Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net loss $ (79,368) $ (63,455)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 525 515
Stock-based compensation expense 7,156 7,611
Write-off of deferred financing costs 0 312
Accretion of development financing liability 10,832 522
Net accretion and amortization of investments in marketable securities (283) 543
Changes in assets and liabilities:    
Other prepaid expenses and current assets 2,855 (725)
Other assets (1,413) (1,514)
Accounts payable (2,061) 512
Accrued research and development expenses (3,130) 1,660
Other accrued liabilities (437) (1,169)
Net cash used in operating activities (65,324) (55,188)
Investing activities    
Purchases of property and equipment (135) (87)
Purchases of marketable securities (162,346) (44,607)
Proceeds from maturities of marketable securities 108,140 117,360
Net cash (used in) provided by investing activities (54,341) 72,666
Financing activities    
Proceeds from issuance of common stock pursuant to equity award plans 9 205
Proceeds from development financing, net of transaction costs 25,000 23,087
Issuance costs paid for issuance of common stock (459) 0
Net cash provided by financing activities 24,550 23,292
Net (decrease) increase in cash and cash equivalents (95,115) 40,770
Cash and cash equivalents at beginning of period 125,806 28,193
Cash and cash equivalents at end of period 30,691 68,963
Supplemental disclosure    
Cash paid for amounts included in the measurement of lease liabilities 513 498
Supplemental non-cash investing and financing activities    
Accrued financing costs 0 350
Accrued costs for other assets $ 52 $ 0