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Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities:    
Net loss $ (27,531) $ (37,037)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,788 738
Depreciation 395 303
Change in fair value of preferred stock tranche obligation (2,158) (72)
Accretion of premium and discounts on short-term investments 1 (68)
Changes in operating assets and liabilities:    
Prepaid expenses and other current and non-current assets (2,400) 1,597
Accounts payable (1,462) 1,403
Accrued research and development (977) 640
Other current and non-current liabilities 280 1,281
Net cash used in operating activities (32,064) (31,215)
Investing activities:    
Purchases of property and equipment (1,023) (605)
Purchases of short-term investments (61,637) (22,515)
Maturity of short-term investments 20,100 2,500
Net cash used in investing activities (42,560) (20,620)
Financing activities:    
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions 96,255  
Proceeds from issuance of convertible preferred stock, net of issuance costs   54,782
Proceeds from exercise of stock options 77 134
Payment of offering costs (4,160) (45)
Net cash provided by financing activities 92,172 54,871
Net increase in cash and cash equivalents 17,548 3,036
Cash and cash equivalents at beginning of period 15,870 12,834
Cash and cash equivalents at end of period 33,418 15,870
Supplemental disclosure of noncash items:    
Deferred offering costs included in accounts payable and other current liabilities   849
Conversion of convertible preferred stock into common stock upon initial public offering 131,363  
Property and equipment purchases included in accounts payable $ 49 $ 126