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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (17,550) $ (35,520)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 664 951
Amortization of debt issuance costs 0 705
Debt extinguishment loss upon paydown of principal 0 491
Net accretion and amortization of premium and discounts on marketable securities (638) (1,199)
Gain on disposal of property and equipment (23) 0
Stock-based compensation 3,165 6,127
Non-cash rent expense (937) (811)
Impairment of long-lived assets 0 5,602
(Gain) loss on warrant liability (2,407) (2,283)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 2,178 (1,858)
Other long-term assets (74) 52
Accounts payable 424 (642)
Accrued compensation (137) (793)
Accrued liabilities and other current liabilities 375 (335)
Net cash used in operating activities (14,960) (29,513)
Investing activities    
Purchase of marketable securities (21,289) (28,609)
Maturities of marketable securities 25,250 74,000
Purchase of property and equipment 0 (11)
Sale of property and equipment 26 1
Net cash provided by investing activities 3,987 45,381
Financing activities    
Payment of debt principal 0 (20,000)
Payment of debt issuance costs 0 (1,563)
Proceeds from issuance of common stock under 2018 ESPP 68 91
Net cash provided by financing activities 68 (20,728)
Net decrease in cash, cash equivalents and restricted cash (10,905) (4,860)
Cash, cash equivalents and restricted cash at beginning of the period 20,699 13,632
Cash, cash equivalents and restricted cash at end of the period 9,794 8,772
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 0 1,969
Cash and cash equivalents 8,898 7,876
Long-term restricted cash 896 896
Total cash, cash equivalents and restricted cash 9,794 8,772
ATM Offering Program    
Financing activities    
Proceeds from issuance of common stock, net of issuance costs $ 0 $ 744