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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net Income (Loss) $ (18,971) $ (24,693)
Adjustments to reconcile net loss to net cash used in by operating activities:    
Share-based compensation expense 3,213 4,089
Depreciation and amortization 206 241
Amortization of premiums and accretion of discounts on short-term investments, net (560) (1,061)
Change in operating assets and liabilities:    
Prepaid expenses and other assets 206 1,016
Other assets 1,220 283
Accounts payable (1,155) 695
Accrued expenses (1,829) 97
Operating lease liabilities, net (6) 3
Net cash used in operating activities (17,676) (19,330)
Investing activities    
Purchase of property and equipment 0 (189)
Purchases of short-term investments (9,643) (41,453)
Proceeds from maturity of short-term investments 35,538 38,272
Net cash provided by (used in) investing activities 25,895 (3,370)
Financing activities    
Issuance of common stock, net of issuance costs 80 127
Issuance of common stock upon option exercises and from employee stock plan 44 93
Payments on borrowings of debt (6,679) 0
Net cash provided by (used in) financing activities (6,555) 220
Net increase (decrease) in cash and cash equivalents 1,664 (22,480)
Cash and cash equivalents at beginning of period 12,317 36,773
Cash and cash equivalents at end of period 13,981 14,293
Supplemental disclosure of cash flow information    
Interest paid 1,485 1,378
Interest received 1,134 1,733
Supplemental disclosure of noncash activities    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 0 $ 381