Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Operating activities      
Net loss $ (27,769) $ (17,551)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 169 164  
Stock-based compensation expense 2,414 2,505  
Accretion of development financing liability 3,365  
Net accretion and amortization of investments in marketable securities 131 196  
Changes in assets and liabilities:      
Other prepaid expenses and current assets 1,077 (2,553)  
Other assets (728) (1,239)  
Accounts payable (2,341) 1,375  
Accrued research and development expenses (93) (1,404)  
Other accrued liabilities (1,587) (2,054)  
Net cash used in operating activities (25,362) (20,561) $ (25,400)
Investing activities      
Purchases of property and equipment 0 (94)  
Purchases of marketable securities (62,485) (18,212)  
Proceeds from maturities of marketable securities 11,495 54,000  
Net cash (used in) provided by investing activities (50,990) 35,694  
Financing activities      
Proceeds from development financing 25,000 0  
 Issuance costs paid for issuance of common stock (459) 0  
Net cash provided by financing activities 24,541 0  
Net (decrease) increase in cash and cash equivalents (51,811) 15,133  
Cash and cash equivalents at beginning of period 125,806 28,193 28,193
Cash and cash equivalents at end of period 73,995 43,326 $ 125,806
Supplemental disclosure      
Cash paid for amounts included in the measurement of lease liabilities $ 171 $ 166