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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (86,176) $ (55,135)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 10,129 13,933
Depreciation and amortization 177 187
Noncash lease expense 1,221 1,055
(Accretion)/amortization of available-for-sale marketable securities, net (159) 498
Changes in operating assets and liabilities:    
Accounts receivable, net - related party (91) (9,623)
Inventory, net (883) 749
Other receivables (1,186) 4
Prepaid expenses 3,609 (16,043)
Accounts payable and accrued expenses 37 10,455
Operating lease liabilities (1,278) (1,300)
Other (108)  
Net cash used in operating activities (74,708) (55,220)
Investing activities    
Proceeds from maturities of available-for-sale marketable securities 118,590 162,185
Proceeds from redemptions of available-for-sale marketable securities, at par 4,000  
Purchases of available-for-sale marketable securities (48,601) (77,858)
Purchases of property and equipment (323) (43)
Net cash provided by investing activities 73,666 84,284
Financing activities    
Net proceeds from sales of common stock under open market sales agreement 1,117  
Proceeds from the exercise of stock options 559 289
Net cash provided by financing activities 1,676 289
Net increase in cash, cash equivalents and restricted cash 634 29,353
Cash, cash equivalents and restricted cash at beginning of period 64,149 13,861
Cash, cash equivalents and restricted cash at end of period 64,783 $ 43,214
Noncash investing and financing activities    
Accrual for leasehold improvements $ 807