XML 27 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operations:    
Net loss $ (44,974) $ (36,603)
Adjustments to reconcile net loss to net cash used in operations:    
Stock-based compensation 5,467 1,266
Depreciation 1,380 618
Net amortization of premium on short-term investments 3,035 1
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (9,272) (6,835)
Other assets (32) (326)
Accounts payable 7,866 (1,751)
Accrued expenses 6,924 3,313
Deferred revenue - related party (29,034) 6,569
Deferred rent 1,524 89
Net cash used in operating activities (57,116) (33,659)
Cash flows from investing activities:    
Purchase of property and equipment (7,926) (727)
Sale and maturities of short-term investments 201,575 37,595
Purchases of short-term investments (204,092) (183,190)
Net cash used in investing activities (10,443) (146,322)
Cash flows from financing activities:    
Proceeds from the exercises of stock options and ESPP purchases 1,929 229
Proceeds from the initial public offering 0 232,301
Net cash provided by financing activities 1,929 330,866
Net increase (decrease) in cash and cash equivalents (65,630) 150,885
Cash and cash equivalents, beginning of period 157,898 7,013
Cash and cash equivalents, end of period 92,268 157,898
Supplemental disclosures of non-cash financial activities:    
Unrealized loss on short-term investments (497) (117)
Unpaid amounts related to purchase of property and equipment 392 454
IPO    
Cash flows from financing activities:    
Issuance costs 0 (18,738)
Series B-1 Redeemable Convertible Preferred Stock    
Cash flows from financing activities:    
Issuance costs 0 (387)
Proceeds from sale of redeemable convertible preferred stock, net of issuance costs 0 83,000
Series B Redeemable Convertible Preferred Stock    
Cash flows from financing activities:    
Issuance costs 0 (159)
Proceeds from sale of redeemable convertible preferred stock, net of issuance costs $ 0 $ 34,620