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
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (37,283) $ (32,401)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 5,319 4,203
Amortization of discount/premium on investments (177) 62
Depreciation 820 499
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 39 3,280
Other assets (332) (25)
Accounts payable (1,055) 409
Accrued and other current liabilities (1,580) 379
Net cash used in operating activities (34,249) (23,594)
Cash flows from investing activities:    
Purchases of property and equipment (2,137) (1,015)
Purchases of investments (49,764)
Proceeds from maturities of investments 25,000 6,165
Net cash (used in) provided by investing activities (26,901) 5,150
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 0 34,710
Proceeds from issuance of common stock in connection with the exercise of stock options 51 519
Proceeds from issuance of common stock under employee stock purchase plan 40 46
Net cash provided by financing activities 91 35,275
Net decrease in cash and cash equivalents (61,059) 16,831
Cash and cash equivalents—beginning of period 122,222 101,429
Cash and cash equivalents—end of period 61,163 118,260
Supplemental disclosures of non-cash investing and financing activities:    
Property and equipment purchases included in accounts payable $ 191 $ 76