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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows used in operating activities:    
Net (loss) income $ (44,085) $ 41,337
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 773 2,235
Share-based compensation 5,759 5,834
Loss on disposal of assets 34 254
Non-cash interest expense 146 255
Amortization of right-of-use assets 628 574
Loss (gain) on changes in fair value 2,415 (346)
Gain from equity method investment (677) (763)
Amortization of discount on note receivable (451) (280)
Loss (gain) on change in fair value of warrant liability 51 (18,151)
Changes in operating assets and liabilities:    
Prepaid expenses (1,009) 309
Marketable securities 464 0
Accounts receivable 229 694
Contract asset 1,469 (1,359)
Other assets and other current assets (45) (96)
Accounts payable 93 (1,982)
Other liabilities and other current liabilities (4,441) (4,015)
Deferred revenue (43) (57,808)
Lease liabilities (633) (542)
Net cash used in operating activities (39,323) (33,850)
Cash flows used in investing activities:    
Purchases of property, equipment and software (66) (114)
Purchases of intangible assets (265) 0
Proceeds from sale of equipment 5 60
Net cash used in investing activities (326) (54)
Cash flows provided by financing activities:    
Proceeds from employee stock purchase plan 140 112
Proceeds from issuance of common stock and warrants through underwritten offering, net of issuance cost 0 37,025
Proceeds from issuance of common stock through ATM facility, net of issuance cost 14,816 2,755
Proceeds from issuance of common stock to collaboration partners and licensees 1,031 905
Net cash provided by financing activities 15,987 40,797
Net (decrease) increase in cash and cash equivalents (23,662) 6,893
Cash, cash equivalents, and restricted cash - beginning of period 108,468 116,678
Cash, cash equivalents, and restricted cash - end of period 84,806 123,571
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 62,242 123,571
Restricted cash 22,564 0
Total of cash, cash equivalents and restricted cash 84,806 123,571
Supplemental disclosures of cash flow information:    
Property, equipment and software additions included in accounts payable and other current liabilities 0 0
Cash paid for interest $ 685 $ 1,058