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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 $ (56,163) $ (47,258)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 319 205
Net amortization of premiums and discounts on marketable securities (1,411) 0
Stock-based compensation 6,407 5,485
Other non-cash items 152 194
Changes in operating assets and liabilities:    
Accounts receivable 30,000 0
Prepaid expenses and other current assets 620 (462)
Accounts payable 4,728 (2,524)
Accrued expenses (10,327) (2,159)
Operating lease right-of-use assets 669 889
Operating lease liabilities (697) (579)
Deferred revenue (3,302) 38,254
Net cash used in operating activities (29,005) (7,955)
Cash flows from investing activities    
Maturities of marketable securities 66,000 0
Purchase of marketable securities (63,693) 0
Purchase of property and equipment (911) (329)
Net cash provided by (used in) investing activities 1,396 (329)
Cash flows from financing activities    
Net proceeds from at-the-market facilities 21,730 60,374
Proceeds from exercise of stock options 34 96
Payment of debt issuance costs (150) 0
Payments under finance lease obligations (65) (76)
Net cash provided by financing activities 21,549 60,394
(Decrease) increase in cash, cash equivalents and restricted cash (6,060) 52,110
Cash, cash equivalents and restricted cash, beginning of period 129,363 178,425
Cash, cash equivalents and restricted cash, end of period 123,303 230,535
Supplemental disclosures of non-cash activities:    
Purchases of property and equipment in accounts payable and accrued expenses 169 457
Common stock issuance costs in accounts payable and accrued expenses 66 0
Cash paid for interest $ 791 $ 531