Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net loss $ (63,455) $ (35,235)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 515 468
Stock-based compensation expense 7,611 5,513
Accretion of development financing liability 522  
Write-off of deferred financing costs 312 0
Net accretion and amortization of investments in marketable securities 543 (240)
Changes in assets and liabilities:    
Interest receivable and other current assets 765 42
Prepaid expenses (1,490) 7,071
Other assets (1,514) 0
Accounts payable 512 (1,556)
Accrued liabilities 491 (5,972)
Net cash used in operating activities (55,188) (29,909)
Investing activities    
Purchases of property and equipment (87) (21)
Purchases of marketable securities (44,607) (153,951)
Proceeds from maturities of marketable securities 117,360 206,278
Net cash provided by investing activities 72,666 52,306
Financing activities    
Proceeds from issuance of common stock pursuant to equity award plans 205 7
Proceeds from development financing, net of transaction costs 23,087 0
Net cash provided by financing activities 23,292 7
Net increase in cash and cash equivalents 40,770 22,404
Cash and cash equivalents at beginning of period 28,193 24,869
Cash and cash equivalents at end of period 68,963 47,273
Supplemental disclosure    
Cash paid for amounts included in the measurement of lease liabilities 498 484
Supplemental non-cash investing and financing activities    
Accrued financing costs $ 350 $ 0