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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (38,669) $ (34,730)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 131 157
Amortization of debt issuance costs 609 480
Accretion of revenue interest financing debt, net of cash paid 1,065 1,440
Amortization of discount on short-term investments (149) (228)
Stock-based compensation expense 5,193 3,741
Amortization of net contract asset/liability (337) (413)
Noncash lease expense 47 53
Noncash lease liability 224 96
Write off of fixed assets   62
Changes in operating assets and liabilities:    
Net contract asset/liability 522 544
Prepaid expenses and other current assets, non-current assets, inventory and accounts receivable (3,833) (8,963)
Accounts payable and accrued expenses (2,264) (3,717)
Net cash used in operating activities (37,461) (41,478)
Cash flows from investing activities    
Maturities of short-term investments 20,885  
Purchases of short-term investments   (51,995)
Net cash provided by (used in) investing activities 20,885 (51,995)
Cash flows from financing activities    
Proceeds from exercise of stock options 257  
Other cash flows from financing activities   (174)
Net cash provided by (used in) financing activities 257 (174)
Net decrease in cash and cash equivalents (16,319) (93,647)
Cash and cash equivalents-beginning of period 120,572 240,551
Cash and cash equivalents-end of period 104,253 146,904
Supplemental disclosure of cash flow information    
Unrealized gain on short-term investments 20 74
Cash paid for interest during the period $ 2,671 $ 2,156