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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (35,513) $ (86,990)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 664 635
Stock-based compensation expense 7,996 19,276
Revaluation of contingent consideration 3,800 (600)
Changes in operating assets and liabilities:    
Accounts receivable (45) 138
Prepaid expenses and other assets 3,744 (9,293)
Accounts payable (1,216) (1,079)
Accrued expenses and other liabilities (15,514) 6,349
Deferred income 24,947  
Net cash used in operating activities (11,137) (71,564)
Cash flows from investing activities:    
Purchases of property and equipment, net (121) (868)
Purchases of marketable securities (49,555) (135,675)
Proceeds from sales and maturities of marketable securities 68,630 175,213
Net cash provided by investing activities 18,954 38,670
Cash flows from financing activities:    
Proceeds from issuance of common stock under the at-the-market sales agreement, net of issuance costs   26,714
Payments of employee withholding taxes related to restricted stock unit award vesting (76) (102)
Proceeds from exercise of employee stock options and the issuance of stock 32 45
Net cash (used in) provided by financing activities (44) 26,657
Net increase (decrease) in cash and cash equivalents 7,773 (6,237)
Cash and cash equivalents at beginning of period 39,878 45,277
Cash and cash equivalents at end of period $ 47,651 39,040
Supplemental disclosure of non-cash investing and financing activities:    
Additions to property and equipment included in accounts payable   $ 376