Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (20,841) $ (15,637)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,695 1,940
Amortization of premium on investments 50 28
Depreciation 278 154
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 2,665 672
Other assets (19) (137)
Accounts payable 630 198
Accrued and other current liabilities (708) 209
Net cash used in operating activities (15,250) (12,573)
Cash flows from investing activities:    
Purchases of property and equipment (485) (246)
Purchases of investments   (11,097)
Proceeds from maturities of investments 3,865  
Net cash provided by (used in) investing activities 3,380 (11,343)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 9,830 (191)
Proceeds from issuance of common stock in connection with the exercise of stock options 60  
Proceeds from the issuance of common stock under employee stock purchase plan 46  
Net cash provided by (used in) financing activities 9,936 (191)
Net decrease in cash and cash equivalents (1,934) (24,107)
Cash and cash equivalents—beginning of period 101,429 136,204
Cash and cash equivalents—end of period 99,495 112,097
Supplemental disclosures of non-cash investing and financing activities:    
Property and equipment purchases included in accounts payable $ 520 $ 126