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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (35,806) $ (25,770)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 5,049 5,340
Depreciation and amortization 5,118 5,640
Noncash operating lease cost 799 686
Amortization of discount on short-term investments (2,204) (1,264)
Other (263) 8
Changes in operating assets and liabilities    
Accounts receivable [1] (1,812) 4,809
Inventory and other deferred costs 504 1,271
Prepaid expenses and other assets (1,133) 879
Accounts payable [2] 3,721 (5,101)
Accrued and other current liabilities [2] (1,294) (5,513)
Contract liabilities (1,475) (2,701)
Operating lease liabilities (2,000) (1,701)
Other long-term liabilities [2] (100)  
Net cash used in operating activities (30,896) (31,156)
Cash flows from investing activities:    
Purchases of available-for-sale debt securities (108,297) (37,836)
Proceeds from maturities of available-for-sale debt securities 84,185 57,000
Purchases of property and equipment (2,801) (110)
Proceeds from sales of property and equipment   240
Net cash (used in) provided by investing activities (26,913) 19,294
Cash flows from financing activities:    
Proceeds from sales of common stock under ATM facility, net of commissions 17,782 2,842
Payment of costs related to Tempus and Merck Investment Agreements (106)  
Proceeds from loans 2,587  
Repayments of loans (1,307) (514)
Proceeds from issuance of common stock under equity incentive plans 804 317
Net cash provided by financing activities 19,760 2,645
Effect of exchange rates on cash, cash equivalents and restricted cash 8 (20)
Net change in cash, cash equivalents and restricted cash (38,041) (9,237)
Cash, cash equivalents and restricted cash, beginning of period 93,205 58,774
Cash, cash equivalents and restricted cash, end of period 55,164 49,537
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 53,374 47,747
Restricted cash, included in other long-term assets 1,790 1,790
Total cash, cash equivalents and restricted cash $ 55,164 49,537
Tempus Warrants    
Adjustments to reconcile net loss to net cash used in operating activities    
Noncash gain related to liability classified Tempus Warrants   $ (7,739)
[1] (1) Includes a change in related party receivable of $0.6 million for the six months ended June 30, 2025.
[2]

(2) Includes a change in related party liabilities of $1.9 million for the six months ended June 30, 2025.