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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (96,210) $ (57,645)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,218 1,953
Stock-based compensation expense 5,201 8,111
Net accretion of discount on marketable securities (528) (775)
Non-cash lease expense 82 1,028
Non-cash sublease loss 982 4,765
Other 12 (9)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,568 656
Deposit and other long-term assets (125) 69
Accounts payable 3,103 (111)
Accrued expenses and other liabilities 3,625 (2,639)
Lease liability (466) 1,508
Net cash used in operating activities (81,538) (43,089)
Cash flows from investing activities:    
Purchases of marketable securities (1,976) (49,448)
Maturities of marketable securities 65,500 25,200
Purchases of property and equipment (340) (106)
Net cash provided by (used in) investing activities 63,184 (24,354)
Cash flows from financing activities:    
Proceeds from issuance of common stock and pre-funded warrants in private placements, net of issuance costs 0 119,361
Proceeds from issuance of common stock pursuant to option exercises 0 139
Proceeds from employee stock purchase plan 120 264
Net cash provided by financing activities 120 119,764
Net (decrease) increase in cash and cash equivalents and restricted cash (18,234) 52,321
Cash and cash equivalents and restricted cash at beginning of period 62,628 76,976
Cash and cash equivalents and restricted cash at end of period 44,394 129,297
Cash and cash equivalents 42,418 127,321
Restricted cash 1,976 1,976
Cash and cash equivalents and restricted cash at end of period 44,394 129,297
Supplemental schedule of noncash investing and financing information    
Property and equipment in accounts payable, accrued expenses and other current liabilities $ 228 $ 221