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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:            
Net loss     $ (15,984) $ (70,583)    
Adjustments to reconcile net loss to net cash used in operating activities:            
Stock-based compensation     1,739 3,286    
Depreciation expense $ 200 $ 200 255 281    
Impairment of property and equipment 0 1,883 0 1,883 $ 1,900 $ 1,600
Write-off of deferred financing costs       140    
Impairment of right-of-use assets 0 22,836 0 22,836 22,800  
Gain on sale of property and equipment     (8)      
Net amortization of premium on short-term investments       (1,608)    
Changes in operating assets and liabilities:            
Prepaid expenses and other current assets     1,169 131    
Operating lease right-of-use assets     1,566 227    
Other assets       1,111    
Accounts payable     (499) 1,818    
Accrued expenses and other current liabilities     (541) (2,502)    
Restructuring liability     (861) 3,127    
Operating lease liabilities     (1,902) (1,453)    
Deferred revenue     (366) (1,130)    
Net cash used in operating activities     (15,432) (42,436)    
Cash flows from investing activities:            
Purchases of property and equipment     (20) (2,345)    
Proceeds from the sale of property and equipment     18      
Purchases of short-term investments       (35,141)    
Maturity of short-term investments       81,519    
Net cash (used in) provided by investing activities     (2) 44,033    
Cash flows from financing activities:            
Proceeds from sale of common stock, warrants and pre-funded warrants     4,999 8,819    
Payment of deferred offering costs     (358) (267)    
Proceeds from exercise of stock options       3    
Net cash provided by financing activities     4,641 8,555    
Net decrease in cash, cash equivalents and restricted cash     (10,793) 10,152    
Cash, cash equivalents and restricted cash, beginning of period     42,570 23,745 23,745  
Cash, cash equivalents and restricted cash, end of period $ 31,777 $ 33,897 31,777 33,897 $ 42,570 $ 23,745
Supplemental disclosure of non-cash financing and investing activities:            
Issuance costs in accrued expenses     $ 368      
Property and equipment purchases included in accounts payable       64    
Right of Use Asset in Exchange for Lease Liability       13,667    
Prepaid expenses for right-of-use asset included in operating lease liabilities       440    
Deferred offering costs included in accounts payable and accrued expenses       $ 23