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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (27,204) $ (40,391)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 757 348
Amortization (accretion) on marketable securities 0 (182)
Non-cash interest expense 57 54
Non-cash lease expense 229 265
Non-cash (income) expense from collaborative arrangements, net 1,745 1,392
Stock-based compensation expense 3,659 5,321
Impairment of advance for COVAXIN supply 0 4,074
Loss on disposal of fixed assets related to COVAXIN 0 363
Other 19 439
Changes in assets and liabilities:    
Prepaid expenses and other current assets 567 572
Accounts payable and accrued expenses (113) (9,049)
Lease obligations (222) (252)
Net cash used in operating activities (20,506) (37,046)
Cash flows from investing activities    
Purchases of marketable securities 0 (3,947)
Proceeds from the maturities of marketable securities 0 17,500
Purchases of property and equipment (2,865) (4,389)
Net cash (used in) provided by investing activities (2,865) 9,164
Cash flows from financing activities    
(Payments) from issuance of common stock, net (100)  
Proceeds from issuance of common stock, net   20,690
Payment of equity issuance costs 0 (222)
Proceeds from issuance of debt 0 500
Payment of debt issuance costs 0 (68)
Net cash (used in) provided by financing activities (100) 20,900
Effect of changes in exchange rate on cash, cash equivalents, and restricted cash 8 (3)
Net (decrease) in cash, cash equivalents, and restricted cash (23,463) (6,985)
Cash, cash equivalents, and restricted cash at beginning of period 39,462 77,563
Cash, cash equivalents, and restricted cash at end of period 15,999 70,578
Supplemental disclosure of non-cash investing and financing transactions:    
Equity issuance costs 0 133
Purchases of property and equipment 246 2,637
Series B Convertible Preferred Stock redemption 1 0
Right-of-use asset related to operating leases $ 103 $ 0