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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net loss $ (60,887) $ (51,275)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of premium on marketable securities 359 840
Depreciation and amortization 795 765
Stock-based compensation expense 8,239 7,866
Gain on foreign currency translation 715 281
Non-cash operating lease expense 1,282 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 712 379
Accounts payable, accrued expenses and other current liabilities 3,973 3,551
Deferred revenue (1,527) (2,676)
Deferred rent 0 (76)
Operating lease liabilities (1,583) 0
Net cash used in operating activities (47,922) (40,345)
Investing activities    
Purchase of marketable securities (112,718) (148,050)
Proceeds from maturities of marketable securities 109,294 82,956
Purchase of property and equipment (796) (361)
Net cash used in investing activities (4,220) (65,455)
Financing activities    
Proceeds from equity offerings, net of issuance costs 49,784 134,582
Proceeds from issuance of common stock under employee stock plans 1,058 1,609
Net cash provided by financing activities 55,821 140,881
Net increase in cash and cash equivalents 3,679 35,081
Cash and cash equivalents at beginning of period 24,027 24,918
Cash and cash equivalents at end of period 27,706 59,999
Supplemental disclosures of non-cash investing and financing information    
Right-of-use asset obtained in exchange for lease obligation (6,585) 0
Issuance costs related to public offering included in accrued expenses 370
At The Market    
Financing activities    
Proceeds from equity offerings, net of issuance costs $ 4,979 $ 4,690