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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (129,492) $ (4,270)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 157 94
Amortization of right-of-use asset 106 54
Accretion of discount related to marketable securities (538)  
Share-based compensation expense 2,159 1,224
Charge for purchase of in-process research and development assets 111,954  
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 2,473 214
Accounts payable 2,396 687
Accrued expenses and other current liabilities 669 (1,404)
Deferred revenue (1,029) 27,636
Operating lease liabilities (25) (62)
Net cash (used in) provided by operating activities (11,170) 24,173
Cash flows from investing activities:    
Cash paid in connection with Ayala asset acquisition (20,060)  
Cash paid in connection with Zentalis license agreement (15,007)  
Purchases of property and equipment (2,164) (106)
Net cash used in investing activities (37,231) (106)
Cash flows from financing activities:    
Proceeds from public offering 230,002  
Payment of offering costs (14,155)  
Proceeds from exercise of stock options 171  
Proceeds from exercise of common stock warrants 3,427  
Proceeds from issuance of common stock under ATM, net   34
Net cash provided by financing activities 219,445 34
Net increase in cash and cash equivalents and restricted cash 171,044 24,101
Cash and cash equivalents and restricted cash at beginning of period 98,779 20,423
Cash and cash equivalents and restricted cash at end of period 269,823 44,524
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 269,723 44,424
Restricted cash 100 100
Total cash, cash equivalents, and restricted cash 269,823 44,524
Supplemental disclosures of non-cash investing and financing activities:    
Issuance of common stock in exchange for in-process research and development 74,033  
Liabilities assumed in Ayala asset acquisition 2,041  
Purchase of in-process research and development assets in accounts payable 813  
Public offering costs included in accounts payable 437  
Issuance of common stock to certain board of directors in lieu of accrued compensation   221
Purchases of property and equipment in accounts payable $ 594 $ 223