrealized loss on short-term investments (1,764) (64)
Accrued public offering costs in other assets 0 495
Unpaid amounts related to purchases of property and equipment 651 0
Series B Redeemable Convertible Preferred Stock    
Cash flows from financing activities:    
Proceeds from the sale of Series B redeemable convertible preferred stock, net of issuance costs 0 34,461
Series B-1 Redeemable Convertible Preferred Stock    
Cash flows from financing activities:    
Proceeds from the sale of Series B redeemable convertible preferred stock, net of issuance costs $ 0 $ 82,613