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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net loss $ (54,054) $ (63,078)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 1,968 704
Amortization (accretion) on marketable securities 0 (182)
Non-cash interest expense 116 116
Non-cash lease expense 856 538
Non-cash income from collaborative arrangements, net (2,157) (696)
Stock-based compensation expense 7,427 9,217
Impairment of advance for COVAXIN supply 0 4,074
Loss on disposal of fixed assets related to COVAXIN 0 363
Other 37 46
Changes in assets and liabilities:    
Prepaid expenses and other current assets 361 (296)
Accounts payable and accrued expenses 4,137 (12,343)
Lease obligations (833) (517)
Net cash used in operating activities (42,142) (62,054)
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 (3,385) (10,476)
Repayment of note receivable 0 0
Net cash (used in) provided by investing activities (3,385) 3,077
Cash flows from financing activities    
Proceeds (payments) from issuance of common stock, net 38,556 20,804
Payment of equity issuance costs (2,889) (355)
Proceeds from issuance of debt 30,000 500
Payments of debt issuance costs (809) (68)
Net cash provided by financing activities 64,858 20,881
Effect of changes in exchange rate on cash and restricted cash 28 (5)
Net (decrease) in cash and restricted cash 19,359 (38,101)
Cash and restricted cash at beginning of period 39,462 77,563
Cash and restricted cash at end of period 58,821 39,462
Supplemental disclosure of non-cash investing and financing transactions:    
Purchase of property and equipment 0 2,189
Right-of-use assets related to operating leases 103 572
Series B Convertible Preferred Stock reacquisition (1) 0
Issuance of common stock for Avenue Capital agreement $ 1,000 $ 0