XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (56,353) $ (35,448)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 7,856 2,872
Depreciation and amortization expense 2,194 1,502
Amortization (accretion) of premium (discount) on marketable securities 412  
Changes in operating assets and liabilities:    
Tenant receivable   448
Prepaid expenses and other current assets (2,140) (2,514)
Other noncurrent assets (584) (151)
Accounts payable 322 799
Accrued expenses and other current liabilities (171) (304)
Deferred rent   (468)
Net cash used in operating activities (48,464) (33,264)
Cash flows from investing activities:    
Purchases of property and equipment (2,183) (2,223)
Purchases of marketable securities   (129,399)
Maturities of marketable securities 165,900  
Net cash provided by (used in) investing activities 163,717 (131,622)
Cash flows from financing activities:    
Proceeds from issuance of convertible preferred stock, net of issuance costs incurred and paid in current period   108,854
Proceeds from initial public offering of common stock, net of underwriting discounts and commissions 211,876 213,900
Payment of offering costs (550) (1,493)
Proceeds from exercise of stock options 2,604 185
Net cash provided by financing activities 213,930 321,446
Net increase in cash, cash equivalents and restricted cash 329,183 156,560
Cash, cash equivalents and restricted cash at beginning of period 64,940 17,183
Cash, cash equivalents and restricted cash at end of period 394,123 173,743
Supplemental disclosure of noncash investing and financing information:    
Conversion of convertible preferred stock to common stock   224,425
Purchases of property and equipment included in accounts payable and accrued expenses 333 900
Offering costs included in accounts payable and accrued expenses $ 118 $ 1,692