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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:        
Net loss   $ (82,456) $ (47,524)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation   4,777 4,405  
Depreciation expense   320 193  
Impairment of property and equipment $ 1,900 1,883 1,592 $ 1,600
Write-off of deferred financing costs   140    
Impairment of right-of-use assets   22,836    
Net amortization of premium on short-term investments   (2,009) (2,408)  
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets   (750) 565  
Operating lease right-of-use assets   570 1,080  
Other assets   1,111 (3,240)  
Accounts payable   (774) 3,985  
Accrued expenses and other current liabilities   (5,400) (625)  
Restructuring Liability   4,855    
Operating lease liabilities   (2,437) (857)  
Deferred revenue   (1,325) (1,412)  
Net cash used in operating activities   (58,659) (44,246)  
Cash flows from investing activities:        
Purchases of property and equipment   (2,396) (260)  
Purchases of short-term investments   (47,949) (72,765)  
Maturity of short-term investments   102,519 62,800  
Net cash provided by (used in) investing activities   52,174 (10,225)  
Cash flows from financing activities:        
Proceeds from sale of common stock, purchase warrants and pre-funded warrants, net of issuance costs   8,819 50,000  
Payment of deferred offering costs   (290) (3,332)  
Proceeds from exercise of stock options   3 103  
Net cash provided by financing activities   8,532 46,771  
Net increase (decrease) in cash, cash equivalents and restricted cash   2,047 (7,700)  
Cash, cash equivalents and restricted cash, beginning of period   23,745 33,942 33,942
Cash, cash equivalents and restricted cash, end of period $ 25,792 25,792 26,242 $ 23,745
Supplemental disclosure of non-cash financing and investing activities:        
Property and equipment purchases included in accounts payable     8  
Modification of lease agreement     4,931  
Issuance Costs in accounts payable, accrued expenses, and other current liabilities     150  
Other assets included in accounts payable and other current liabilities     2,740  
Right of Use Asset in Exchange for Lease Liability   $ 13,667    
Deferred offering costs included in accounts payable and accrued expenses     $ 161