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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (13,036) $ (7,212)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 19 10
Amortization/accretion on short-term investments 1  
Changes in the fair value of performance award (387)  
Stock-based compensation 1,107 471
Changes in operating assets and liabilities:    
Non-cash lease expense 143  
Accounts payable and accrued expenses 1,251 (927)
Prepaid expenses and other assets 2,011 (929)
Operating lease liabilities (108)  
Other current and long-term liabilities   (2)
Net cash used in operating activities (8,999) (8,589)
Cash flows from investing activities    
Purchase of property and equipment (44) (25)
Purchase of available-for-sale short-term investments (16,029)  
Proceeds from maturities of available-for-sale short-term investments 21,500  
Net cash provided by (used in) investing activities 5,427 (25)
Cash flows from financing activities    
Proceeds from initial public offering, net of offering costs 6 187
Costs paid in connection with initial public offering   (1,223)
Net cash provided by financing activities 6 46,222
Net (decrease) increase in cash and cash equivalents (3,566) 37,608
Cash and cash equivalents, beginning of period 124,660 53,613
Cash and cash equivalents, end of period 121,094 91,221
Supplemental cash flow information:    
Right-of-use assets obtained in exchange for lease obligations $ 1,524  
Property and equipment in accounts payable   2
Unpaid Series B convertible preferred stock issuance costs   19
Accrued deferred initial public offering costs   361
Series B convertible preferred stock    
Cash flows from financing activities    
Proceeds from issuance of Series B convertible preferred stock, net of issuance costs   $ 47,258