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, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (25,856) $ (20,841)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 3,588 2,695
Amortization of discount/premium on investments (122) 50
Depreciation 457 278
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 380 2,665
Other assets (608) (19)
Accounts payable (162) 630
Accrued and other current liabilities (2,012) (708)
Net cash used in operating activities (24,335) (15,250)
Cash flows from investing activities:    
Purchases of property and equipment (1,045) (485)
Purchases of investments (49,764)
Proceeds from maturities of investments 3,865
Net cash (used in) provided by investing activities (50,809) 3,380
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 9,830
Proceeds from issuance of common stock in connection with the exercise of stock options 51 60
Proceeds from issuance of common stock under employee stock purchase plan 40 46
Net cash provided by financing activities 91 9,936
Net decrease in cash and cash equivalents (75,053) (1,934)
Cash and cash equivalents—beginning of period 122,222 101,429
Cash and cash equivalents—end of period 47,169 99,495
Supplemental disclosures of non-cash investing and financing activities:    
Property and equipment purchases included in accounts payable $ 416 $ 520