Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (46,289) $ (33,339)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 5,804 4,388
Amortization of premium on investments 62 119
Depreciation 733 354
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 2,554 (524)
Other assets (58) (198)
Accounts payable 975 555
Accrued and other current liabilities 2,110 1,875
Net cash used in operating activities (34,109) (26,770)
Cash flows from investing activities:    
Purchases of property and equipment (1,166) (635)
Purchases of investments   (11,097)
Proceeds from maturities of investments 7,165 3,751
Net cash provided by (used in) investing activities 5,999 (7,981)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 48,253 (192)
Proceeds from issuance of common stock in connection with the exercise of stock options 579 139
Proceeds from the issuance of common stock under employee stock purchase plan 71 29
Net cash provided by (used in) financing activities 48,903 (24)
Net increase (decrease) in cash and cash equivalents 20,793 (34,775)
Cash and cash equivalents—beginning of year 101,429 136,204
Cash and cash equivalents—end of year 122,222 101,429
Supplemental disclosures of non-cash investing and financing activities:    
Property and equipment purchases included in accounts payable $ 135 $ 20