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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (16,498) $ (18,019)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 174 76
Amortization (accretion) on marketable securities (143) 0
Non-cash interest expense 24 19
Non-cash lease expense 131 179
Stock-based compensation expense 2,689 3,299
Other 352 0
Changes in assets and liabilities:    
Prepaid expenses and other current assets (60) (575)
Accounts payable and accrued expenses (4,784) 131
Lease obligations (125) (176)
Net cash used in operating activities (18,240) (15,066)
Cash flows from investing activities    
Purchases of marketable securities (3,947) 0
Proceeds from the maturities of marketable securities 9,000 0
Purchases of property and equipment (1,612) (223)
Net cash provided by (used in) investing activities 3,441 (223)
Cash flows from financing activities    
Proceeds from issuance of common stock, net 5,731 50,177
Payment of equity issuance costs (173) (75)
Payment of debt issuance costs (62) 0
Net cash provided by financing activities 5,496 50,102
Effect of changes in exchange rate on cash, cash equivalents, and restricted cash (1) 0
Net (decrease) increase in cash, cash equivalents, and restricted cash (9,304) 34,813
Cash, cash equivalents, and restricted cash at beginning of period 77,563 95,109
Cash, cash equivalents, and restricted cash at end of period 68,259 129,922
Supplemental disclosure of non-cash investing and financing transactions:    
Purchases of property and equipment 1,119 611
Equity issuance costs $ 0 $ 71