v3.22.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (39,110) $ (30,359)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,327 1,291
Amortization of premium on marketable securities 546 496
Stock-based compensation 6,974 3,952
Noncash lease expenses 669 1,190
Unrealized (gain) loss on equity securities (563) 10,689
Remeasurement of liability awards 2 (11)
Other 123 39
Changes in operating assets and liabilities:    
Accounts receivable 768 (1,668)
Prepaid expenses and other assets 212 (3,382)
Accounts payable (1,132) (462)
Accrued compensation (6,009) (4,327)
Other liabilities (296) (267)
Deferred revenue 783 (7,793)
Change in operating lease liability 451 182
Net cash used in operating activities (35,255) (30,430)
Investing activities    
Purchases of marketable securities (10,994) (164,604)
Maturities of marketable securities 28,109 40,250
Sales of marketable securities 17,420 5,000
Purchases of equipment and leasehold improvements (1,553) (2,376)
Net cash provided by (used in) investing activities 32,982 (121,730)
Financing activities    
Payment of issuance costs (22)  
Proceeds from exercise of common stock options 180 1,360
Taxes paid related to net shares settlement of restricted stock units (404) (407)
Proceeds from employee stock purchase plan 1,006 873
Net cash provided by financing activities 760 1,826
Net decrease in cash, cash equivalents and restricted cash (1,513) (150,334)
Cash, cash equivalents and restricted cash at beginning of period 31,286 207,024
Cash, cash equivalents and restricted cash at end of period 29,773 56,690
Supplemental disclosure of cash flow information:    
Cash paid for interest 504 331
Supplemental disclosure of non-cash investing and financing information:    
Purchases of equipment included in accounts payable 881 809
Issuance costs included in accounts payable $ 28  
Embedded interest associated with program fees   $ 231

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